missing the point on aig

To bitch about AIG using federal "bailout" money to meet its contractual obligations to its employees is to miss the point entirely. The problem isn't the bonuses...the problem is that the "bailout" (I use quotes because it's properly pronounced "nationalization") occurred at all.

But whatever. If it takes some stupid populist backlash against rich people getting paid by the taxpayers (just what the fuck did you think was going to happen when the government got in the business of owning banks, brokerages, and insurance companies anyway?) to pull Obama and the congress off the nationalization track, then I'm all for it.

Businesses need to be allowed to fail. It's part of the cycle.


Gino said...

when stop to consider that a large part of the population was opposed to the various 'bailouts' from the beginning, we just may have a perfect populist storm.

not that it would matter that much in the long run.

KeepDurhamDifferent! said...

Why don't we deregulate and let the European and Asian banks operate like "our" banks get to do abroad?

There are Citibank branches all over Tokyo and Mexico City, but you won't see so much as a Nippon Bank ATM in these parts.

Disclosure: I consult for a swiss bank whose purchase of First Boston required a special act of Congress (after Milken & Drexel Burnam ran us into the ground). Hello, does anyone remember the lessons of these so-called crises?

Anonymous said...

SEO排名不好玩= =

Brian said...

For the non-Chinese readers out there, that is roughly:

"The second-hand furniture is also cheap is also easy to use the good Moving company to introduce that which your tasty tea does buy! What can A piece of many younger sisters look at SEO the place unamusing = = SEO place? How does SEO arrange quite on quickly! Does not consider lets your fine Moving company please look for the yellow page to look how the Moving company does choose is quite good"

Anyway...谢谢您的評論。 现在親切地滾開。

Gino said...

and in english?


Brian said...

I have no idea. I am completely at the mercy of Babelfish.