AIG and the Displacement of Anger

Here's what everyone seems to be missing about the outrage over AIG's bonuses:

1. This wouldn't be an issue in the first place if the TARP bill had a simple clause: "This money cannot be used for executive bonus pay." So the blame and outrage should be directed on the legislators who failed to include such a clause. In fact, the truth is even uglier: The stimulus bill that Congress passed (without reading) and Obama signed had a provision that legally protected these bonuses. For the government to get pissed over something they said was OK and signed into law is the height of incompetence.

2. Do you realize that if the $165 million in bonuses had been equally distributed to all of AIG's employees, there wouldn't be this outrage? Ironically, people would be happier if the money went to everyone -- even if they did nothing to earn that bonus.

Of course, none of this would even matter if Bush and Congress didn't meddle and pour billions of dollars into a short-sighted and poorly structured bailout.