re: #165 subsailor68

It has become evident to me that this entire AIG mess is an example of what happens when politicians believe, mistakenly, that they know how to run a business. It has become clear that people like Geithner knew about the bonus issue (he was asked about it during a congressional hearing back in February - IIRC?), which means Congress knew, or should have known - since a member asked the question.

And they went ahead with it anyway.

And then they wanted a do-over.

And now Obama is making noises about increased control by government.

Hey Mr. President, how’re Amtrak and the Post Office doing? See any problems there?

Not only did Geithner probably know, but he probably didn’t care….it is standard oerating procedure for big business so no bell went off in his head. The bailout money was to bail out a business that was heading to oblivion. I am sure if he had been asked before all of this hit the fan, he probably wouldn’t have demonized the bonuses.

If a bonus was contracted as part of an employee salary, then who is Barney or Chris to say differently? If a board of directors thinks that salaries are too large then they should reduce them. If they think paying that much for the best and brightest to make them a profit is the way to go, then fine.

I think getting paid $25 million to make a film is too much. Other’s would say look at the number of tickets that star sells to watch the movie….an investment to increase the bottom line. Don’t see any of the great Hollywood thinkers putting their two cents in here…strange, they are always involved in other political problems.

When this is over, they will not have only punished AIG. They will have punished every business in this country. They will kill incentive, kill competition for profit, kill capitalism.

Thanks Barney and Chris.