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Re: Taxing AIG Bonuses: Worse Than Paying Them.
by
Anonymous
I agree this is likely a distraction. It would be preferable to ask Interpol to arrest the "geniuses" who put AIG in this mess and extradite them - although it is unclear if any crimes were committed. If they were, that is the tack to take. If the whole operation was fraudulent and systematic, then it should be prosecuted under RICO (from the broker level to the CDW level), with the requirement that fees be returned at triple damages - with attendant asset seizures. The funds so collected should be applied to the balances of those victimized by mortgage brokers if they were manipulated to move loans.
As to the bill at hand, it is almost a Bill of Attainder - but not quite. It is also almost an ex post facto law - but not quite, since this provision only applies to criminal law - not the tax code.
If taxes on the wealthy need to go up, and they do, then they should across the board - not just for those who work at a bailed out institution.
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