When I turned on the news this morning, I heard that AIG is receiving even more money from the US Government. Uncle Sam now owns a substantial portion of the business. Why do they keep receiving government funds? Could be a lot of reasons I suppose, but the big one has to do with AIG handling insurance for the US congressional pension program. That's an interesting factoid, isn't it?
By the way, why does Congress still have an old school pension system when the rest of the US government was phased over to 401k style Thrift Spending Accounts when the Federal Employee Retirement System went live over two decades ago? Why does Congress have a retirement system at all?