Re: [Pen-l] AIG: screw the contracts

[Doug Henwood <dhenwood@xxxxxxxxx>]

On Mar 17, 2009, at 12:42 PM, Jim Devine wrote:

> raghu wrote:
> > But I wouldn't be too harsh on Obama. The man needs to pick his  
> > battles.<
>
> If he were tough on the AIG scamsters, he might actually increase the
> popular base needed to support him in his other "battles." It's not an
> either/or.

And if he's going to "pick his battles," why not pick exercising  
control over a busted institution that his government owns 80% of? So  
far, the bailout consists of Washington writing large checks that will  
allow existing management of insolvent entities to carry on with  
business as usual.

Doug
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