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Ritual suicide: a chance for the political class to show real leadership!

March 17, 2009

Senator Grassley is upset with the AIG executives:

"I suggest, you know, obviously, maybe they ought to be removed," Grassley said. "But I would suggest the first thing that would make me feel a little bit better toward them if they'd follow the Japanese example and come before the American people and take that deep bow and say, I'm sorry, and then either do one of two things: resign or go commit suicide.

Fine. This is a wonderful opportunity for all of the politicians upset with the AIG bonuses to lead by example.

The hari-kari line can start with those who voted to provide the federal funds to pay the bonuses.

Next up will be the politicians like Barney Frank,who pumped up the real-estate bubble by sheltering the corrupt and wasteful Fannie Mae and Freddie Mac while sleeping with one of their high-ranking executives. Or Chris Dodd, who ran interference for the government sponsored mortgage disasters while getting sweetheart financing from Countrywide Mortgage.

Then the politicians with secondary roles in the real estate bubble can take their final bows. Everyone who has supported the real estate bubble with housing subsidies through the tax code, step on up!

But why stop there? Every politician who has had a major role in making the tax law the mess that it is can set a bold example of humility and show the AIG guys how it's done. Maybe somebody who has been either chairman or minority leader on the Senate taxwriting committee for 20-some years is ready to step forward.

More here. And here. And here.

UPDATE: Actually, Senator Grassley has been looking to Japan for CEO-bashing guidance for some time now.

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