Is the AIG debacle akin to loaning them the money for a Cadillac but they buy a KIA

[Doc]

Yep, that's about the size of it. People are SO reactionary. They act as though they're surprised. I've been saying for some time now that the government needs to stop treating the symptoms instead of the cause.

Think about this, if you were to go to a bank and ask for a loan, would you not expect to sign a contract? So now you have all of these over paid lawyers in Washington, D.C., whose job it is to write bills that hopefully will be passed into law. Is it too much to expect them to know something about contractual law? What? They "loaned" these guys the money but had no contract as to how the money was to be spent? How stupid is that?

The best Berry can hope for now is to get them for misappropriation... Still, I doubt that either he or Nancy are that bright.

 

[Jesus_Is_My_Gardner]

instead and blow the rest?
at the very least this seems unethical

 

[BigRichGuy]

Not exactly. It's more akin to a government entity messing with something it has no authority to mess with and then trying to dictate to that something a bunch more stuff it has no business dictating on the basis of having messed with it prior.

 

[Common]

First off, to the other posters blaming this on Obama, they need to check their facts. The AIG money was received by the BUSH bailout. It was Bush that failed to place limits on the cash, not Obama. Bag on Obama if you want, but get it right.

Second, I see this more as giving them the money to buy a cadillac, but they only use a portion to put a down payment on a Lexus then they use the rest on cocaine and strippers. When the note on the Lexus comes due, they come back and say they need more.