Geithner and AIG


“We will impose on AIG a contractual commitment to pay the Treasury from the operations of the company the amount of the retention awards just paid,” Geithner said in a letter to congressional leaders.

So let me make sure I have this right.  We have to give them $170 billion so that they don’t fail.  But we have to make them give back $165 million because we think they were poopyheads for the way they spent it.  So icky-nasty, in fact, that we don’t care if it makes them fail.

Unless it actually makes them fail, in which case we are going to give them another umpteen billion dollars.  And if they pay it and don’t fail either, then it means that we overpaid them at $165 million in the first place.

Am I the only one that thinks that everyone in the Treasury would be out on thier ass on the beach if their bosses had any more sense than Congressmen and Presidents, which is pretty much every non-government boss in the country?

One Comment

  1. R says:

    No, I think that, too.