With news of AIG giving out $165 million in bonuses comes the fauxrage from the White House, Congress, and even populist crusaders. How dare the company do something it wasn’t prohibited from doing in a mad dash to bail it out? Barney Frank is outraged! Outraged, I tell ‘ya!
“These people may have a right to their bonuses, they don’t have a right to their jobs forever,” Mr. Frank said, charging that the bonuses amounted to rewards for incompetence. And he added: “These bonuses are going to people who screwed this up enormously.”
Uh, this coming from a Congress that refused to give up its automatic pay raises in the Senate and wouldn’t even consider such a move in the House? The same Congress that spends over $700 billion and doesn’t even read the legislation appropriating it? Spare me the sudden outrage over corporate bonuses.
More: Hot Air.
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