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Originally Posted by dculkin
Not really, and I probably wouldn't have understood his reasons anyway. He said that he found Bernanke to be remarkably open and transparent, which is unusual for a sitting Fed Chairman.The AIG bonus issue is a political issue. While $165 million is nothing to sneeze at, I don't think it affects the Federal Reserve. I don't know why Bernanke should have done anything about them.
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It's true about his openness and transparency.
I think the Federal Reserve should have done something because they were the ones giving AIG the bailout money as I understand it. If they're giving taxpayer money to a company that failed they certainly should be aware of the fact that it's a stupid policy to reward the people who caused it to fail with million dollar bonuses. Even if they were under contractual obligations to pay those bonuses, it would have been better public policy to deny them and have the potential recipients sue them in court to get them rather than just hand them out. How many of those executives would have had the balls to go to court to try to get their bonuses?