An Easy Solutions to AIG Bonus Mess - RICO

Normally EGN does not report or opine on matters of national or international interest. But every now and then something so outrageous occurs that comment is warranted.

The AIG bonus controversy is one such matter.

There is a solution so easy that we are surprised no elected leader on either side of the political spectrum, as far as we can tell, has suggested - use of the RICO Act.

The RICO Act (Racketeer Influenced and Corrupt Organizations Act) was passed in 1970 to initially prosecute organized crime syndicates. Since then the government has used it to successfully prosecute everyone from the bond junk dealer Michael Milken in the 1980's to the Gambino crime family more recently.

It would be a pretty simple procedure. The Justice Department could simple raise the specter of a RICO prosecution to the AIG bonus beneficiaries and force an immediate settlement. Basically return the bonus and The People will not proceed.

Most rational people would return the money to avoid prosecution. It becomes a simple matter of economics.

While we certainly do not support witch hunts or unbridled use of government authority, this is a case where the heft of the government could rightfully be used in the name of and for The People.