Wednesday, March 18, 2009

What's He Doing In Austin?

From the New York Times:

To the Editor:

Here’s how the Obama administration should handle the A.I.G. bonus situation: Withhold the bonuses, then challenge the A.I.G. executives to sue. Let’s see how many of them would be willing to stand up in a courtroom, face a judge and a jury, and explain exactly why they deserved all that money.

John Holmes
Austin, Tex., March 16, 2009


New Jovian Thunderbolt said...

what did they do? They voluntarily entered into a binding legal contract with another, voluntary, party?

If the gov't doesn't have to respect binging legal contracts then why do I? I'm gonna stop paying taxes and my mortgage.

Crucis said...

This is all a farce. Geitner is the one who formulated the bailout plan for Citibank AND A.I.G. He knew all about the bonus structure from the beginning.

Now, he's hiding somewhere.

If the government breaks those contracts, ALL contracts are then worthless and can be broken at governmental whim. Like it or not, our entire legal and financial structure is based on the concept of a binding contract. If contracts are no longer binding, everything falls apart.

Contracts are the glue that holds society together.

D.W. Drang said...

I thought John Holmes was dead...

Turk Turon said...

We have a winner!

Yes, THE John Holmes died years ago.