I am one of those roughly 2/3 of Americans who still have faith in Obama's abilities to multitask on several critical issues while stabilizing the economy. In fact, I think the administration has no choice but to wait and see if the market improves on its own to some degree, as it tentatively did last week, before attempting to put a fair price (for taxpayers) on toxic securities.
As to this AIG bonus crap though, maybe I'm missing something but that is quite simply the last mother f-ing straw. And now Lawrence Summers is coming out saying that the government, which has an 80%+ stake in AIG, can't do anything about it!!! Due to the fact that George Bush, hapless puppet of the rich, negotiated a contract with those fucks!? Fuck that.
Why fuck that? Because capping executive salary was a unilateral renegotiation of contracts with these sorry-ass companies who have done thousands of times more harm to America than Osama Bin Laden could ever hope to do. Why can't bonuses, which is the big part of executive compensation, be capped? Sounds like a whitewash to me.
Here's what Summers said:
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