Thursday, March 19, 2009

AIG symbolic of the need for much more forceful leadership from the President

I think Mr. Axelrod and Mr. Emmanuel need to realize that they're dead wrong if they think the AIG fiasco isn't important to people. Read Josh Marshall today in talkingpointsmemo.com. People want to know that President Obama is in charge, and that he's not going to let Wall Street execs make the decisions when it comes to companies that have been bailed out by the taxpayers. Whatever this takes, in the form of emergency legislation, regulation, or just sheer force of will, is imperative.

AIG is symptomatic of a bigger picture. Americans are willing to be patient, but they are not willing to see people whose quasi-criminal conduct caused this mess be kept around, paid off, or, worse, allowed to continue running the place. The hell with the retention contracts. AIG-FP should be shut down, asap, and all of its execs fired. The same with the hedge fund like operations of all the banks and investment banks involved. We own them, in large part, and it's time President Obama started forcing the decisions.