The AIG bonus revolt is political buffoonery.
The Obama administration should have said:
Yes, the bonuses are bad, but they were contractual obligations that were reinforced by my administration and my democrat friends in the House and Senate (link). We’re not changing the rules of civil contracts; that would destroy the confidence in American economic system, which is still quite sound.
This is not time to make political hay. AIG has to pay this round of bonuses. But since the US now owns AIG, we’ll stop this from happening in the future.
Instead, the Obama administration and Congressional democrat fiends friends acted like spoiled children caught with their hands in the cookie jar–excuses, whining, and threats.
That’s not leadership. That’s liberalism.