It's true. I don't have a whole lot to say about this, probably because its around 1AM and I'm exhausted, but for some reason, I feel like AIG isn't totally at fault. I mean, their near-failure was a sign that it was a poorly run company to begin with. Why would a bunch of free government (AKA taxpayer) money change that? I don't get mad at the irresponsible; I get mad at the people who give my tax money to the irresponsible.
Also, I was talking to someone who is familiar with the TARP regulations. For anyone who doesn't know anything about TARP, check out the Wiki for it. Anyway, I didn't know this, but apparently one of the requirements is that while new hiring is allowed, companies are only allowed to hire American citizens. These banks hire the smartest grads from the best colleges...many of them happen to be foreign. So basically, TARP banks are being forced into having their hiring pools narrowed down artificially. Meanwhile, banks with no TARP money are free to hire as they please, of course. The TARP banks are at a competitive disadvantage in terms of new employees. Maybe I just don't get it, but I'm pretty sure the way to fix struggling companies is to put them at an advantage, not a disadvantage. I feel like that's logical and would probably work fairly well. But hey, none of that matters so as long as the lawmakers can make it seem like they care about the American worker in order to look better for re-election, right?
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