Wednesday, September 17, 2008

What should be done with AIG?

If you've been watching the news, you likely know that AIG has been bailed out - the US government now owns 80% of AIG in exchange for a loan for $85 billion.

My coworkers and I were discussing what to do. I originally thought it should be treated like an anti-trust case - break it up, make it smaller (whether by region or performance).

One coworker had an idea: health insurance.

And then it hit me.

Health insurance.

Start selling off all non health insurance divisions. Announce that AIG will now be the official health insurance provider for the United States citizens. No citizen can be turned away from coverage. Rates offered to the majority of the public, or banished if the person can prove they don't meet a minimum income.

You go to the emergency room, you visit the doctor - you're now covered under AIG. Granted, there will have to be changes, commitments of X amount of tax dollars going to pay for it.

But this could be the start of the US universal health care system. Everything's in place - and the American People now own 80% of this company.

Maybe it's time we told it what its new business is - serving *us*.

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