Obama on AIG and Small Business Loans
No editorial here, except that it was the collapse of AIG that really accellerated the entire stock market fall this past year. And small businesses are suffereing right now from a lack of liquidity, since no one is lending, so the second part of his speech is certainly of importance for say a company like Fanzine, that we be able to take a loan when we need it. Good speech but the ire over the AIG bonuses seems a bit of posthumous spitting in the wind (by the way what is that lozenge Obama is enjoying there? As a fan of nicotine gum, I wonder if it’s packed with more than vitamin C). And I’m not sure how well this cap on executive pay is going to fan out unless the government completely buys out the company. In any case, I’d be happy to run AIG for $500,000 a year (um, ha ha?), but not sure many CEO’s out there actually competing for CEO kind of slots are ready to take such a cut (awe, I know. Poor guys would have to sell a few chalets on that kind of salary).