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Posted on March 17, 2009 | tags


Biz, Politics: A rare argument in favor of letting AIG keep their bonuses

  • Tearing up contracts could set a bad precedent. Obama and large swaths of the government (and large numbers of taxpayers) don’t like having to pay $165 million in bonuses, but it may just be in their best long-term interest to bite the bullet, argues Andrew Ross Sorkin. “If you think this economy is a mess now,” Sorkin argues, “imagine what it would look like if the business community started to worry that the government would start abrogating contracts left and right.” Oh boy. source