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redneckgaijinObama's own Treasury Department did, with help from strongly pro-Wall Street senator Chris Dodd.
Now, there are three explanations for this:
(1) This is a highly Machiavellian scheme to keep America distracted for a while, while the stimulus package and other Obama policies work to bring a bottom to the declining economy. To paraphrase Mark Twain, medicine is nothing more than keeping the patient entertained while the body heals itself; perhaps so also with economies.
(2) Obama and his advisors took things into consideration, decided that fighting lawsuits would waste time and money, and relied on the good sense of AIG executives to pass on bonuses that would cause massive outrage... not counting on AIG's collective greed, stupidity, and arrogance.
Or (the one I currently favor): (3) Bill Geithner is utterly incompetent as Treasury Secretary, and the selection of a Wall Street insider to run Treasury shows incompetence in Obama's administration as well.
What really gets me about this is: this is exactly the way the Bush administration would have handled the exact same situation.
Where's the change?
(And as I type this, Obama is glibly saying, "I'll take responsibility- I'm the President." He goes on to say, in essence, "It's not my fault at all, but as President I'm the one who should have fixed it." Slick, very slick... and, to my mind, very, very phony. And very Bushian.)
Now, there are three explanations for this:
(1) This is a highly Machiavellian scheme to keep America distracted for a while, while the stimulus package and other Obama policies work to bring a bottom to the declining economy. To paraphrase Mark Twain, medicine is nothing more than keeping the patient entertained while the body heals itself; perhaps so also with economies.
(2) Obama and his advisors took things into consideration, decided that fighting lawsuits would waste time and money, and relied on the good sense of AIG executives to pass on bonuses that would cause massive outrage... not counting on AIG's collective greed, stupidity, and arrogance.
Or (the one I currently favor): (3) Bill Geithner is utterly incompetent as Treasury Secretary, and the selection of a Wall Street insider to run Treasury shows incompetence in Obama's administration as well.
What really gets me about this is: this is exactly the way the Bush administration would have handled the exact same situation.
Where's the change?
(And as I type this, Obama is glibly saying, "I'll take responsibility- I'm the President." He goes on to say, in essence, "It's not my fault at all, but as President I'm the one who should have fixed it." Slick, very slick... and, to my mind, very, very phony. And very Bushian.)
