Why do I keep beating the AIG issue

[David Farber <dave () farber net>]

Begin forwarded message:

From: SJ Manning <sjmanning () fymc com>
Date: March 22, 2009 3:13:34 PM EDT
To: dave () farber net
Subject: Re: [IP] Why do I keep beating the IG issue
Reply-To: sjmanning () fymc com

Hello Dave.
For IP if you wish.

I have consumed much of what the "professional" talking heads in and  
out of government have written and voiced on the AIG bonus matter,  
including the embarrassing Congressional hearing.  Entirely too much  
righteous indignation by foxes in the chicken coup.  It is a genuine  
intellectual perversion that the most innocent person involved in the  
hearings might have been the new head of AIG.

I also read everything contributed by the IP constituency.

IP-ers vs. talking heads.   An interesting comparison between  
substance and form, quality and just quantity/volume for the sake of  
new/face/air time.

I am inclined to send a factual outline of what IP-ers wrote and held  
as relevant, to some of the most vociferous talking heads referenced  
herein.  Just to give those talking heads an empirical yardstick on  
their relevance.

Thanks.

Steve.

David Farber wrote:
> First I think it is critical to the economic health of the nation  
> that we understand how the financial operation (racket) works. Enron  
> and Worldcom and others should have educated us but , as most things  
> in the USA, it faded with tomorrows headlines. A major cause of the  
> Enron mess was the bonus system which rewarded deal making -- be it  
> bad or good in the long run. I have no objections to bonuses based  
> on real performance over the lifetime of the effort -- after all  
> that is what stock options are intended to do.  I do personally  
> object to the take the bonus and run mentality that leave others -- 
> like the tax payers to pick up the pieces.
>
> The IP list seems to reflect the whole spectrum of the public  
> emotions but better articulated that most of the press.
>
> Dave
>
>
>
>
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sjmanning () fymc com
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