I am absolutely infuriated…enraged….pissed off…disgusted…there aren’t enough words to describe how I feel about this. I have never witnessed a clearer example of the fox guarding the hen house.
Of course I don’t like the bonuses on my tab…duh. There’s a bigger issue here that is is getting lost in the blind hatred for the evil rich guys.
The actions that the Obama administration and the Democrats in the House and Senate have been taking relating to the AIG bonuses is a story that simply cannot be made up. My god…these people need to be tried as criminals. No, not the AIG guys…the so called “leaders” of this country.
While Obama comes out sooooo mad about the bonuses, he needs to look at his own people to point the blame. The stance that these clowns are taking is blatant bullshit….and they think you are too stupid to figure it out. Let me help…
AIG is contractually obligated to hand out these bonuses… now Chris Dodd and Chuck Schumer want to tax the holy living crap out the bonuses in an effort to appear outraged. Wait a second boys, let’s take a look at some history:
Chris Dodd (D-Conn) knew that such contracts existed while writing amendments to the porkulus bill. His amendment to the Crap Sandwich (now a $787 billion “law”) provides an… “exception for contractually obligated bonuses agreed on before Feb. 11, 2009.” Yeah, seriously, its in the Act. Interesting… but wait, there’s more…
AIG has made donations totaling millions of dollars to Senators and Representatives over the last few years. Guess who is tops on the list of recipients in 2008, to the tune of more than $100,000? Yup…Chris Dodd. You know who’s second, coming in a just a pinch less? Big bad, Barry Obama. Juicy… but wait, there’s more…
AIG has offices all over the world. Guess where AIG Financial is located? Yee-haww…. in Chris Dodd’s home state of Connecticut!
Fannie Mae and Freddie Mac have made donations totaling millions of dollars to Senators and Representatives over the last few years. Guess who is tops on the list of recipients in 2008, to the tune of more than $40,000? Yup…our prez….Barack Obama. You know who’s second? Chris Dodd. Hmmm… but, wait, there’s more…
AIG insured billions of dollars worth of loans and banks involving Fannie and Freddie. AIG Financial traded the derivatives, as they had for years, on loans backed by Fannie and Freddie. Fannie and Freddie exist to back home loans, protecting banks from default. Of course, we all know Frank Raines, the former CEO of Freddie Mac begged Congress to loosen the lending guidelines to accommodate sub-prime borrowers. Wait, you don’t know Frank? Oh, well, he made almost $90 million as the head Freddie in six years. He received nearly $20 million in 2003 alone on overstated earnings akin to the Enron fiasco (by the way, where’s the outrage here?).
Tim Geithner, our trusted, over-worked, under-staffed Treasury Secretary, along with Hank Poulson, crafted the bailout to AIG last fall. AIG disclosed the bonus contracts last fall. There were no restrictions on the money handed to AIG…this was no surprise to the administration. The administration did nothing… until that is, approval ratings began to drop.
Chuck Schumer (D-NY) chimed in and made some threats in a show of “holier than thou” antics. Remember Chucky? The guy who said America doesn’t care about pork. So let me get this straight… 165 million out of 170 billion (less than 0.1%) is outrageous and disgusting… but a 100 billion in pork out of 787 billion (13%) is OK? Chuck, you and your grandstanding are disgusting.
“Quick, we tapped out the hate Rush Limbaugh rhetoric, we need a new target to focus our liberal hate machine. Seriously guys, ratings are dropping, people are waking up! Timmy, stir up the AIG bonus scandal!”
Because the Dems and Obama were billed throughout 2008 as the only people who could possibly fix this mess that they supposedly inherited, I’m left with some questions:
If these guys are so damn smart and they knew these bonuses were there, why didn’t they do something about this when handing out money?
If they’re not so smart, how was such incompetence promoted to the highest offices in the land? After all they’re handing out trillions of our dollars and they should be minding the store.
Could this be a purposeful destruction of American capitalism in an effort to further promote a Socialist agenda?
Answer me that…