Congress Passes 90% Tax on AIG Bonuses

Congress just passed a 90% tax on AIG’s bonuses. What a joke! They didn’t write the bill correctly the first time, so they just wrote a new bill to get the money back. I think Milton Friedman said that he was glad for government incompetence because it at least made the government less efficient.

By the way, Boots & Coots Well Control (WEL), my favorite low-priced energy stock had a very strong day today. The stock is up 20% in the last week.

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