We’ve gotten at least 8 inches so far, and it’s still coming down. RIC morning classes are cancelled, for one. This is something I am not entirely sad about.

In other news, AIG posted a record US corporate loss…and still is asking for a $30bn standby line of credit. AIG CEO Edward Liddy was on Today this morning and assured us that the insurance arm of his company was safe and sound. He further stated that his plan is to sell the insurance division of AIG to raise money to pay back the Federal Reserve.

It is the opinion of this blogger that all these so-called “bailouts” (which are more like “uses of taxpayer money that accomplish even more of nothing than usual”) need to stop, and it might even be argued that wholesale nationalisation of the firms in question would be a better option. If you’re going to do any of it, might as well go all the way. And besides, if there’s going to be misuse of taxpayer money, it’s better that the government does it rather than a private corporation (which isn’t intrinsically accountable to the American people).