Get ready for the adjective "outrageous" to be uttered far and abroad in the wake of news that AIG will pay $450 million in bonuses to the very group of guys and gals who forced the United States of America to take what amounts to an 80% stake in the house of cards.
But it's not AIG that one should be furious with. By now we should be over it. It's the gutless fellows who should be looking out for the shareholders (us, more or less) that have me in a boil.
How laughable. If Geithner and Summers had any gumption (after all, the taxpayer owns AIG), they would have called CEO Liddy's bluff and said sue us if you think you are contractually obligated to pay for failure, and we'll see what happens. I'm no lawyer, but it seems to me you'd have a pretty good hand in this poker game.
Not to go all biblical, but can we get some guys to chase the money changers out of the temple and quit backing down? This appears to be a case that if you owe the bank (the United States of America) a gazillion dollars, you own the bank.
Man up, fellows, or the Don't Tread on Me flags will be flying in the streets.
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