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February 4th

Who is really too generous with taxpayer money.

Just as Congress and Obama is about to hand out $900 billion in bonuses to various interest groups, let’s focus on the compensation of those damn dirty executives.

This is what $350 billion pay for? For the right to determine how much the bosses at AIG make a year? To determine which hotel Wells Fargo employees to stay at? Rename the new Mets Stadium?

From what I see, it didn’t pay for keeping these financial institutions solvent. Almost all of the companies accepting TARP money are now worth than less than the amount of TARP money accepted.

If taxpayers are in such a punishing mood, they could have saved several hundred billion dollars and let these institutions go bankrupt instead.

Instead of wondering why corporate boards are so generous with bonuses and benefits, taxpayers should wonder why Congress is using the recession to be generous with nearly a trillion non-existent dollars.

Update: What the hell? Look, foreign competition is inevitable. What better way to have an advantage than to take other countries’ best and brightest and have them work for us?

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