I think that, Eric Massa‘s vocal support of the bill notwithstanding, the idea of taxing the bonus money from AIG is remarkably bad policy on any number of levels. But the suggestion that “risk-averse” companies might not take part in bailout efforts because of the punitive measures such as these is fatuous on the face of it.
I thought that the reason we needed to pass the initial bailout bill was because the only other alternative was the collapse of banks across the country and a collapse of our economy along with them? If that’s the case, what alternative do companies have besides participating in the bailout efforts, other than collapse? I’m thinking that if the answer is anything other than collapse, they probably shouldn’t be stepping up to suck the teet of Washington, should they?
Hard to know which bullshit coming out of Wall Street is the correct bullshit to listen to. My vote would be not to listen to any of it.