Today's Sign that the Inmates Are Running the Asylum

AIG has some people's blood pressure running pretty high, but there are a couple of pretty amazing things being said lately. The first, from President Obama:

Noting that AIG has "received substantial sums" of federal aid from the federal government, Obama said he has asked Treasury Secretary Timothy Geithner "to use that leverage and pursue every legal avenue to block these bonuses and make the American taxpayers whole."

As a lawyer, Obama should know that this is a truly stupid idea. If they don't pay those bonuses that they are contractually obligated to pay, the guys who were to receive them will sue for breach of contract, and then not only will AIG have to pay the bonuses off, but also will have to pay attorney's fees as well... and I guarantee the lawyers for the executives won't be charging $200/hour, try closer to $600/hour. I've written about this elsewhere so I won't expand on it, but c'mon, guys.

The second, and even more ridiculous item, comes courtesy of Iowa Senator Charles Grassley (R), who insinuated that the AIG executives should either quit or commit seppuku. Seriously? Can I have some of what you're smoking?