I am enjoying the torrent of outrage and vituperation over the AIG bonuses. Yes there should be outrage, but not at AIG. Like Chris Rock said about Manticore: "that tiger didn't go crazy, that tiger went TIGER".
Same here. Roy got mauled because an idiot got in a cage with a tiger. We are in the situation we are in because incompetent government bureaucrats got into a deal with a tiger.
They (said bureaucrats) either didn't think to ask, "hey are you planning any inconvenient bonus payments?" or they didn't care. Geithner must go.
Many people have said if the Gov. can force the UAW to renegotiate contracts, why not the same for the AIG bonuses? Well it seems like the difference is ex-ante vs. ex-post. Ex-ante, sure, you can put any conditions you want on aid and the other party can take it or leave it. Ex-post, not so much.
Of course, in true "lady who swallowed a fly" fashion, we are going to follow this government screw up with more hasty ill-conceived government actions to "fix" the problem. Wake me up when the get to the horse.