Thursday, March 19, 2009

Ironic: rhymes with moronic

I'm not a political person. I really just don't have any interest in the whole realm, generally speaking. But that doesn't stop me from appreciating good irony.

The furor over the AIG bonuses has been all over the news of late. The whole thing goes beyond stupid into realms of idiocy.

The argument that AIG was contractually obligated to pay the bonuses? Bogus.

The exaggerated attempts by politicians all over the Eastern seaboard who actually put specific language into legislation that approved the bonuses to look innocent of any misdeeds? Bogus.

The administration's posturing regarding the bonuses when they obviously had a responsibility to be watching over this kind of stuff? Bogus.

The article published by Bloomberg yesterday that shows that Freddie Mac and Fannie Mae, currently run by the US government, have retention bonuses in place not unlike those being decried at AIG? Priceless.

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