Tuesday, March 17, 2009

High hypocrisy

Everyone's outraged by $165 million in bonuses paid out by AIG to its executives after being bailed out by the government to the tune of $180 billion. Congress is moving quickly to slap on a tax to recoup the money. Obama even feigned some anger, telling Geithner to find a way to block the bonuses.

Bunch of hypocrites.

Just last week, Obama called for the earmark process to be reformed while rushing through a $410 billion spending bill that included $8 billion in earmarks. Apparently, there wasn't time to go line by line through that bill, given the urgency, so the American public just has to suck it up again.

Funny how that works, because one might think that had proper thought been given to the AIG bailout, the company may have been forced to first renegotiate its contracts to exclude costly bonuses, before any money would be handed over. Should we really expect irresponsible companies to behave after being rewarded for almost ruining the entire financial system?

No, I guess only the government behaves like that.

And in any event, I seem to remember a certain individual being thrown an inauguration party that cost $170 million before he had even completed a day of his term.

Shouldn't the highest post in the land set the highest standard? Not so far. Welcome to high hypocrisy.