I can't understand how this AIG bonus scandal has been getting so much media airtime without the issue of who decided to write a contract offering them this money being properly looked at.
AIG is a company. They want money. The government said, 'Hey, since you're so big we can't let you go fail without our economy going into a tailspin, how about we give you a ton of money to make up for the idiotic moves you made to run yourself into the ground?' AIG says, 'Sure, write a contract that lets us spend a bunch of that money on bonuses for the people who got us into this mess.' and some group of assholes in the government decide this is a good idea (Dodd/Bernanke/whoever else) and write up the thing. And now people are mad at AIG? This seems misdirected to me.
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AIG is a company. They want money. The government said, 'Hey, since you're so big we can't let you go fail without our economy going into a tailspin, how about we give you a ton of money to make up for the idiotic moves you made to run yourself into the ground?' AIG says, 'Sure, write a contract that lets us spend a bunch of that money on bonuses for the people who got us into this mess.' and some group of assholes in the government decide this is a good idea (Dodd/Bernanke/whoever else) and write up the thing. And now people are mad at AIG? This seems misdirected to me.
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