AIG is the American International Group, a huge insurance corporation, with offices located around the world. AIG is one the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer.

This week, due to a poor credit rating,their stock dove by 95%. Therefore, stocks for AIG were being traded for just $1.25 on September 16, 2008, from a 52-week high of $70.13.

So, let's say you had 100 shares of their stock, last week that would be worth $7,013 and this week it would be worth $125.

The stock losses do not include the affects that AIG going under, would have had on those with life and busniness insurance policies.

The American government has stepped in to bail out AIG to the tune of $85 billion dollars. For the average tax payer, you shouldn't be alarmed just yet, as in exchange for the bail out, the US government retains 79.9% of the company. Which means that if AIG goes on the upswing, the US government should make all of it's money back, and hopefully then some.

This was a necesary means for the government as the collapse of AIG would prove devistating to our economy. The trickle down affects would eventually reach every American, whether you have any financial or insurance interests with AIG. From higher student loans, mortgage and credit cards, AIG's collapse would have hit all of our wallets in the end.

Some of you may have been hearing about Lehman Brothers, a global investment bank, which the government let fall on its face earlier this week.That was also necesarry, the US government is not responsible for poor trading practices, therfore, they cannot put the nation into an even further deficit by bailing out every coroporation that has been improperly regulated by the Bush administration

The result of Lehman brothers' bankruptcy was that other corporations, specifically Barclay's of London, snatched it up at bargain bin prices. Merril Lynch also, due to severe financial setbacks, allowed Bank of America to buy it up for mere $50 Billion dollars. This could prove tricky as the financial giants Barclay's and Bank of America, have become super giants, which could ultimately result in a monopoly.

Ultimately, our current economic status is a direct result of dysregulation by the current administration on big corporations. The AIG situation should work itself out now that the government has stepped in. However, the government needs to keep a watchful eye on the coporations who are now significantly stronger due to the Lehman Brothers and Merril Lynch collapses, as they will need significant regulations placed on them to avoid a repeat of this week's economic disasters.

McCain has stated that he is for "de-regulation" throughout his political career. His long record of not regulating coporate financial matters coupled with significant tax breaks for the same corporations proves it.

Yet, within the span of 24hrs this week, he's determined to cut coporate tax breaks and regulate big corporations? Hmmm...that's what Obama's been saying all along.

The bottom line is this: the old boys' network got us into this mess, and now the entire government is responsible for cleaning it up. McCain's sudden economic enlightenment aside, he's still one of the old boys network.

i don't know about you, but I'm all set with more of the McSame.