Joe Nocera is a tough grader when it comes to AIG, calling it "the most crippled of all the nation’s wounded financial institutions" in his New York Times piece.
That could be argued. What can't is the band-aid approach being taken to stem a bankruptcy by AIG.
As bad as the economy is, it's being made worse by taking a piecemeal approach. The company is now a penny stock that is a drag on the market. And there is fear that AIG could trigger a 'domino' situation and hurt pension funds, American and European banks. What to do?
Read the entire piece here.