Dictating the top leadership of a private company is dangerous enough, but committing taxpayer dollars to a venture that should be handled in bankruptcy court is just irresponsible.
Michael Kinsley makes a very valid point on yesterday’s Washington Post Op-Ed page: “The cure for everything these days, especially in the business world and also in the government, is thought to be “transparency”: no secrets. Let people know everything, and abuses will self-correct. But transparency requires more than just supplying the information. What good [...]
In a barrage of committee hearings over the next few days, Treasury Secretary Timothy Geithner is expected to propose a plan to expand the government�s authority to intervene in failing financial institutions to restructure their operations. Politically, Obama stands to gain just as much as he risks losing.
AIG is at it again, acting unscrupulously with taxpayer dollars in an especially shameful way. As if one scandal wasn’t enough, the American International Group, one of the nation’s largest insurance firms, has pledged $165 million in bonuses to its employees. To phrase it more accurately, AIG has pledged $165 million of our money in [...]
