After sinking our money into companies like AIG to keep them afloat and the credit markets operating, how dumb is it of the President and Senators like Dodd to attack the AIG bonuses to those key employees who we need to bring the company back into the red again? From the WaPo:
Politicians and the public spent yesterday demanding that AIG rescind payouts that they said rewarded recklessness and greed at a company being bailed out with $170 billion in taxpayer funds. But company officials contend that the uproar is scaring away the very employees who understand AIG Financial Products' complex trades and who are trying to dismantle the division before it further endangers the world's economy.
"It's going to blow up," said a senior Financial Products manager, who spoke on condition of anonymity because he was not authorized to speak for the company. "I have a horrible, horrible, horrible feeling that this is going to end badly."
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