Bailout, bonus, bankruptcy

The AIG bonuses are one-thousandth the size of the AIG bailout, yet everyone is outraged over the bonuses and not the bailout and where the bailout money went. A Wall Street Journal editorial details where it went. And, as someone else pointed out yesterday, the bonus brouhaha only points to the fact that the bailout had no rules. A supervised bankruptcy does have rules, and would have been the way to go.

Posted by Lawrence Auster at March 17, 2009 11:03 PM | Send