Thursday, March 19, 2009

AIG bonuses -- another view

Daniel Drezner, of Tufts and Foreign Policy magazine, has a nice little post (that agrees with my views expressed earlier) that the AIG bonus issue involves much more distraction than substance. Of course it reflected a certain cluelessness on the part of AIG as to how it would play out -- though in truth it is always difficult to predict what will catch public attention and resonate, even for people who have been at the game a long time -- and of course there's a certain outrageousness to giving the bonuses to people who made huge mistakes. But the real outrage is the bailout itself, compared to which the bonus money is minuscule.

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