Less than the Least

Entries from Less than the Least tagged with 'AIG'

Should Geithner Step Down?--Skeel

A recent report by Neil Barofsky, the special investigator for the $700 billion TARP program, criticizing last year’s AIG bailout has stoked suggestions that perhaps it’s time for Treasury Secretary Geithner to step down. My guess is that Geithner will indeed...

Bankruptcy vs. Bailouts--Skeel

Readers of this blog are no doubt tired of hearing me argue that bankruptcy would often be a better solution to the financial distress of large financial firms like AIG or Bear Stearns than the bailouts the government has used...

Bankruptcy Phobia--Skeel

 Almost the only tool the government hasn’t seriously tried in its battle against the economic crisis is bankruptcy. Rather than bailout out Bear Stearns, AIG or GM, it would have made more sense to address their financial distress in bankruptcy. The most...