This whole thing is stupid.
The Federal government knows how to, and is quite good at, placing conditions on receiving federal funds. Don't tell me that they couldn't have expressly required that the cash they gave to AIG did not go to bonuses, or anything else deemed wasteful. Of course they could have.
They chose not to. It was deliberate.
And now that the funds are being used for that, everyone's pissed at AIG, and it's Congress rousing the rabble.
Does anyone else find that at least a little disconcerting?
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2 comments:
I'm not convinced that placing conditions on the funds would've absolved AIG of their contractual obligations to pay the bonuses. It might have meant that AIG would've had to have some interesting negotiations with the bonus recipients.
In the end I agree that the blame for this problem, such that it's really a problem at all, is congress' and not AIG's.
The scandal isn't that they're getting bonuses, it's that taxpayer money is going towards them. AIG obviously isn't making its ends meet, which means some of its obligations are going unfulfilled. If you Congress had put a string on the funds, it would have had a say in which obligations are met and who goes wanting. And OUR money would have gone towards obligations deemed appropriate.
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