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Marking the Boundaries March 24, 2009

Posted by gregquill in Uncategorized.

The AIG mess has illustrated that the new administration has boundaries, beyond which they are simply incompetent. No surprise; every administration has limits.

There is the poorly considered and poorly executed $182.5 billion federal bailout of AIG.  Then, AIG paid $165 million in bonuses to employees of the division that triggered the rescue.

The administration, and Andrew Cuomo, wring their hands and wonder why oh why did AIG pay the bonuses? The people in that division lost $61.7 billion in the fourth quarter alone.

Well, isn’t the job of those employees to make money for AIG? Didn’t they get 182,500,000,000 free dollars for the company? From the government?

Corporate types will tell you: Clearly, that’s exceeding expectations!




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