“But administration officials also worry that taking too hard a line with AIG and other companies could discourage top financial experts and institutions from joining the government efforts to fix the financial system.” — Weisman, Reddy and Pleven, Wall Street Journal
“AIG built this bomb, and it may be the only outfit that really knows how to defuse it.” — Andrew Ross Sorkin, New York Times
So, OK, we’re being held hostage and we have to pay up — give the AIG “brainiacs,” as Sorkin calls them, their unearned, taxpayer-underwritten $165 million in bonuses — or they’ll walk away from the disaster they created and let the whole global financial structure collapse in ruin.
Wow. I whistle in awe at the fiendishness of what can only be called financial terrorism, and as I do so a modest idea pops into my head, in the spirit of Jonathan Swift, of course.