Incompetent U.S. Congress Allowed AIG Bonuses

Members of the U.S. House and Senate who voted for the "bailout" had to suspect AIG and other recipients of public money would likely grant employees substantial bonuses. Why didn't Congress include language in their bill that prevented such greed? After all, if greedy people themselves recognize any trait in others, it's the penchant for greed.

Now members of Congress are singing the blues just for the folks back home. Now they are "going to do something" about that bonus money AIG gave employees. Now Congress wants to play the role of hero. Now Congress is screaming for responsible behavior all too late. We, the people, are about to be bamboozled once again by Congress.

The money is gone and not likely to be recovered. The pitiful role being played by Congress now is that of crybaby. Now Congress is stomping, acting and appealing to the electorate. Once again, Congress, that clever lot, is attempting to shift blame for their incompetence.

The strategic time to clarify how those billions would be used was before the measure was passed by Congress. Are we to believe our Congress is so clueless that nobody suspected AIG might mis-manage bailout bucks? Any responsible lender would ask how a borrower intends to use loan proceeds. Consider an individual business owner going to a lender to borrow money to prevent failure. Wouldn't it be prudent for that same lender to demand clarification concerning how the money would be used? Imagine a failing small business owner posing the argument that it will be necessary to give a substantial portion of the borrowed money, as bonuses, to employees in order to keep them in the failing organization. Bonus money to the same employees who helped bring that business close to financial ruin? Seems as though a failing business might be better off without those who brought about the problems.

Many members of Congress now find themselves bobbing and weaving as they try to insulate themselves from possible adverse public reaction. Congress is playing the same old game with the people with this attempt to divert attention from their obvious incompetence. Congress shouldn't expect to fool "all the people all the time."

The AIG leadership is acting according to our national cultural value of greed. If anyone thinks recipients of thousands or millions of dollars feel badly about this deal, think again. Those flush executives believe they are getting what they deserve, what they have earned. Incompetent crybaby members of Congress should get exactly what they deserve also. They should be voted out of office if they voted for the bailout without demanding stipulations and limits on how the taxpayers' money was to be used. They can yell and scream, pose, strut and call for "claw-back" but they aren't fooling anyone. They just look and sound like the playground bully who just got whupped, while spluttering, "Coulda, shoulda, woulda!"