Right on cue the administration seems to be launching a counter offensive against AIG to prevent the payment of those bonuses. As I mentioned this morning the public outcry against AIG was creating a potential political nightmare for Obama. Populist rage against massive payouts to failed companies is already bad enough, but for large amounts […]

If you have ben following the AIG scandal closely you will have noticed that we are now at a crucial moment. One that could cause severe political damage to the White House. For starters here’s the news today from the New York Times: A.I.G. Lists Firms It Paid With Taxpayer Money Let me lay out […]

Apart from the hard core rump of the Republican party and various libertarians, right wingers, and sundry whackos such as neoclassical economists, there is a quiet, but discernible, level of support for further stimulus should it be required. Even Nancy Pelosi, not one of my favorite politicians, agrees that something extra might be needed. Meantime […]