After loaning insurance giant AIG $85 billion in September, the Federal Reserve announced on Oct. 8 that it would lend the company another $37 billion. This shocking news led to a new segment on Saturday Night Live’s Weekend Update with Seth Myers and Amy Poehler called “Oh My God, Are You Serious!?! Really?” As Amy puts it, “It’s like you gave your junkie cousin $100 for rent, and then you ran into him at the dog track, and you gave him another $37 billion!”

Like most Americans, I’m not entirely comfortable with this whole bailout thing. To begin with, it totally ruins our argument against the evils of socialism when the only way we can save the private market in this country is by asking the government for help. And the fact that a big part of the reason we got into this mess in the first place is because of a lack of governmental oversight is just the icing on the cake.

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