The Whole AIG mess

Like most Americans I have been disgusted with the whole AIG thing. However I have a different take on the whole thing. I was opposed to the initial bailout of AIG, and am opposed to any future bailouts of that or any other company as I believe in allowing the free market to work ( if this blog stops abruptly it is because the Feds came in here and arrested me for practicing capitalism). What I have found hiliarious in this current mess is the fact that we bailed out a company, that was absolutely failing in the free market because of the business decisions that they made over the course of the last five years, normally we would have let a business fail but since we now live in a society that believes in equality of success rather then just opportunity we bailed this failing company out, but left all of the people who ran the company into the ground in charge, we left all of the contracts in place ( such as the payment agreements) and yet when the people that got AIG into this mess in the first place, where given a bailout and told to keep doing business as usual they believed the government that told them that and did so. Now we are amazed that AIG is still losing money and is paying executives bonuses to spite failure but thats what these guys have done all along and they got rewarded for it. ,

Now I don't buy into the hype, these CEO's did nothing legally wrong ( morally I wonder how they sleep at night but legally they did nothing wrong) as TARP had no provisions for how they ran there companies, the middle and upper management that got the bonuses that they were due contractually did nothing wrong, yet congress in its impotents wants to investigate, smear, and in some cases put at risk these people who where only rewarded by this same congress for their failure.

Congressman Barney Frank (D-MASS) one of the arcitects of the sub-prime crisis, has been spouting off about wanting the CEO ( the new Government appointed Ceo, it should scare every American that the governement is appointing CEO, I expect to start hearing terms like "Comrade" and "For the good of the state" to be thrown around at these congressional hearings.) to name the names of all of the people who got bonuses, bonuses that AIG was LEGALLY under CONTRACT to pay. This includes the middle and lower management as well. Now the CEO rightfully asked not to release the names as he fears for their safety, again these people have done nothing wrong legally, especially the middle and lower management many who worked hard to try to pull AIG out of these mess. He rightfully so believes that should their names be released to the public and a shill like Congressmen Franks and the political hacks in congress. It is very possible that wingnuts like people from the daily Kos, Moveon ,org or the Code Pink nut jobs might actually try to hurt these people and as pissed as I am about this stuff I don't want to see anyone get hurt.

I do have a solution to this mess. We tell the CEO and management of AIG "good game" that they threw one buy us and to savor the flavor and let them know that they are on there own financially. If they fail they fail if they manage to survive then they own the people of the U.S. ever cent back that we gave them. We must stop bailing companies out, rewarding them for failure only leads to more failure. STOP ALREADY!