ITHO: Let AIG Fail — Minnick

Rep. Walt Minnick, D-Idaho, was greeted by students from Post Falls Middle School’s Leadership Class during a visit to Post Falls City Hall this morning. In the Idaho Statesman today, Minnick said AIG should be allowed to fail. See below. (Kathy Plonka/Spokesman-Review)

The simple reality is that AIG has failed. The ill-advised government bailout of AIG did not prevent it from being broken into pieces. The company Mr. Shealy describes as big enough to cause an economic “supernova” has for months been gradually dismantled. In fact, since the company’s CEO first testified before Congress last fall, AIG has essentially been in receivership. The logical step for the company is a pre-packaged, structured bankruptcy, something that should have been done at the beginning/ Walt Minnick , Idaho Statesman. More here .

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Question: Do you agree with Congressman Minnick that AIG is no longer a valuable company worth saving?