John McCardell, President Emeritus of Middlebury College and head of Choose Responsibility was on Colbert Report Thursday night. As always the man handled himself with pure class and Colbert himself seemed a bit deferential.
Youtube Link to the Interview: http://www.youtube.com/watch?v=NA9Q8W-W_sg
Obviously the AIG Bonuses thing has taken a big share of the financial media as of late.
The truth of the matter is that A.I.G. like the other struggling financial companies shouldn’t be giving out massive amounts of gov’t money as bonuses, but that being said the bonus pay-structure could not be abandoned entirely. If these financial institutions cut all payment there will be a flight of talent from the industry. While these companies need to pay for their indiscretions…major indiscretions, the government needs to walk a careful line and make sure they’re not chasing the intelligent employees of these companies into smaller, private shops. These braniacs may have been the ones who created our current problems, but they’re going to need to be the ones that help us get out of this situation too.