I totally agree. But the media is setting the agenda such that Joe Sixpack is PO'd about AIG bonuses and such. That would be like someone coaching my wife to overlook the $500 strip club charge on my credit card statement but to instead become outraged that I wasted our money by hitting the drive thru on the way home...
You're probably right, Geo. But, my disdain with this is a different perspective.
We gave AIG billions last summer and they spent $500K in S. CA at a resort rewarding their executives, directors, etc. A couple of months later, they spent $100K in the UK on a fancy hunting trip.
They need more money now to stay afloat. And, now, $170MM on retention bonuses. Each time, they said, "It was already planned." And, we forgave it. I think we are tired of forgiving it. Somewhere there wasn't full disclosure either from AIG to our gov't or from our gov't to us.
These are small amounts in the big picture certainly; however, it's the abuse that we are shocked about.
I stated in another thread - can't remember which, that I've been forced to close my business. A friend will close his and another friend will most likely close hers in 90 days. We were fiscally responsible. How do I get a bail out? And, I don't even need that much?
Yesterday, my GF told me, she's closing the end of May. Got an email from my other friend just this morning that he will close and roll under another larger company's umbrella. None of us will be making the money that we worked so hard to make and build great reputations for ourselves and our respective companies. Again, we aren't bitter. Now, we are all playing the juggling game. We are having to shift finances, watch retirements funds dwindle and due to my industry, I can't, CANNOT have derogatory credit - which means, I can't just walk away from an investment because it's upside down. I can if I choose to suck it up and change industries.
But, when will it stop? When will the abuse of money stop to these corporations? It will stop when the American People have had enough and let our gov't at all levels know.
Why not bail out the small business which keep the eocnomy flowing?
I think this mess will worsen over the next 12 months. Hold on to your hats! Or, whatever you have left to hold on to! ;-)