More on AIG Bonuses

I was railing last week about how stupid and petty the whole AIG bonuses thing was. And although this may be true, my dad pointed out a pretty obvious point this weekend when I asked him why people got so mad over it.

Because people can understand it.

I think this is right. People are frustrated, angry, and confused about the whole economic situation. No one understands it. And further, no one has any confidence our business or political elites understand or know how to fix it either. But the bonuses they understand. They understand roughly 70 people get to split 160 mil for leading their company into failure and taking down the entire world financial system. This explains the outrage.