AIG Bonus Uproar Continued

This story is getting more press than i expected and it should! The government is running around making irrational decisions like a chicken with it's head cut off. What person in their right mind, buys a company (the US owns 80 percent of AIG) and then creates a situation where all of the qualified people want to leave (take away their bonuses they were promised). Well, our elected congressman and congresswoman did just that.

Here's a pretty interesting NYT article explaining the mess and the problems associated with taxing away the bonuses.

http://www.nytimes.com/2009/03/21/business/21nocera.html?_r=1&emc=eta1

My buddy Scott made some great comments last night. "The US threatens its status as the leader of the free world, ie. where legal contracts mean something. Obama better veto this mess."

I couldn't agree more.

He went on to say, "the next law should outlaw words like million and billion (or trillion), it loses its effect. 165,000,000 (AIG bonuses) or 1,400,000,000,000 (nations debt). (the) Nations debt looks a lot worse like that."

Again Scott, I couldn't agree more.