You know, I realize that nearly the entire Editorial Board is so completely infatuated with President Barack Obama, they don't even think of "change" as a monetary value, but let's really examine this.
Point one: Obama and Sen. Chris Dodd both received money from AIG in their campaign in 2008, to the sum total of about $200,000.
Obama's talk of getting the money back is nothing more than political posturing. Do you really think that Obama is going to ask for money back from a company that donated so much money to his campaign? I think not.
Point two: Bonuses are performance-based. If the "professionals" at AIG are living up to their end of the bargain, why should we not reward them? If the company is failing so badly, then we need people there who can meet or exceed their performance expectations to turn that company around. Should we not give them their bonuses and let them walk away, giving the position to someone possibly less qualified?
A subpoint to this: Not every division of AIG is failing! AIG is a huge company with many divisions. The Financial Products Division (the one that tanked AIG) may be the most well-known now, but another division that has shown profit leases construction equipment and airplanes. Should they not get their bonuses?
Point three: The value of the bonuses is around $160 million. Sounds like a lot, eh? Well, let's put it in terms of the entire AIG bailout: Less than 1/10 of 1 percent. Such a small value when viewed as a part of the whole! If it takes this amount of money to keep productive people on the job, do it! Spending millions now may save us trillions later (or, isn't that the idea?).
Point four: Lest we not forget who authored the bailout for AIG, Secretary of the Treasury "bailout expert" Tim Geithner! This is one of Obama's most widely regarded secretaries. Tisk, tisk, he knew of this! I find the posturing by Obama sickening. He's breaking his promises one by one.
He promised no earmarks, and he failed miserably. He promised stricter rules on lobbyists, he failed. Now he wants wounded veterans to get their own insurance coverage?
Barack blames his troubles on Rush Limbaugh and former President George W. Bush. Stop misdirecting and handle the problems! Our previous president inherited a recession from Clinton. Did he complain? No, he went to work.
This "change" sounds an awful lot like politics of old. Broken promises, posturing, and throwing money at a sinking ship. Welcome back, Carter.
