Posted by
Brandon O'Neal Wright on Wednesday, March 18, 2009 12:15:53 AM
By now I am sure that you have heard or read about the outrage that AIG has caused over their 165 million dollars worth of bonuses to company executives. The outrage is real and warranted, but a fundamental look at the situation will take you to an all too common conclusion. AIG, the world's leading international insurance agency, is stationed and operable in over 130 countries and jurisdictions. The federal government, currently led by Barack Obama and the Pelosi Democrats, decided that a failing AIG needed 85 billion dollars of taxpayer money to ensure the insurance giant did not go under. The only problem, aside from the government intervening in the private sector, was that AIG was not required to explain how the money would be spent or how they planned to make their company more competitive and profitable. Because of this lack of foresight, the federal government is not mighty angry over all of the bonus money that AIG is shelling out to its "top" employees. Examples like this are precisely why the federal government should stay out of the private sector. If a company is mismanaged or fails to meet customers needs and desires, they should be allowed to fail, no matter how big they are. Some lessons in life are learned the hard way and some never seem to be learned at all. Failing businesses learn the hard way when they fail. The must either reorganize and plan for success or go under. Unfortunately, the American people have failed to learn that just about everything the federal government puts their hands on turns into incompetence. Just look at the line at the DMV, the mess that social security is in, and now how they have misunderstood and are now mismanaging the private sector. The American people will someday learn that the federal government does not deserve a seat at the table which is the private sector. Unfortunately, by the time we do, there may not be any food left on the table.