If you haven’t been in a K hole for the best couple days, you probably have heard about the AIG bonus scandal. There has been considerable outrage and rightly so. It is kinda funny though to see. I remember about a month ago, as Glenn Greenwald has noted, Republicans fought hard to make sure there were no bonus restrictions in the stimulus bill. The Obama Treasury fought to water down the restrictions proposed as well. Both parties are now among the most vocal critics of the bonuses.

But what actually angers me more than this hyprocrisy, are those “serious” observers in the media that are so insulated from populist rage that they actually are arguing that the bonuses are justified. Andrew Ross Sorkin wrote in the New York Times that not giving out the bonuses would end up hurting that taxpayers. He argues the “brainiacs” (his words) that literally destroyed the largest insurance company in the world, (the company who’s slogan was “the strength to be there”), those geniuses need to be there to:

So as unpalatable as it seems, taxpayers need to keep some of these brainiacs in their seats, if only to prevent them from turning against the company. In the end, we may actually be better off if they can figure out how to unwind these tricky investments.

Furthermore:

A.I.G. employees concocted complex derivatives that then wormed their way through the global financial system. If they leave — the buzz on Wall Street is that some have, and more are ready to — they might simply turn around and trade against A.I.G.’s book. Why not? They know how bad it is. They built it.

God, I don’t even know where to begin. These guys are not “braniacs”. They have no special powers. So take the first claim. Its bullshit. If they actually new the value of the bullshit derivates they created, the company wouldn’t have failed. The whole problem with AIG is that they DIDN’T know what they were insuring. That’s why they insured worthless shit. They failed at their jobs. They were proven INCOMPETENT. And I’m sorry but if these guys are getting millions up front anyway, what incentive do they have to help AIG? Oh that’s right, it was reported that 11 of the top 46 bonus recipients already left the company.

What this scandal really shows is human nature and the consequences of not fully nationalizing AIG.

Actually lets give an example:

Suppose my grandmother dies and leaves me a $165 million dollars. Now she really wants me to go to college and become a professional; doing something good for society. But she gives me the money up front without any restrictions in writing on what I have to do to get it. What am I likely to do? I would probably just not go to college and not help society.

But if she made going to college dependent on the money, then I would go to college.

So coming back to AIG, if you just hand money over to AIG without actually creating restrictions on what they have to do for it, they will just loot. Why not? There only human.

Which gets back to a main criticism of President Obama. I am sick of his lectures crying “shame on you” to Wall Street. If you really find their behavior despicable do something about it! Shit man all I can do is bitch because I’m NOT the President of the United States. You are! Fully nationalize now!

I watched Obama’s speech the other day. I was actually pleasantly suprised. Most of Obama’s speeches I find to be void of anything actionable… just a bunch of hopeful platitudes.

In this one, though, Obama outlined a plan to revitalize the economy and the country. He talked about investing in healthcare, green energy, and education. And it seemed like he meant it. In many ways, he seemed like the only honest person in the room. It is really refreshing to hear the President of the United States talk about doing things that I actually support. Things that will actually help people and make this country better. Bush was such a fucking awful president. Everything he did made us worse off. Every initiative he created made my future that much more bleak. To hear someone talk rationally about governing is a welcome change

Recently, I feel like the internet sucks. It doesn’t even entertain me anymore. I think I have finished it. I need something else. I never thought I would say this, but I think i miss tv.

I feel like everyone has had their say about this ‘occupation’ of the food court at Kimmel. Well now its my turn I guess. To be honest, I’ve felt kind of torn about this whole thing

On one hand, I love greater student activism…since there isn’t any really at least in America. Shit in Greece, the kids there have practically taken over the country.

But I feel like the demands of the protesters were to diffuse. For one, “Take By NYU!”? When did we ever have NYU under our control? Let’s be real, its a private university; a fucking corporation of academia. Yea they should be more open… but they don’t have to.

What would have been more effective would have been to call for John Sexton’s resignation. I would have been completely on board with that recommendation and it would have been an actionable recommendation instead of ‘greater transparency’. I felt the full wrath of the NYU administration probably more than just about every student at this school in my freshman year. The NYU administration is just an army of middle aged men with beards of varying colors of gray. Morals, compassion, and common sense play no part in their decision-making. And if the administrative apparatus is the representative of John Sexton, then he deserves to leave. Halliurton and Wal-Mart could use his expertise in soul- crushing.

Overall the protest was a success in that it got major press even though it was in the form of major redicule. Oh well. as they say any publicity is good publicity. Although I would hate to be suspended.

Mihir Kelkar, of mihirkelkar.com acclaim, suggested I start a blog because the world needs to hear my unique thoughts and feelings. After procrastinating for a very long time and debating whether to actually participate in a completely self-indulgent masturbatory activity, I have decided masturbatory activities have always been good to me in the past… so why stop now.

So without further ado, welcome to the wild world of yet another self-righteous, smarter than- his- own -good, NYU Junior living in Williamsburg, Brooklyn.