In a move that surprised no one, mega-insurer A.I.G. and car manufacturers General Motors and Chrysler have all asked the federal government for more bailout money. G.M. and Chrysler's fate is up in the air, but, with the Democratic dominance in Congress, it is likely that they will get the extra $22 billion they are requesting. A.I.G., on the other hand, was given another $30 billion almost immediately, increasing their total take to $180 billion.
When will the government refuse to subsidize failure? If the government is willing to bail out A.I.G. a fourth time, when will it ever put its foot down? By rewarding incompetence and ineffectiveness, the federal government is encouraging businesses across America, even successful ones, to play it fast and loose. After all, why not swing for the fences? The government has your back if you strike out. We need to stop the "if you fail we will bail" cycle before we bleed the American taxpayer to death.
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