More on The Real Outrage About AIG

The Real AIG Outrage
http://online.wsj.com/article/SB123725551430050865.html#mod=djemEditorialPage

The five-month-old secrecy concerning who the actual recipients are of aid to AIG is starting to lift.

The money thrown down a rat-hole isn't even for American rats ( we know so far about Societe General, Barclays Bank, and Deutschesbank ).

The Congressional outrage over AIG bonuses deflects attention from the greater outrage: that governmental agencies at the Federal level, and such paragons of state virtue as Eliott Spitzer, also contributed to this disaster by forcing out the one CEO who both created AIG, knew where and what all the pieces were, and would probably never have allowed the Financial Products group to run so wild as it did. It's actually not the fecklessness of the private sector alone but the intercession of government bureaucrats and publicity-seeking pols that created this disaster,which continues as we write.

Considering the primary troika that permitted this ( always in addition to the SEC and the Congressional oversight committees and their interference), Bernanke is still present( although one could sense his reluctance at the time of Paulson's presentations to Congress ) and Geithner can contribute his foolishness in even a more powerful role as Treasury Secretary.