Hey, we all are pissed off about AIG and those million dollar bonuses; the whole thing makes no sense at all. But somebody must know something – right? How can our government throw around billions of dollars and not have strings attached. Well, it has and how dumb does the whole country look now?
It started with Paulson and Bernake so they shoulder some of the responsibility with Paulson shouldering the most. He got caught with his pants down and just plain panicked. He panicked everyone else around him with the whole “the sky is falling routine” and it worked.
When a bank goes under, the Feds come at night and just take over. I have seen it on “60 Minutes”; a whole team just descends on the bank and takes over. AIG was different; they were just sent a check.
I guess AIG was too big to fail; it would have brought down many others with it. Some say it would have been preferable to the bloody mess unfolding today – they may have a point.
AIG was too big and is too big to govern properly. It was the work of one guy who in the end, created a monster even he could not control. Without rules and regulations things like that can happen and did happen. Was someone in government watching – no but maybe someone will now.
Paying million dollar bonuses to employees that created the mess is a joke but one of the excuses I heard for the bonuses was that those people getting the bonuses are the only ones that can unravel the mess because they are the ones that created it? If they don’t stay and fix the mess, it all just collapses to zero; trillions to zero. Think about that for awhile!
We still should be able to field financial teams that can go into even a giant like AIG and create a game plan to clean the mess up. This could actually help unemployment a little by giving all the unemployed finance whiz kids a job and a real mission, something that actually helps the country and not just their bank accounts.
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