Based on the large number of writings by Charles Krauthammer, which I have read, I think he would probably be proud to be called a "warmonger." He is usually promoting a war response to a real or imagined enemy of the United States.
However, the Friday, March 20th, 2009 edition of the St. Joseph News-Press, Mr. Krauthammer turns to the economy and ridicules the populist reaction to the $165 million in bonus money handed out to the AIG debt manipulators. The argument he makes is that this is a "rounding error" (1/18,500th of the Federal Budget) and of little significance. Little significance?
The future of capitalism is hanging on a thread and these same executives, who were in charge when their company teetered on failure, take a bonus in addition to their regular salary after their company has received money from the taxpayer. Surely, these same executives understand the perception of harm that these bonuses have caused.
Union members, schoolteachers, and other workers are taking voluntary cuts in salary. Unemployment is rising and tent cities housing the homeless are springing up in many parts of the nation. My guess is that everyone who reads the Sheridan Express knows someone who lives on less than $750 per month. Charles Krauthammer needs to enter the real world of "barefoot" economics.
What the AIG executives have done is poison the well for any real world rescues. One wonders if since AIG has been judged "too big to fail" in the short run if it might be too big to exist in the long run.
I suggest we identify each of the AIG executives publicly and write them a polite letter pointing out the harm the payment of the bonus money has caused. Then, after asking each to return the bonus, solicit their advice on saving our economic system. After all, they are Americans too and should be honored to help.
Once we have dealt with the AIG executives, we can make the same requests of the members of Congress who have accepted campaign donations from AIG and others who are "too big to fail."
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