Whah.
I'm so over everyone whining about AIG's abuse of bailout funds. I fail to comprehend why the Obama administration is so shocked and outraged by the insurance giant's latest stupid move, the operative word in this sentence being LATEST. Remember that one time the firm almost collapsed and we had to dump money into its coffers lest we usher in one of the twelve signs of the EconApocalypse? Remember that other time they blew through the initial bailout in .4 seconds and needed additional funds? Oh, and remember that one other time that AIG lost over $60 billion in the fourth quarter last year, which over $59 billion more than the total combined net worth of everyone you or I have probably ever known?
Obama came out of his bubble today looking like the fourth wife who's shocked that her husband wants to divorce her for yet another younger and hotter assistant. Did it never occur to ANYONE at Treasury to maybe ask AIG execs if they had any future "retention awards" planned when they got the latest dose of TARP funds? Did Obama's finance gurus really believe that the same people who slowly raped our economy over a period of years would instantly and compeltely learn their lessons?
The big losers here: Obama and every other melodramatic politician who is gnashing teeth and tearing out hair while having counsel look into "legal avenues" to rescind the bonuses. If they're still "looking into it," it means it can't happen. Your less intelligent American will fail to understand why the government invests in companies but then have no say in their behavior, and get pretty pissed. Your intelligent American has already realized that their political representives are too entrenched in the thinking that led to this entire mess in the first instance; they realize that this bonus mess is the government's fault, and are also getting pissed.
One would assume that it's probably time for Obama & Co. to reevaluate. When they are all done crying, anyways. ~Slim
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