Thursday, March 19, 2009

More thoughts on AIG

Senator Dodd admitted that the provision that would restrict bonuses as a result of federal aid was taken away at the request of the administration yesterday-particularly the treasury department. This would have been applied retroactively to any financial companies that received federal aid. I am shocked and disappointed that the administration would do this. It sure seems like a long way since election night. Things are on thin ice with some of the stuff they are doing. At least Obama came out and said that he was taking full responsibility for what happened. Also, there is a bill that was passed in the House that heavily taxes these bonuses. The bill is partly a "mea culpa" on government's part but it also answers to the voice of the people who are outraged that AIG executives could get bonuses for screwing up the company.

Obama is also going to be on Jay Leno tonight-an unprecedented move by a sitting president. It is part of his agenda for openness and reaching out to the people. If there is any president that would be up for a late night talk show it is him. The atmosphere in the studio should be interesting.

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