Another day, another bailout, another set of financiers saved from consequences at our expense

So the government (which of course means you and I) has bailed out AIG. The moral of this story is that if you or I make stupid, bonehead investments because of the potentially high yeild, we can be fucked by the market, but if you are a bank/mortgage lender/insurer/other fianancial institution, you can make all the money you want on high risk/yeild investments and never face the consequences of your risks if they go sour.

If is NOT in the public's best interest to prop up insolvent institutions, like the Fed says it is. This will just lead to another round of malinvestment in the future, more bubbles and busts, more transfer of wealth from us to the already wealthy elite. We need to move toward a monetary policy and system that is stable and protects against John Maynard Keynes' favored system of credit expansion through levereged borrowing that leads nowhere other than inflation. The elite have been manipulating the system for far too long to get the wealth out of our hands, and it's working beautifully. The sad thing is, no one seems to notice or care.