rucusincruc
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Registered: 12/29/08
Posts: 40
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| | 03/17/09 at 03:57 PM | Reply with quote | #1 |
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Okay, so for the majority of the day the focus has been the outrage from the House and Senate over the bonuses AIG has paid their execs out of the bailout money. Barney Frank wants to hold a hearing, Iowa Senator Charles Grassley wants the AIG execs to "commit suicide", these among other comments made by top officials.
The deal, in case you have been under a rock today, is this; AIG paid bonuses of $1 million or more to 73 employees, including 11 who no longer work for the company. This of course paid out of the $85 BILLION bailout they received from the U.S Government, courtesy of US, the American taxpayers. Apparently contracts written in March 2008 guaranteed employees 100 percent of their 2007 pay for 2008, regardless of their performance.
Now, Obama and other top Lawmakers are blasting AIG for their reckless and greedy spending. Stop there PLEASE! Wait, rewind, back the truck up! Shouldn't WE be blasting the Government for THEIR reckless and greedy spending for even giving this money to these ill performing executives? Further, shouldn't WE be blasting the Government for not regulating our tax money that the Government virtually took from us against our will to bail out these improperly run businesses? Shouldn't we? Isn't this a classic case of shift the blame? Shouldn't the Government have been more responsible when handing out our future to these incompetent dweebs? The Government doesn't care at all about YOU and I. Cry on someone else's shoulder already! How can a corrupt Government possibly be competent enough to save us from this recession and from corrupt business practices? I wouldn't expect or demand the Government to stop passing the buck, it's never going to happen, but I can't wait for the World to wake up and see with clarity the destruction our own Government is causing us. It's so easy to say it's AIG's fault. Too easy, and even more easy to ruffle the feathers of America and take the focus off of the real problem. Enough already! Enough 2 Trillion ago!
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Rob Smead
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allieewd
Registered: 03/16/09
Posts: 8
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| | 03/18/09 at 07:49 AM | Reply with quote | #2 |
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Well, and here's another issue: Obama knew about the bonuses WAY before he signed the bailout.
From Gateway Pundit, reporting from the AP:
"Cue the outrage. For months, the Obama administration and members of Congress have known that insurance giant AIG was getting ready to pay huge bonuses while living off government bailouts. It wasn't until the money was flowing and news was trickling out to the public that official Washington rose up in anger and vowed to yank the money back.
Why the sudden furor, just weeks after Barack Obama's team paid out $30 billion in additional aid to the company? So far, the administration has been unable to match its actions to Obama's tough rhetoric on executive compensation. And Congress has been unable or unwilling to restrict bonuses for bailout recipients, despite some lawmakers' repeated efforts to do so.
The situation has the White House and Treasury Secretary Timothy Geithner on the defensive. The administration was caught off guard Tuesday trying to explain why Geithner had waited until last Wednesday to call AIG chief executive Edward M. Liddy and demand that the bonus payments be restructured.
Neither Obama nor Geithner learned of the impending bonus payments until last week, senior administration officials told The Associated Press late Tuesday, speaking on condition of anonymity about internal discussions.
Publicly, the White House expressed confidence in Geithner — but still made it clear he was the one responsible for how the matter was handled."
Whack.
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rucusincruc
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kconnerwv
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