We need to remember our past lest we repeat repeat it.
While everyone is upset about the AIG bonuses, let us work to discover if the contracts are legal. Let us look to our Tim G (the only one who can do the job). I believe he was aware of contractual bonuses before the middle of February.
There are many calling for caps on salaries. The President declares no executive will receive compensation exceeding $500,000 annually if his/her company took $ from the government. Will we see the best people to steer those vessels jump ship?
Some of us remember President Clinton who also lived in envy of industry leaders' incomes. In 1993 while we were in a down economy, he signed a law limiting a company from deducting a salary of more than $1,000,000 from its taxes.
Do you remember the explosion of stock options? Bonuses became the way to compensate the highest earners. It still is.
I imagine the AIG bonuses are legal. I think the government or at least our man Tim was fully aware of them.
Are "they" using the bonus outrage to distract us from the next wave of $ that will soon wash into the financial institutions. With us all angry and possibly envious, Mr. Tim will be busy printing more $.
'til later
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Most of what our federal government concerns itself with is unauthorized by our irrelevant Constitution. Maybe fanciful readings of the document to justify the far-flung activities taken on by our vote-buying representatives should be dispensed with by simply declaring the old worthless document null and void.
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