Congress is looking to pass a tax bill on the AIG bonuses that were paid out, due to it's own ignorance in passing legislation that gave the failing company billions of taxpayer dollars:
"Two of those difficulties, lawyers say, lie in Article I of the U.S. Constitution -- a section stating Congress cannot pass any "Bill of Attainder" or "ex post facto" law."
Does that sound familiar? Again, we have a Congress that puts public opinion polls over the Constitution, and they think the rest of us are too stupid to know better.
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Thursday, March 19, 2009
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The government should handle this as being "unreasonable compensation" using the same criteria as do with any other Federal Contractor and recoup the money. The Feds should request AIG write the check for the bonuses if federal funds were used.
ReplyDeleteIf AIG used private capital, than AIG is entitled to keep the money. Let them burn their own private capital if they want to pay such excessive compensation to executives. It shows that the company is poorly runned and did not proper practices for compensation. Let this be a case in B-School for rewarding incompentance. A