Ross Williams Lays It Down

Just read Andrew Ross Sorkin's article supporting AIG bonuses after hearing him on The Takeaway this morning. Does he honestly believe what he's saying or is he just trying to get attention?

I challenge you to read the article without becoming nauseous.

Best comment:

Its really very simple. Without government intervention, AIG would be bankrupt and none of those bonuses would have been paid.

The government breaks contracts in bankruptcy all the time. Of course it does set a precedent for people who loot their companies and the taxpayers. Even if the goovernment bails out the company, they may not get all the loot they expected. I don't know that is such a bad thing.

The truth is, the government ought to be going after many of these employees with criminal fraud charges. Its pretty obvious they sold more credit default swaps than their company could afford to pay off. Those were contracts too.

— Ross Williams, Minnesota