It’s been awfully quiet around here, although Ben has at least kept the lights on.

In lieu of anything better, I’ll comment on something obvious. I hear the Feds are outraged that AIG is using part of its massive bailout package to pay hefty bonuses to some of its executives.

I agree that outrage is an appropriate reaction, but I think in this case it’s misplaced. My question is this: why did anybody think it was a good idea to give billions of dollars of taxpayers’ money to a corporation that had already demonstrated its inability to invest money wisely?