re: #607 CyanSnowHawk

The contracts that obligate AIG to pay these bonuses were made long before the bailout was given. The Fed threw this money at AIG and did it so fast that they missed a significant number of ‘minor’ details in the implementation. Now the Fed wants to come in and invalidate legal contracts because they don’t like the terms. That is a VERY BAD IDEA that is just loaded with unintended consequences. The bailout money should have been withheld pending agreement from those executives to give up the bonuses as a condition of the company receiving the money. It is too late now.

The 0 adm. doesn’t know anything about contract law, I guess.