I understand Obama's railing against the bonuses -- but I think he may be making a mistake, both short-term and long-term.
Well, because in the short run, hammering the AIG employees to give back their bonuses risks costing the government more than honoring the contracts would. The worst malefactors at AIG are gone. The new top management isn't taking bonuses. Those in the bonus pool are making sums that for most of us would be astronomical but that are significantly less than what they used to make. Driving away the very people who understand how to fix this complicated mess may make everyone else feel better, but it isn't particularly cost-effective.
Yes, it really would be a tragedy if these hard-working Joes, the backbone of American industry, were driven away while their industry was collapsing and thousands of qualified people, who have not been part of destroying a financial giant, were looking for work.
Jesus Christ driving a turnip truck.
It gets worse, though. While Joe Sweat-Argyle needs his promised bonus, Joe Lunchbox at UAW can go take a leap. Yes, he has been forced to renegotiate a contract, but that's a future contract you see, so it's cool. He's already been paid for what he has done, if he doesn't like the new contract, he doesn't have to show up to work. It's just that simple.
There you have it, the nation's liberal media at work.