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Good question

Posted by Chris Farrell on Monday, March 16, 2009

Peter Morici is a professor at the Smith School of Business, University of Maryland School. He asks about those AIG bonuses:

So Mr. Geithner, instead of being outraged at AIG's last revelations, perhaps you can explain to all of us why a UAW worker earning $29 dollars an hour must give back wages and benefits to keep their company alive, while the architects of the biggest financial disaster in history get to keep their gold plated contracts.

Mr. Geithner, we are waiting for your answer.

Yes, we're waiting.

Comments (1)

Tom Bishop | Respond
April 14, 2009 9:28 PM

William Black is an associate professor in Economics and Law at the University of Missouri, Kansas City. He took on the Keating Five in the S & L scandal of the 1980s as deputy director of the Federal Savings and Loan Insurance Corp. (See an interview in the April 13th edition of Barron's). Professor Black says that "Geithner has appropriated the language of his critics and of the forthright to support dishonesty. That is what is so appalling -- numbering himself among those who convey tough medicine when he is really pandering to the interests of a select group of banks who are on a first-name basis with Washington politicians."

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