Audio Clip of the Day, 03-19-09: AIG Bonuses, Taxation and Juries
Posted by Brad Spangler on Mar 19, 2009 in Audio Commentary • 1 commentC4SS Director Brad Spangler: AIG Bonuses, Taxation and Juries [MP3, 1:30]
Podcasters, radio producers and all other media are welcome to replay this clip in its entirety in their productions.
This is flawed reasoning.
What an advocate of free markets must recognize is that the bailout was the problem here, not a company keeping up its contractual obligations.
In fact, the technical expectation of bailout money is, of course, precisely that a company WILL use it to keep its commitments. It will pay its bills…including to its own employees.
In fact, the slippery slope of attacking “golden parachutes” will have a devastating effect on the economy, causing MORE businesses to go under, ones that otherwise could have survived on their own:
http://butnowyouknow.wordpress.com/2009/03/19/banning-aig-style-bonuses-will-cause-more-companies-to-fail/