Sun, 29 Mar 2009 15:30:53 +0000 – By Michael GoodwinColumnist, New York Daily News/FOX News Contributor
Get ready to take out the AIGpitchforks again. This time, there is an important use for them.
Now that the hysteria over the $165 million in bonuses is cooling, two inquiries aim to find out what AIG did with the bulk of its federal bailout money. Given the $175 billion at stake, those pitchforks can help dig through the details of who is getting huge chunks of taxpayer cash.
It's a twist on the adage to "follow the money." Finally, probers are following the bigmoney.
Against the billions that have vanished, and with more on the hook as AIG unwinds its trading portfolio, Washington's outrage over the millions paid for bonuses counts as a trivial pursuit. And with the Obamaadministration seeking new powers to take over troubled companies, the handling of AIG is a test case for whether the government can be trusted with that power.
To read Mr. Goodwin's full column click here.