washingtonpost.com
I did this before. When I lost my job....I started work at Caterpillar. I made 500 bucks a week with overtime. I had a lot of bills...a lot of credit card debt. Sometimes, I couldn't pay one card. I could pay, but I couldn't pay the whole thing...so might as well pay nothing....still gonna be late, ya know? Save it for the next payment.
Slow....suicide. I was looking at bankruptcy lawyers in the phone book....it was that bad. I then found another job in IT...and got back on track...and out of debt.
When I read this article, AIG looks like me. They're sunk. And they don't have the out that I had, 'cept for bankruptcy.
Just let the ****ers die, already. They're in too deep and they have too many obligations. Better to rip off the bandaid fast, than slow.