Three have died already. This is yet another failure of unregulated markets. Considering all the tainted pet food and lead-filled toys that caused a scare last year, maybe the Chinese are finally going to realize that they’ll have to regulate their products better. You can’t just let the private sector “police itself.”
And the Dow has dropped another 250 points as of this writing. The federal government has agreed to loan AIG $85 billion. If AIG can’t recover and pay that back (plus interest), the fed gets 80% of the company.
When will the idealogues learn? We’ve seen this before, in 1928 and 1987. Those who won’t learn from history are destined to repeat it.
