aig

ANDREW COYNE: How the seven richest nations went all in on a plan that brought the global economy back from the brink

For some reason, I was reminded by Jake DeSantis’s already-famous “Dear AIG, I Quit!” op-ed, and even more by some of the online expressions of sympathy, of a song lyric I once read in The Complete Lyrics of Cole Porter. This was a song Porter wrote for a musical in 1930; in the song, a trio of wealthy people laments that everyone is worried about how the Depression is affecting the poor, and no one cares about the sacrifces the rich have made. The song was cut before the Broadway opening, but Porter later re-worked parts of it into the hit song “Well, Did You Evah!”

AIG snagged billions while its execs hung out by the pool

Must-reads: Don MacPherson on what Jean Charest’s up to; Lawrence Martin on Dion’s team; Michael Coren on Opus Dei.

Last night’s shocking bail out of AIG hasn’t done much to calm the fears roiling through the markets this morning. It has, however, got me to thinking.

I am stunned, STUNNED at the news that the U.S. Federal Reserve and U.S. Treasury have kicked in US$85 billion to bail out AIG.