Sunday, March 15, 2009

Anger, AIG, and bailouts

It's easy to get angry at AIG and the other financial institutions that have contributed so much to our current economic mess... and to resent them for the taxpayer dollars that we're spending to avoid a total banking system meltdown.

But anger won't solve the problem. We've got to keep our heads.

As for this crap about AIG having contracts with its employees that obligates it to pay bonuses despite it losing billions and billions of dollars last year, I say get a court order abrogating those contracts. These bonuses were supposedly structured to keep AIG from losing key employees. My view on the matter: with the mess Wall Street is in, where are they going to go?

More here and here.

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