Bill Kristol sees an opportunity for the GOP in the backlash over the inexcusable AIG bonuses:
But if capitalism is to survive, shouldn’t the Republican party, the party that defends democratic capitalism, be particularly vehement in denouncing its excesses? Isn’t this a pretty spectacular one? And isn’t this a moment for the GOP to separate itself from the Bush administration as well as the Obama administration, who together have been responsible for an incompetent and improvident bailout? Figuring out the right policy going forward with respect to toxic assets and the rest is, of course, a major intellectual task. But being on the side of a healthy populist reaction to the AIG situation is at least a good political start.
Good luck with that:
Senate Minority Whip Jon Kyl (R-AZ) blamed the “tone deaf” bankers for creating the political environment that allows Obama to call for a cap.
“Because of their excesses, very bad things begin to happen, like the United States government telling a company what it can pay its employees. That’s not a good thing in America,” Kyl told the Huffington Post.
“What executives have done is troubling, but it’s equally troubling to have government telling shareholders how much they can pay the executives,” said Sen. Mel Martinez (R-FL).
Sen. James Inhofe (R-OK) said that he is “one of the chief defenders of Obama on the Republican side” for the president’s efforts to reach across the aisle. But, said Inhofe, “as I was listening to him make those statements I thought, is this still America? Do we really tell people how to run [a business], and who to pay and how much to pay?”
Up next, Bill Kristol proposes the GOP get in front of the populist rage over the War in Iraq.