The AIG bailout/tax issue is all over the blogosphere. My take on it is pretty straightforward.
1. There should have been no bailout. I have been, and am now, against all government bailouts of private industry.
2. I oppose punitive retroactive taxation to fix government mistakes made when bailing out companies that should never have been bailed out in the first place. That sort of tax sets a terrible precedent that will almost certainly lead to abuses in the future. If you must hand taxpayer money to failing, mismanaged companies, do so with strict guidelines on how they can use it. Otherwise, expect them to misuse the funds and live with it.