Should the AIG bonuses have been paid? Who knows? I certainly can not take Barney Frank's word nor Andrew Cuomo's as both are beating this horse for maximum coverage. What I do know is it appears that these were contractual obligations of the corporation and like it or not, we need to maintain the integrity of contracts if we want to recover from the economic problems of today. If the government uses it's ownership to violate AIG's contracts that will do more damage in one fell swoop that paying out %165 million in bonuses ever could.
Also missing in all of this-Congress attached earmarks equal to 52 times the amount of AIG bonuses. Where is the outrage about this waste of taxpayers money?
Wednesday, March 18, 2009
Subscribe to:
Posts (Atom)