Tonight's story on MarketWatch.com is that the U. S. Treasury is going to DEDUCT the 165 million dollar bonuses from the NEXT 30 billion dollar bailout the government is going to give AIG.
Are lyou hysterically laughing, or hysterically crying? I am doing both. You could never make this stuff up. Geitner (Treasury Secretary) needs to take over Jay Leno's job when Leno retires. Who knew Geitner was this much of a comedian?
See my previous, dead on, entry today about ow the 165 million is not the problem The 200 billion (or so) in AIG bailout money is the problem--taxpayer money that is paying for all kinds of previous bonuses and mistakes at AIG, way beyond the 165 milion (173 billion, and counting. 165 million is a drop in the buket in 30 bilion--much less in 173 billion.
Does it make you feel better that the U.S. Treasury is making AIG "reimburse" the taxpayers 165 million (petty cash)? Have you quit hysterically laughing/crying yet? This is taking government absurdity to absurd levels. What is the purpose of this bailout money? Is it not to give AIG the money it NEEDS to "survive" (as the living dead, although still evidently able to give bonuses)? If AIG really NEEDS lthe 165 million, then it is absurd to suggest that the government is not going to give it to them. Tonight's story makes clear what this blog told you this morning: AIG has a BLANK CHECK. If AIG does not "need" the 165 million, of course, why are we giving it to them in the first place.
Enough. This is absurd. This is worse than Henry Paulson, and I did not think that was possible (although I knew Geitner was part of the Paulson "planning" in the first place--see entries in the archives of this blog). If you are not laughing at this, you have both no sense of humor and no sense of the contempt these "smart" people have for you.
The idea that this "announcement" will cause ANYBODY to think better of our government in general, or bailouts in particular, should INSULT every single person out there.
I am sorry. You are lucky. I might keep going in outrage, thereby boring you to death. But I can't. I am laughing too hard, or maybe crying. I can't tell.