AIG
By Walter GaltThe AIG bonus “outrage” of the last week is a complete joke, put forth by the same people who voted to give these people our tax money in the first place. For excellent commentary, please refer to the following articles:
Minority View, from Powerlineblog. A good sum up of the facts behind the whole thing.
Dodd Changes His Story, from Powerlineblog.
Bill Of Attainder, from Wikipedia. The 90% tax bill passed by the House is completely unconstitutional. Not that they care about that sort of thing. Apparently even the Obama Administration is starting to think so.
J Norman Marsh Said,
March 23, 2009 @ 7:21 am
The main points of the AIG fiasco:
1. Government intrusion only leads to more government intrusion, which leads to more government intrusion. Once you take the government’s money, you’re in their debt and they can tell you how to spend it, how to organize your company, whom to hire/not hire, etc. It’s a slippery slope from where we are currently to where government bureaucrats are running an insurance company.
2. There are unintended consequences for every action; centralized control is only the solution to a problem in a world where everything is knowable and predictable. As that’s clearly not the case, centralized control only leads to more problems as those involved (politicians included) attempt to maximize their self-interest.