Taxpayers are being asked to bail out AIG

Insurance giant AIG is getting bailed out by the government. We the taxpayers are being asked to foot the bill because apparently, if we didn’t then the consequences would be horrific. Well, now that we the people are bailing out AIG, what’s being done to help them not get into this mess again?

Treasury Secretary Henry Paulson is considering creating a bail out agency. The agency would buy bad debts off of companies for a deep discount and then sell them back into the general market. My question is we have a 700+ billion dollar deficit. How are we able to bail out all these companies and how much of this are the taxpayers going to have to bear especially with layoffs and natural disasters occurring with more frequency? I’m sure in the coming days and weeks, we learn more because one thing we know for sure, more transparency is need especially if taxpayers are footing the bill.