March 17th 2009
from Cheat Seeking Missles
Posted by: Laer at 04:51 am
This morning, the AP nailed Pres. Obama for political grandstanding, a sign that the media is sniffing the wind and questioning the continued viability of Obama-fawning as an editorial policy. The story covered the White House’s failed and weak effort to stop AIG from paying out $165 million in bonuses to executives in the division that screwed up so badly it necessitated - or so they say - the company’s federal bailout.
Obama directed Treasury Secretary Timothy Geithner to see whether there was any way to retrieve or stop the bonus money — a move designed as much for public relations as for public policy.
And that’s in the news hole, folks, not on the opinon page.
Obama and Geithner had plenty of time to stand in the schoolhouse door on this one, but instead they shook their fists impotently and moaned about contracts. Contracts, schmontracts. If it weren’t for the bailout, AIG would be BK, the execs wouldn’t have jobs, and they certainly wouldn’t be divvying up a cool $165 mil of your money and mine.
Click to read the article
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