Biting the Hand that Feed Us – “Spanking” the Wall Street CEO’s Has Consequences

Consequences

We blogged about the consequences of over taxation. Now I want to talk about the consequences of the flap over the AIG corporate bonuses.

I thought the cartoon above really made the point about the outrage shown to AIG executives who were paid bonuses they were for staying with the beleaguered company. Aside from being contractually correct, targeting these executives is also unconstitutional.
Many of the executives have returned their bonuses, even though they were not legally bound to do so, but did out of fear of the witch hunting congress and senate who threatened to “name names”.

After all of this hoopla over the AIG bonuses and Treasury Secretary Timothy Geithner request to Congress to give the White House unprecedented powers to seize large insurers, investment firms and hedge funds that aren’t, in their opinions, solvent enough, does the government actually believe that these very same CEO’s are going to be the least bit interested in buying so called “toxic assets”?

I would think this is a true case of Obama and the Pelosi-ites in congress biting the hand that feeds them.

Original Link.

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