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Blog Directory Del's Perspective: Mar 17, 2009

Tuesday, March 17, 2009

Begrudging Fairness to A.I.G. Bonuses

The gravamen on the latest A.I.G. flap is a little irritating in that: 1. the Fed and the Treasury have known about the new round of bonuses going to employees in London for months. To come out now and make the officers of A.I.G. look like greedy pigs just doesn't have the smell of something untoward; and, 2. lawyers for the Fed and the Treasury Department approved these bonuses based on the rule of law and not on the will to plunge the public knife of hate into the deeply troubled insurance behemoth.
Money is of course money but having a tizzy fit over the bonus money that equals a mere 1% of the bail out is hardly criminal. The manner in which the latest rounds of bonuses was announced to the press was out of bounds and below the belt.
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