How has a popular Democratic president with a convincing electoral mandate failed to translate the opportunities of recent events into the "change" for which voters clamored?
Anybody who hasn't been living in a cave knows how bonuses got a bad name: excess and greed in large business. But what those of us in small business, where a bonus is a reward for a job well done?
Tim Geithner's actions throughout his career, including his time as Treasury Secretary, are proof that the toxic thinking that got us into this mess is part of his DNA.
If AIG were to donate the 418 bonuses to charity, it would be a brilliant preemptive PR move to neutralize its current out of touch public persona. Here's what the money could provide.
The indignation over AIG will serve a useful purpose if it focuses public attention on the much larger issue of the failure of the entire approach that Tim Geithner and Larry Summers are using to rescue the banking system.
Rather than allow these bonuses to remain intact or to take them away outright, how about deferring them until the companies and their troubled business units turn their financial fortunes around?
The fascinating thing about this Wall Street greed is that it is so deeply ingrained that neither the bankers themselves nor our economic leadership understands just how disgusting and dangerous it is.
It's admirable that our leaders now want to be frugal with our money but let's remember what the taxpayers themselves have been buying with money not rendered unto Uncle Sam.
Have things changed so dramatically that Obama will have room to dump his biggest campaign contributers overboard? That question will be answered in the coming weeks.
When the key points of the AIG counter-parties list finally sink in to the American population, there is going to be a run on torches and pitchforks at local hardware stores.
By fueling anger over AIG bonuses, Bernanke is playing a very old game. By aiming at AIG, he is distracting public anger from the Federal Reserve. He is protecting his reputation and legacy.
There is an attorney who can get to the bottom of our current financial crisis and lay the blame and guilt at the foot of the culprits. Eliot Spitzer, phone home.
Right now Obama is trying to walk on an incredibly narrow line with no safety net beneath, but this is gut-check time: he has to decide which side he's on.
It's good to hear Obama take responsibility, but after the previous "I screwed up" and a few more "buck stops here," the value of that buck's worth might soon diminish.
What Geithner is doing right now is similar to how a magician works. First he gets your attention on one thing "look, outrageous bonuses at AIG", then he does his trick while you're watching what he wants you to watch.
Amid all the hand-wringing about whether or not the government has the power to stop AIG from paying bonuses to the very people who helped precipitate...
AIG's predicament will be studied for years to come in marketing and communications classes. When the president of the United States starts bad mouthing your brand, it's not going to survive.
Giving out $18 billion in bonuses at a time when ordinary Americans have seen their life savings collapse is outrageous. To give out these bonuses using federal bailout money is over the edge.