AIG and the Bogus Bonus Debate
When it comes to the media, I must give the devil his due. The AIG bonus debacle is just another example of the mindless American public falling victim the media hysteria machine. Our government decides to bailout a giant corporation with taxpayer dollars and at the same time tell them what they can't do with the money. Let's think about this: If I borrow $1,000 from a friend to help get my out of credit card debt, then it makes no sense for my Friend to give me the money and then tell me not to pay the credit card company. If my friend objects then they shouldn't give me the money. When the bailout was approved, what obligations did the feds think AIG had? Financial institutions are on the hook half the time to other financial institutions. My problem with the bailout is our federal government who allow the same circus performers on our financial services committee to bungle once again. This is solely where the public anger should be focused. Chris Dodd, managed to tell t