Good Question -- Can Obama Make AIG Cry Uncle?

[David Farber <dave () farber net>]

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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