3/17/09

Give The Bonuses Back --Or Else

I have a new piece up on The Daily Beast today on the AIG bonuses.

3 Comments:

Blogger Suzanne said...

It is incredibly naive to suggest or believe that if President Obama just says 'pretty please' and appeals to the patriotism of the bonus recipients they will say,'yes sir' and hand back the money. First, because the patriotism argument probably won't work for the AIG guys in London who masterminded the derivatives that created this mess, and second because even the CEO of AIG is sticking his tongue out at the President.

President Obama only stands to have egg on his face, as well as looking weak if he asks and AIG says no.

Second, your example of Pandit is ill-informed, yesterday it was revealed that Mr. Pandit engages in slight of hand when he says he will only take a $1 salary.....he received $10 million in other compensation last year.

Both Pandit and a select number of AIG staff simply need to be 'sacked' as they say in London.

Playing nice is wasted on those who willfully lie, cheat and steal.

March 17, 2009 at 8:47 AM  
Blogger Michael said...

The argument about the bonuses seems to be that AIG is contractually obligated to pay them-there is nothing Obama or Geitner can do.

I forget where I saw it, but someone noted that the Congress was more than happy to unilaterally abrogate contracts between the UAW and GM. Why not here, when breathtaking fraud and theft have occurred?

March 18, 2009 at 6:30 PM  
Blogger Amelia said...

keep up the good work!!! this was a great piece.

March 27, 2009 at 6:25 PM  

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