Quote:
Originally Posted by KSigkid
Fair enough, but it seems like you're directing your outrage at AIG and the people who accepted the bonuses. I think it's more reasonable to think about it in the manner that Professors Warren and Baird did; instead of asking why the AIG execs took the bonuses, you should be asking why the President's economic team didn't take a closer look at the contracts, or why it didn't put up more of a fight on the issue.
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Quote:
Originally Posted by Kevin
But you changed the facts to create a hypothetical situation which doesn't exist which seemingly justifies your point of view. That's just not the case. In the real world, AIG has a contractual duty to pay the money, Congress didn't require them to undo the contracts prior to receiving bailout money, ergo, the money should be paid or the execs should sue and get whatever extra damages New York allows for bad faith breaches of contract or failure to pay wages or whatever remedies exist there.
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I may be misremembering my posts, but I think if you read back through, even as stupidly long as they are, you'll see my outrage is pretty well spread out.
I think I spent the longest time on the point that "yeah, things could have been done differently" simply because there seemed to be an attitude of "oh, the money had to be spent on that." Nope. It didn't. It could have been restricted in advance, probably multiple ways. There are people quoted in the article I linked that think it could have been limited after the fact as well.