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Good Question -- Can Obama Make AIG Cry Uncle?
From: David Farber <dave () farber net>
Date: Tue, 17 Mar 2009 15:32:16 -0400

Begin forwarded message:

From: " Jacinda  Kelley" <bhockey83 () aol com>
Date: March 17, 2009 12:46:13 PM EDT
Subject: Can Obama Make AIG Cry Uncle?

The Obama Administration says it can't force AIG to not pay bonuses because bonuses are written into the employee contract. But aren't labor unions in Detroit and elsewhere told that if their industries are to survive, their contracts must be renegotiated? Why can't Team Obama likewise tell AIG that a new era requires new contract terms? Other industries as well, are being told to examine their pay structures and make adjustments. They are told to do so, not later, but right now.

Some of the problem is ideology. Although Republicans frequently complain that Obama is dragging America down the road to socialism, in reality, the President does not desire an authoritarian presence is the marketplace. The President believes very much in free enterprise. Democrats in congress are calling for strict measures that could be called anti-business (see http://www.huffingtonpost.com/rep-bernie-sanders/stop-wall-street-loan-sha_b_175023.html and http://online.wsj.com/article/ SB123690181841413405.html and http://www.cnbc.com/id/ 29532023 ). Obama is not at the helm of these harsher measures, nor has he visibly supported them.

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  • Good Question -- Can Obama Make AIG Cry Uncle? David Farber (Mar 17)
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