The AIG Bonus Issue: A Small Proposal

Contracts are contracts. If a contract is breached then the sole remedy is limited to what the contract would have provided if it had been honored.

However, in the case that the US Government owns AIG and in the event that AIG would breach the contract with the London screw-ups who blew a fortune into the stratosphere, then a proposal is to breach the contract and then have the US via AIG claim sovereign immunity! Namely tell the Brits to "go pound sand".

Having dealt with many bankers in London in my l;iftetime, this is my first modest proposal, a rather Swiftian compromise to solve the arrogance of the incompetents. Where are the good lawyers when you really need them. This is Washington, is it not, there are more lawyers in Washington than residents. Can we not find one smart litigator who can spin this to the advantage of the US Taxpayer, now owners of AIG.

This is the problem with having no individual in the Administration who has ever run a business, especially one with a nexus to London bankers. We stiffed them in 1789 so why not do it again. Worst case it comes to trial in the US. Try and find twelve people in the US who would agree to the claimants request! Oh, well, perhaps in San Francisco, but not anywhere in the rest of the United States. Let's hold the trial for breach of contract in the Southern District of New York, remember Bonfire of the Vanities!