Ed Liddy sized up this situation when he got to AIG and came to the conclusion that the best course for taxpayers and for the financial system was to pay the bonuses. This gets back to something I wrote earlier: If Obama disagrees with Liddy's decision, he should either A) fire Liddy, or B) fire the guy who hired Liddy (Tim Geithner). What he should not do is go along with this Kabuki outrage, in which official Washington pretends it had no idea that big financial institutions — especially failing ones — might need to keep paying their top employees competitive salaries.
That would seem so obvious it need not be said, but apparently the entire press corps has decided to do the Kabuki dance along with the clown show on Capitol Hill.
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Thursday, March 19, 2009
"clown show on Capitol Hill."
From Tigerhawk:
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