Jim:      The subtext of all the auto hearings... what I'm taking away from them, at any rate... is that we've given tens of billions of dollars to financial companies, like AIG, but we'll give the autos nothing...

This, despite the fact that AIG was a rogue outfit, and the autos were building not-so-great cars with expensive union labor. That alone is galling enough but, because AIG has yet to tell us where our money has gone, this has created tremendous speculation about where it is going, and where it's gone already...

Now, on the December 5th analyst meeting of 2007... this was the fulcrum meeting... AIG indicated that it insured a huge amount of our residential mortgage bonds for European banks, to get around the capital rules of Europe...

Now, my sources indicate that AIG has had to make many of those bonds, which are near either worthless, or money-good... in other words, they had to make good on these bonds...