AIG bonuses should be paid (Obama is punishing AIG for systemic failure created by government)

National Post ^ | 03/17/2009 | Terence Corcoran

[Rockingham]

Evaluate the article on its merits, not simply on the venue of publication.

The scale of the subprime lending problem and resulting financial crisis developed because the pool of money available for lending was replenished through CDO’s backed by credit default swaps issued by AIG. In effect, AIG issued the subprime lenders a credit card so they could keep issuing subprime loans -- and gave large bonuses to the managers who thereby destroyed the company.

[Kansas58]

WHO mandated sub prime mortgages?
WHO invented sub prime mortgages?
WHO took lenders to court for not making enough sub prime mortgages?
Who protested at banks who did not make sub prime mortgages?

ACORN and Obama and Barney Frank and Chris Dodd, Thats WHO!

[Rockingham]

All of that is true. And the subprime folly was expanded to catastrophic proportions by issuing mortgage backed securities, with the purchasers induced by blue chip ratings and credit default swaps from AIG. And the bonuses paid to the architects of that multitrillion dollars disaster were protected due to legislation initiated by Geithener and Obama.