Congratulations To Us All. Sort Of.

Congratulations! You and I are now are part owners of the world's largest insurance company and the world's largest collection of sub-prime mortgage obligations, an honor we share with tens of millions of other American taxpayers.

Who could have foreseen that a Republican administration would nationalize -- that bears emphasis nationalize -- the mortgage industry and much of the insurance industry? George Bush nationalized AIG, Freddie Mac and Fannie Mae. Not Hugo Chavez Frias. Not Luis Inacio Lula da Silva.

Lest anyone claim this collapse couldn't be foreseen, if my memory is correct, Warren Buffet years ago dubbed derivatives “financial weapons of mass-destruction”.

One goal of the Bush Administration was to have social security tied up in the stock market. Looks like that dream has suddenly gotten closer. Looking forward to retiring on the returns from your "investment" in AIG?