gingrich

In his weekly newsletter, Former Speaker of the House Newt Gingrich called on the Obama administration to abandon the strategy of bailing out failing companies, insisting that companies choose bankruptcy or receivership as the only way to restore a sense of order and fairness to the economic system. Gingrich writes "So far, the American taxpayers are on the hook for $170 billion to AIG - that’s an astounding $1,224 per taxpayer." He also points out that any company that needs a $170 billion taxpayer bailout is a failed company, and that the executives that led that company are failed executives.