I am as outraged about the AIG bonuses as the rest of the world. I'm sick about it. A company that was on the verge of economic collapse just 6 months ago can afford to pay out almost every dime of taxpayers money that it received? To many who were responsible for the dire straights to begin with? The entire country should be outraged, and we are.
But let's put the blame where it belongs. President Obama has taken responsibility for this debacle and I have every respect for that. But not only did his team not draft the contracts, he hadn't even been elected at the time AIG received the money! Is he responsible? Well, of course, he was, at that time, a United States Senator and did vote to approve the money. I know there were provisions for oversight in the original, but I don't remember when they were removed. Frankly, this, just like the entire economic meltdown, can be placed at the feet of the last administration (with a little help from their friends.)
Wouldn't it be a lovely idea to allow President Obama to actually get settled in the White House, in the Oval Office, before declaring
President Obama may not realize it yet, but his Katrina moment has arrived.
President Obama's KATRINA moment? Or just one more in the long line of those perpetuated by Dubya?
H/T to Mustang Bobby.