Thursday, March 19, 2009

Faux "Outrage" Make News Cycles

The markets are stable. The Dow is up 20% off its lows. A massive downward spiral has been averted. Investors have faith again in the market.

Why is there this fake "outrage" against Treasury Secretary Tim Geithner regarding the bonuses at AIG?

The old Secretary Henry Paulson, Fed Chairman Ben Bernanke and the Bush Administration were the ones who crafted the initial bailout. They approved the bonuses. They are the ones you should be outraged at. They are the ones who had the original three-page bailout request for billions with absolutely no oversight back in September.

Tim Geithner has a perception problem, maybe, but he is part of the Obama team that is doing a great job turning this economy around. Are you really mad that he took a day to announce that he knew about the AIG bonuses? Is Geithner now supposed to run to the public and craft a message whenever there is a minor bump in the road? Let him do his job.

It's so amazing that all this "outrage" is now being reported on over trivial matters. Where was the reporting of outrage through the Bush years? Would have been nice back in 2002 and 2003 before we went into war.

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