Mass hysteria over AIG obscures simple truths

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“Since the beginning of the crisis I have wondered why the government has found neither the will nor the way to attack the root of the problem – the people who borrowed money to buy homes they should not have bought. Now I think I understand. It would be too simple. People would understand a lot of small payments to the guy down the street who does not deserve them, and become outraged. Far better to throw trillions at opaque corporations, the inner workings of which no one still really understands,” said Michael Lewis in this thought-provoking article. […]

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