Barry Bounced

clipped from www.newmajority.com Maybe an analogy helps. Suppose we discovered that during the tense days of September and October 2008, executives at the big banks were ordering lavished catered dinners for themselves at their offices. We’d all disapprove. Those executives should have been eating sandwiches at their desks! But would it be OK for the government to order the banks to refuse the invoices from the catering company? The service was contracted by the people who had the legal authority to make the contract. The contract must be paid, unless the company goes into bankruptcy - at which point all creditors would have to be treated equally, without the government picking and choosing its favorites to be paid first. What’s happening with these executive contracts is the equivalent of bouncing the bills from some disfavored suppliers. It’s lawless and it’s wrong. And the consequences of this wrong action will reverberate through a whole economy.