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AIG Bonuses: Why Those Pesky Contracts Can't Be Ignored
By Joann M. Weiner - Politics DailyThe United States is a country that follows the rule of law. And it does so even if that means paying employees of AIG, the failed insurance company whose actions nearly caused a global economic collapse last year, millions of dollars in bonuses. U.S. taxpayers have paid more than $180 billion to rescue the insurance giant. Yet, despite owning nearly 80 percent of the company, taxpayers are not allowed to break AIG's existing contracts just because they don't like the terms or because they had nothing to do with writing them. To understand why, consider two types of contracts that AIG is ...
Tainted Burgers: Plenty to Chew On
By Joann M. Weiner - Politics DailyHow should the government react to evidence that it is not properly protecting its citizens against outbreaks of E. coli? To start, the U.S. may wish to review how the United Kingdom responded to an outbreak of mad cow disease (bovine spongiform encephalophy, or BSE) more than a decade ago. ...
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