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Congress' reaction to AIG bonuses -- am I the only one concerned?
From: David Farber <dave () farber net>
Date: Thu, 19 Mar 2009 17:19:30 -0400
I disagree djf Begin forwarded message: From: Lauren Weinstein <lauren () vortex com> Date: March 19, 2009 2:04:08 PM EDT To: dave () farber netSubject: Congress' reaction to AIG bonuses -- am I the only one concerned?
Dave, I can't be the only person feeling increasingly disturbed by Congress' reaction to the obnoxious AIG bonuses controversy. I believe we all pretty much agree that the bonuses were utterly inappropriate to be contracted when they were ... but the fact is that they *were* contracted, and work was done on the basis of those contracts (much of which is now completed, and the relevant persons departed as planned). We now know it was the Obama Treasury Department that requested the language honoring those bonuses (despite righteous indignation we're hearing now from the administration about the bonuses -- after the story blew up). It's particularly chilling to hear Congress talking about special targeted 90% or 95% taxes to try suck back the bonuses from individuals at this stage of the game. It's completely appropriate to recover the funds from AIG, but retroactively going after the individuals who worked under legal contract terms -- in expectation of being paid under those terms -- seems to me to set a terrible precedent. Emotions are running wild over logic. I'm a big supporter of Obama, but the AIG situation seems to me to have become overly personalized, and now members of Congress are trying to out posture each other with "get tough" reactions, some of which seem to be very poorly thought out (surprise! surprise!) and could do even more damage. Am I alone in thinking that the situation is becoming chaotic, with many of the negative ramifications associated with such chaos? --Lauren-- Lauren Weinstein lauren () vortex com Tel: +1 (818) 225-2800 http://www.pfir.org/lauren Co-Founder, PFIR - People For Internet Responsibility - http://www.pfir.org Co-Founder, NNSquad - Network Neutrality Squad - http://www.nnsquad.org Founder, GCTIP - Global Coalition for Transparent Internet Performance - http://www.gctip.org Founder, PRIVACY Forum - http://www.vortex.com Member, ACM Committee on Computers and Public Policy Lauren's Blog: http://lauren.vortex.com ------------------------------------------- Archives: https://www.listbox.com/member/archive/247/=now RSS Feed: https://www.listbox.com/member/archive/rss/247/ Powered by Listbox: http://www.listbox.com
Current thread:
- Congress' reaction to AIG bonuses -- am I the only one concerned? David Farber (Mar 19)
- <Possible follow-ups>
- Congress' reaction to AIG bonuses -- am I the only one concerned? David Farber (Mar 19)
- Re: Congress' reaction to AIG bonuses -- am I the only one concerned? David Farber (Mar 19)
- Re: Congress' reaction to AIG bonuses -- am I the only one concerned? David Farber (Mar 19)
- Re: Congress' reaction to AIG bonuses -- am I the only one concerned? David Farber (Mar 20)
- Re: Congress' reaction to AIG bonuses -- am I the only one concerned? David Farber (Mar 20)
- Re: Congress' reaction to AIG bonuses -- am I the only one concerned? David Farber (Mar 21)
- Congress' reaction to AIG bonuses -- am I the only one concerned? David Farber (Mar 21)
- Re: Congress' reaction to AIG bonuses -- am I the only one concerned? David Farber (Mar 21)
- Congress' reaction to AIG bonuses -- am I the only one concerned? David Farber (Mar 22)
- Re: Congress' reaction to AIG bonuses -- am I the only one concerned? David Farber (Mar 22)