The Danger No One is Talking About (part 2)

If the United States government has agreed to liquidate shareholders of investment banks while making whole the obligations made by irresponsible bankers to the end-users (who may be foreign governments) of these complex derived financial instruments, then the U.S. taxpayer is open to unknowable open-ended financial liability. We face the real possibility of large wealth transfers from the United States to other countries, including China and Russia. For those who wonder what the unseen costs to the United States may be, this is the most unnerving. Although we may later find out that bankruptcy at AIG and the others would have been preferable, let's hope not.