This morning President Obama had a photo and Q&A session right before he left the Whitehouse for a flight out to the Left Coast to appear on Jay Leno’s show. He said something about AIG that was just plain-outright wrong!
He said the reason for American International Group Inc.’s failure was the lack of government regulation. The regulators should have been able to prevent AIG from insuring all of the banks that had issued loans for property that defaulted. With regulation, he said, AIG would have not been allowed to issue such insurance. Read more »