AIG's woes put public transit in trouble with banks

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And even though I understand that bail outs are the only way to avoid an epic melt down doesn't mean I have to like them or cheer for them.

How does this say I want to see a financial collapse? How do I support free, unregulated markets here? As a matter of fact I don't. I'm for government regulation. However in the prisoner's dilemma the only solution here is the bail out and as in the game it is suboptimal! That still means it is the right solution but I still think it is suboptimal because many get a free pass. There is also a difference between a sweeping, badly managed bail out and a well administered, more focused, better thought through version. Unfortunately we are witnessing the former rather than the latter.

Another thing I do believe in though is the business cycle and even though there may have been substantial economic growth some of that will be lost now and rightly so. You can only cushion the business cycle so much but you cannot undo it. I am also glad to see that there are less $40 million penthouses in NY - that money could probably feed an entire African country for a year. If this crisis does one good thing it is probably to ground everyone a bit.