Wednesday, March 18, 2009

Friedman on the AIG Bonuses


Thomas Friedman gets it pretty much right, explaining why the AIG bonuses have created such a problem for the Obama Administration, why the financial bailout is not yet complete, and how difficult it may now be to get the bailout back on track.

I don't agree with everything he says, I don't think Friedman's call for AIG employees to voluntarily give up their bonuses is going to inspire so much as the return of a dollar, and I don't know that his conception of how the bailout might proceed will be successful - nobody does, and Friedman admits that his conception is premised on hope, not certainty - but in a big picture sense he gets it. (And without the Washington Post's condescension.)

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