On the news that AIG CEO Robert Benmosche maybe through a hissey fit about government pay regulations, Felix Salmon deadpans with this unintentionally hilarious post:
The real culprit in this story, however, isn’t Benmosche, who has been something of a known quantity from day one at AIG. Rather, it’s the people at Treasury, who are now zero for two in picking AIG CEOs. Maybe it’s not as easy as they thought.
It’s become clear that the Obama administration is incapable of hiring a largely-independent CEO for AIG and then leaving him to his own devices. So if and when Benmosche leaves, they should probably reconsider the whole job, and how much it’s really worth to them. My guess is that the answer is going to be much less than $10 million.
It’s almost as if… wait for it… central planners aren’t good at running private companies. If they can’t even hire a freakin’ CEO, what can they be expected to do correctly? We suppose it’s possible that the Treasury and the Obama administration is is terrible at hiring an AIG CEO, but good at other things (like setting salaries, running the car companies, etc.) but we highly doubt it.