Robert Kuttner: Lifting the Tarp: Will President Obama's Economic Team Lead Him Off a Cliff?
Co-Founder and Co-Editor of The American Prospect
On Sunday morning, the talk shows were dominated by the revelation that AIG -- on the hook to taxpayers for $175 billion -- was paying out bonuses to the very unit in London that caused the catastrophe. The newspaper stories suggested that news of this latest outrage originated with a preemptive leak from the administration. But the outrage over the AIG bonuses is a sideshow. The larger problem, both financially and politically, is the entire strategy for rescuing the banks. Obama needs to get a second opinion.