Oh, THANK Goodness!!!

Jim Cramer made this shocking point today about and existential threat to the "world capital markets" if AIG was allowed to fail.



Amazingly, against all their principles and in a singularly-rare show of rationality by this Administration, the Feds saw the light!!!

Federal takeover of AIG planned

Federal officials reportedly may take 80% stake in the nation's largest insurer in an $85 billion rescue plan to prevent financial chaos worldwide.

NEW YORK (CNNMoney.com) -- The federal government is reportedly on the verge of taking over crumbling insurer American International Group in an $85 billion deal that could leave the company in the Federal Reserve's hands.

Probably up to a trillion dollars of AIG's obligations will be backed up by the American government and the world's financial system can go on another day.

Thank goodness!!!

May you LIVE in interesting times