I listened to the congressional hearing on the "bonus" hassle at AIG most of the afternoon. I feel this mess is really the fault of the Congress. I make this statement based on the fact that the stimulus bill was rushed and passed without debate by the Congress. They just passed something about which they knew nothing. At the time a sense of "panic" was created to the effect that, if there wasn't quick action not only a "national" but a "worldwide" financial catastrophe could occur.
I wondered at the time how the "tanking" of one insurance company could cause such a worldwide disaster. I feel that the continuing bailout of AIG with billions and billions of taxpayers money, by Congress, has a deeper reason than what appears on the surface or what is being revealed to the public.
The grilling, by Congress today, of the man who was brought in to straighten out AIG, I feel was an attempt by Congress to cover their own inadequacies and a show for public consumption.
Dick Ford
Sebring
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