Manageable tranches.

Editor,

AIG is a front for the biggest scam of all time.

On the way up, as the bubble was inflating, AIG was stamping worthless securities with its triple-A imprimatur so that lesser crooks -- generic scum who rip off people who work for a living -- would buy them. On the way down, AIG laundered billions of workers' money coming in the door in the form of bailouts into the hands of their pals Goldman Sachs, Citigroup, Bank of America, UBS, etc.

This is a RICO case. All the principals at all these corporations belong in jail. All their assets should be seized, and every corporation that is "too big to fail" -- which means in plain English "too big" -- should be sliced and diced into manageable, carefully regulated tranches.

re: "Toxic R Us" (3/22/2009)