It's easy to get outraged at the announcement that AIG will be paying over one hundred and fifty million dollars out as bonuses, after taxpayers have pumped over one hundred and fifty billion dollars into the failing company. But the populist outrage this has sparked off needs to get a little more focused. Because we're about to get lost in a thicket of legalese about "compensation" and "bonuses" and "deferred stock options" and all the rest of it, which only serves to detract from a very basic truth -- which should be the real point of discussion here. This truth is that whatever you call it, and whatever little box it gets entered into on the tax forms, these people make an obscene amount of money. And nobody is even saying (because nobody in the media is even asking) exactly how much money they make. This should be the real target here, because it has much broader implications. Also, because it is a lot easier to fix than just getting back some bonuses.

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Representative Bruce Braley recently announced the formation of a new congressional caucus dedicated to the economic concerns of the middle class. The Iowa Democrat (as reported in The Huffington Post) unveiled the new Populist Caucus last month, and as its chair immediately set to work addressing their concerns in the stimulus package in the House. But since the term "populism" has been used for a variety of movements throughout American history, I thought I'd ask Representative Braley himself what the caucus is all about, and what they're trying to achieve. The interview below is a transcript of our conversation.

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