What a Ridiculous Thought in the NY Times

What a crock of manure this article (Dealbook – The Case for Paying the A.I.G. Bonuses – NYTimes.com) presents.   The sanctity of contracts.  Let us remember that AIG went bankrupt for all intent and purposes.  Employment contracts then and there should have been voided.   Just because the government attempted to manage perception and a sense of solvency to the financial system is no excuse for AIG employees–who ran the ship into the ground–to profit.

The government should immediately have AIG file for bankruptcy–paying entities like Goldman who received government equity funds, and payments from AIG is an additional fraud–and let the veil of bankruptcy allow the government figure out who to pay and who not to pay.   These shenanigans of complex deals that result in profit by the people that created the mess is fraud.  A simple con wrapped in a complex derivative.

Tired of getting ripped off.   Rather rediscover reading by candlelight that know some uppity smart ass classmate is still getting paid.

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