AIG must think U.S. taxpayers are suckers and, you know what,we are.

If you read the papers–or surf the web–you no doubt know that the government has restructured the bailout of American International Group, the giant insurance company that is now pretty much owned by U.S. taxpayers who will get stuck holding the bag should all that money AIG is now getting fail to save it.

AIG is now getting $150 billion from Uncle Same–some $27 billion more than before.

True, the government walks away with a $40 billion equity stake in AIG, but is also now exposed, as Reuters points out, “to billion of dollars of potential losses.”

Of course, this may all pale by comparison once the government goes into the car manufacturing business as seems likely to happen.

Is there no end to what businesses the government won’t pump tax dollars into in order to save them and, allegedly, the world from financial ruin?

Doesn’t look like it.

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