Tuesday, March 24, 2009

Contract? What Contract?

What happened to contract law in the USA?
"New York Attorney General Andrew Cuomo says 15 employees who received some of the largest bonuses from American International Group have agreed to return more than $30 million US worth of payments."
Land of the fleeced, home of the berated.

"Cuomo said he doesn't plan to release the names of the employees who agreed to return the bonuses, and said there is no implied threat that if an employee doesn't consent to returning the bonus that their name will be released.

Cuomo had sought the names of the employees who received bonuses from Liddy through a subpoena. He said his office is continuing to assess the security of the employees."

Yeah, Riiiiiiiight...


1 comment:

Burgess Laughlin said...

There is a lesson to be learned here: Statists do not respect contracts.

I will be watching closely to see whether US businessmen learn that lesson and refuse to cooperate in the federal scheme to sell off "toxic assets."

Over the years, rightly or wrongly, I have come to have low expectations for businessmen in general. (There are exceptions.)

We will see.