Economics

Ron Hart on the Notorious AIG

|

Da plane, boss, da plane!

Columnist Ron Hart:

Claims by AIG executives that they deserve the bonuses are credible, since they were smart enough to effectively steal $170 billion taxpayer dollars in the first place.

It is rich that Congress, which ran up an $11 trillion deficit, bankrupted the country and then raised its own pay, tells others how to run their financial affairs.

This is particularly ironic as it relates to jets (which, behind other people's pay, is the only thing Congress seems to fixate on) in light of Nancy Pelosi's demand for a larger personal jet to chauffeur her back and forth to California—presumably so she can preach to us about using too much fuel.

Hart continues: "The great thing about leaving business owners alone is that if they make stupid mistakes, they lose money and go bankrupt. Smarter operators move in and the consumer wins.  It is the purest and best way to weed out bad companies."

More here.