Xaotik Designs

Now, I haven’t been following the whole AIG scandal as closely as I probably should.  The way I see it, Obama and Co. will piss my money away faster than a Kenedy in a liquer store whether I read about it or not.  But I have listened a little.

The way that I understand it.  AIG said that they needed money.   The government said that they had money.   AIG then stated that they would love to have some of that money.  After accepting this money, they paid out millions of dollars in bonuses to their execs.  Now, I can see how people can be upset, how can they pay out millions if they they have to beg for money?

Myself, I see no problem.  The way that the bailout was written, bonuses were capped unless the contract awarding them were signed prior to a certian date.  The contacts at AIG were within that exception, so the bonuses were paid. Instead of letting the company fail, we, and by we, I mean our elected officials, decided to give them money to honor their contracts and continue to function.

Now, everybody is flipping shitkittens over this.  The a bill was passed to tax the bonuses by 90%, which I’m sure is allowed in the constitution somewhere, and we have attorney generals threatening to hand out names to the press so that the mob can take care of the situation, you know, rather than using due process and all that other legal nonsense…

From what I can tell, the govermnent fucked up.  Then, in order to try and make it look better, they fucked up a whole lot more.  In the end, I think that Obama said it best when he changed the mantra from, “Yes we can!” to, “Don’t expect too much from me”