Andre Ross Sorkin in today's New York Times makes a case for honoring the AIG bonuses - his position being that honoring legal contracts is an essential foundation for enterprise; it would be chaotic if corporations, whether recipients of bailout packages or not, could simply choose to break a legal contract. Let's accept that. Still, the question is: Why would those bonuses be paid out of government stimulus money? AIG should pay its bonuses out of its pre-stimulus fund. Isn't that what it would have had to do if there had been no bailout? Pay the bonuses, but not with our money!
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Excellent and common sense suggestion!
Posted by: zechariah aloysius hillyard | April 09, 2009 at 04:08 AM