Andrew Cuomo Wins Today
The current headline on NYTimes.com is: "$50m in AIG Bonuses to be Repaid".
While Congress fulminated, Andrew Cuomo, NY's Attorney-General methodically obtained the names and gains of the AIG bonus-babies.
When the CEO, Edward Liddy, asked the bonus babies to return 50% voluntarily, Cuomo said it wasn't good enough.
Now comes news that 9 of the top 10 bonuses (and 15 of the top 20) have been voluntarily returned in full.
It's difficult to over-state the importance of that headline to Obama Administration, which seeks to turn the page from the bonuses to rescuing the banks. My guess is, Cuomo's quick action will have earned him some serious chits from the president.
But what of the jerks who have so far refused to cough-up their ill-gotten gains? I assume they're mostly foreign, and therefore don't believe that they have any obligation to American tax-payers.
So how about this: Let's ban each and every one of them from entering the country until they return the money, with interest. No Broadway shows, no vacations in Miami, and definitely no jobs requiring travel to the US. My guess is, the money comes back quickly and quietly.
While Congress fulminated, Andrew Cuomo, NY's Attorney-General methodically obtained the names and gains of the AIG bonus-babies.
When the CEO, Edward Liddy, asked the bonus babies to return 50% voluntarily, Cuomo said it wasn't good enough.
Now comes news that 9 of the top 10 bonuses (and 15 of the top 20) have been voluntarily returned in full.
It's difficult to over-state the importance of that headline to Obama Administration, which seeks to turn the page from the bonuses to rescuing the banks. My guess is, Cuomo's quick action will have earned him some serious chits from the president.
But what of the jerks who have so far refused to cough-up their ill-gotten gains? I assume they're mostly foreign, and therefore don't believe that they have any obligation to American tax-payers.
So how about this: Let's ban each and every one of them from entering the country until they return the money, with interest. No Broadway shows, no vacations in Miami, and definitely no jobs requiring travel to the US. My guess is, the money comes back quickly and quietly.
posted by Moses Kagan at
6:58 PM
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