Countrywide, Fannie Mae, Freddie Mac, AIG Who?
Posted March 20th, 2009 at 10.52am in Enterprise and Free Markets.
As Congress builds its target list with any wage earner who makes over $250,000 and is even slightly tied to a company recieving TARP funds, let’s not forget who modified the $800 billion stimulus bill to formally recognize these bonuses in the first place.
What it really shows is how the government has completely bungled the AIG takeover. Blame the Bush administration and the Obama administration. It also shows, once again, why the government shouldn’t run anything, because it cannot run anything. AIG should have been placed in bankruptcy last fall under some sort of government sponsorship. While in bankruptcy, all the salary contracts (and every other AIG contract) would have been nullified and voided.
- Author: Rory Cooper
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March 20, 2009 The AIG (And Everyone Else) Bill: Counterproductive and Unconstitutional writes:
[...] We Got Here: Senator Chris Dodd would like you to forget that he inserted specific language recognizing AIG’s executive compensation into the $800 billion [...]