It's the little things...

...that shouldn't distract us from the big things. Like the $80 BILLION dollars we gave AIG or the hundreds of billions in the stimulus package and the trillions in the new budget and the trillions in new deficit and debt we are creating with the spending orgy currently going on in Congress. Don't forget, Congress got raises this year... no doubt deserved for the wonderful job they are doing. But let's spend all of our time discussing 0.2% of the money given to AIG that was paid out in bonuses that had been agreed to in signed contracts before the bailout was paid. If AIG had gone bankrupt, the bankruptcy court could have altered compensation agreements. But no, we gave them "bailout" money and put AIG in a new position with no real legal precedent.

But all of that aside, spending so much energy focused on such a small part of the AIG bailout is foolish with so many other really important things to be dealing with. Someone in Congress needs to show some leadership and explain the situation and then state that they will not waste any more time worrying about it when we have billions of dollars to worry about and an entire economy to save.

Technorati: Economics, Politics