Wednesday, March 18, 2009

AIG Scandal

An ordinary man can surround himself with two thousand books ... and thenceforward have at least one place in the world in which it is possible to be happy. (Augustine Birrell in One More Day by Sefra Kobrin Pitzele, 18 March)

  • For two days the news media has been talking about the AIG scandal. After the government bought an 80% interest in the failing company the company leaders used millions of dollars in bailout money to pay bonuses to company employees. At this point people are asking, "How the Hell did this happen?" The answer is rather straight forward. Our incompetent federal leaders gave away billions in bailout money to incompetent AIG leaders without having in place adequate controls on how the money could be used. As I always say, "If the fish doesn't smell right, don't eat it." Government and business leaders still "just don't get it."

    Mr. Dickie

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