simple AIG Presidential overmicromangement
The governmental fools spent our cash to save the nation’s largest insurance company. So we own it. But since the law that spent our money to save a corporate batch of idiots maintained some old contracts that let the idiots get free multi-million-dollar rewards. The idiots get rewarded by the government for failure. The government allowed it. Since the government probably should not be carrying this responsibility (but it does) I would let it go. The biggest reason to let it go is that the bonuses are legal and the loan to save the company was in the so much billions that the bonuses are not even 1/10 of 1% of the loan.
The fact is the President and the Congress have spent about a trillion dollars in the last 9 weeks or so. They are wasting precious time and government resources making virulent declarations about mere millions of dollars. In terms of public policy concerns this just hacks me off. If the President of the United States prioritizes like this, why should I take him seriously? His authority and power demand my attention but his office demands my respect. His actions and declarations, however, concern me because he is targetting individuals because of Chris Dodd’s lack of attention.
Then Barbara Boxer talks about “the corporate culture”. Whether these sales vultures earn the money or not, whether the money should exist under AIG auspices or not, are not items up for discussion in a smart world. The federal legislature is not a smart world. The fact is these sales vultures deserve the money not because they earned it but because it is in their contracts. If Congress drafts laws to nullify individuals’ contracts, individual contracts, by name, is this not a great threat to liberty?
Never mind that, Barney Frank is using federal energy, resources, to hunt the most dangerous game: men in ties!
This is like spending 90 days to clean a thimble when your home is being threatened with foreclosure in 100 days!