Thursday, March 19, 2009

AIG bonuses

Powerline's John Hinderaker on the AIG bonuses.  Among other things:
There is no legal principle that would justify not paying these bonuses. If you make an offer to someone along the lines of, if you do X I will pay you Y dollars, and he does X, it's too late to change your mind. You're on the hook for Y dollars, and you should be.
Until Congress establishes a precedent that maybe you're not.
Is that a precedent Congress wants to establish?

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