A lot has been made about the bonuses that AIG paid out using bailout money. People are outraged. People want justice to be served. People can’t comprehend the greed of these slimy bastards.
There’s just one slight problem. AIG has contracts to pay these bonuses. If they don’t pay them, they will undoubtedly get their pants sued off, and guess what money they’d have to use for their legal defense? You guessed it.
Let me preface this by saying that any company who is willing to take bailout money automatically deserves any bad thing that the government does to them. If they were truly capitalists, they would choose death of the company over letting the government tell them what to do. Clearly AIG is not run by capitalists. Apparently it’s run by the same type of morons who are running the government.
I agree it’s outrageous to use taxpayer money to hand out bonuses. Absolutely. I think it’s a stench, an outrage, a despicable thing.
I also think that AIG is pretty much blameless. Yup, you heard me.
Who are the morons who gave private companies taxpayer money with no strings attached? Was it AIG? Was it GM? Was it US?
No, it was the sleazy politicians who went AGAINST the public outcry and dolled out cash to whoever was running their business WORST. Never mind all of the small businesses who are struggling, making hard cuts, and in many cases going out of business. It wouldn’t make sense to help the people who run their businesses well. Instead, we give money to people who’ve already proven that they can’t run their business. Smart. And then we did it without oversight or conditions. Doubly Smart.
And then we wonder why they used the money that way? That’s where we the public have misplaced our anger.
AIG is running their business according to contracts they have in place. If breaking those contracts was a condition of taking bailout money, that would be one thing. But it wasn’t.
Our anger is deserved, but it should be aimed at the utter morons who decided to take OUR money and give it to BAD BUSINESSMEN. HELLO!
If we’re really capitalists, then people who are crooks and morons will run their business poorly and go bankrupt, and the people who are smart and honest will succeed. Do you really think if AIG or CITI went out of business that the world would end? Or would all of their competitors benefit and thus eliminate the burden on the economy of a poorly run business and replace it with a well-run alternative?
The best way to f%@# up your economy is to let the government have the reigns.
Be angry. Just not at AIG.