Follow the Bonuses

I am greatly heartened to see all the moral outrage that the AIG bonuses are bringing out in our politicians. We have House Majority Leader Steny Hoyer, D-Md., wanting to shame AIG executives into giving up their bonuses (I presume by making them wear the letters AIG in scarlet on their clothing); there is Rep. Carolyn Maloney, D-NY, suggesting that the bonuses be taxed at 100 percent; and then there is Sen. Chuck Grassley, R-Iowa, "rhetorically" asking why AIG executives don't do the honorable thing and commit hari kari.

I presume that we'll soon be asking the French government to lend us a few guillotines.

Of course, while our politicians are at it, I assume that they will each also be taking a deep, reflective look into their personal roles in creating our current financial mess. I am anxiously waiting for every one of our politicians to announce that he or she will only be taking $1 in annual salary until the crisis is completely over.

I also am waiting with baited breath for those government bailout overseers who didn't ask AIG about the said bonuses to say that they will not be taking any bonuses themselves this year as well. And I also will be assuming that other government regulators will be not only declining their bonuses for FY 2009, but also be voluntarily paying back their bonuses for FY 2008 for missing the rampaging financial elephant in the room.

In fact, I will also be assuming that annual performance bonuses will be voluntarily declined by folks in government - and those who work as contractors to government - this year whenever their projects don't meet their technical performance targets or have cost or schedule overruns.

And if this doesn't happen voluntarily, maybe we taxpayers can claw our money back by taxing those bonuses 100% - or ask those who receive them to do the honorable thing as Grassley suggests.

After all, what is fair is fair.