"Too big to fail." The phrase has become part of the lexicon, heard almost daily to describe a giant company whose demise would -- according to those who employ the phrase -- cause such profound damage as to make failure untenable.
The insurance behemoth AIG is perhaps most often described this way -- and indeed there are few economists who dispute that AIG's failure would cause colossal collateral damage to the global economy.
Still, today's news about those bonuses ($165 million paid to officers of AIG's most problematic division) raises our two questions of the day:
1) When AIG next requests federal help -- as it is expected to do -- will it get that help?
2) Should it get that help?