Monday, March 16, 2009

Tin Ear

AITOOW understands that the bonuses paid to AIG employees may be well deserved? It's only their Credit Default Swap business that's failing. Otherwise, they have a healthy business and those employees should not be punished because another division is losing money. They should at least get an IOU. If the government wanted to set up tiers of creditors in which employee salaries were one tier (a subordianted tier) then they should have closed the lending window when they took office. This would have allowed for a bankruptcy proceeding where AIG could escape their contractual obligations. You must think it's a healthy business underneath it all, or you would have just given the ultimate beneficiaries of the money (the Banks) the capital directly. So now let the company do what it needs to do to keep the healthy parts healthy or this whole exercise will have been pointless. This is no time to be penny wise and pound foolish. You can't have it both ways Obama Claus. And which is the greater sin? This? Or the earmarks that are more voluminous than your own auditory appendages.

I also love how it's always a member of his staff that has the comment too. Will we ever hear what he thinks about an issue? Who gives a rats ass what one of his ass sucks think.

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