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Tuesday, March 17, 2009

The wheels on the bus go "crunch, crunch, crunch..."

From Drudge-"Bonus Mess Depeletes Obama Capital".
OK, so the lefties at 1600 Pennsylvania Ave and under the great marble dome are in a huff and outrage over bonuses at AIG. Did the greatest minds ever assembled who worked out the loan to AIG , well, how did they work out the loan provisions? What are the loan provisions? As there are a number of divisions in AIG, which divisions are involved? As this a LOAN, not a purchase, again, what are/were the strings attached with the loan? How about real businessmen looking over the terms? Are we to assume that the greatest minds ever assembled got it, well, wrong? There's no way BHO and the Congress get out of this one. They either didn't get it right (no surprises) or are going to try to cancel AIG contracts. They will certainly do as they have for decades- blame everyone they can see and take no responsibility themselves, unless it's in some self-serving way ("We thought we could trust AIG to do the right thing.")
The one big question I have is "Who gets thrown under the bus on this one?"
The same people that have brought you Medicare, Fannie and Freddie, the sub-prime disaster, Bernie Madoff, etc are the same people who now know how to run a multi-billion dollar international business.
Let them start with running their respective lunchrooms first.


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