AIG is one big taxpayer IOU

In the years ahead, whenever economic conservatives and market absolutists point out the wonders of the market, just mention a popular four-letter word. Actually, this particular word has only three letters: AIG.

And the issue is not the bonus controversy -- far from it. While the public voices understandable anger at the prospect of the federal government rewarding professionals working at under-performing AIG with large bonuses, a matter of far more importance to taxpayers, the economy, and the financial system alike concerns the ultimate cost for the AIG (AIG) bailout.