AIG to post $60 billion loss, is it time to stop the bailout madness?

Whatever happened to the idea of free markets? That was a quaint notion in which companies that offered better products made a profit and rewarded their shareholders and those that couldn't make money went bankrupt.

I am not sure there was ever a time when things were that simple but now we're in a situation where average Americans are watching their tax dollars go to bail out the record breaking mistakes of executives who use that money to take expensive vacations.

This is where things stand with American International Group(NYSE: AIG) which is about to post the biggest quarterly loss in American history: $60 billion.