AIG and the Bogus Bonus Debate


When it comes to the media, I must give the devil his due. The AIG bonus debacle is just another example of the mindless American public falling victim the media hysteria machine. Our government decides to bailout a giant corporation with taxpayer dollars and at the same time tell them what they can't do with the money. Let's think about this: If I borrow $1,000 from a friend to help get my out of credit card debt, then it makes no sense for my Friend to give me the money and then tell me not to pay the credit card company. If my friend objects then they shouldn't give me the money. When the bailout was approved, what obligations did the feds think AIG had? Financial institutions are on the hook half the time to other financial institutions. My problem with the bailout is our federal government who allow the same circus performers on our financial services committee to bungle once again. This is solely where the public anger should be focused.

Chris Dodd, managed to tell two different stories in twenty four hours. Dodd lied to the media about his knowledge of the bonus provision-in spite of the fact it was called the "Dodd Amendment". The next day he admitted he did know but blamed his re-writing of the language in the bill which allowed the bonuses on the Obama Administration....with friends like these.

The fake outrage of the public is pathetic. Their same government just spent billions on everything from global warming research to saving a rare mouse in California with no outrage from the populous. This exposes the "white collar" bigotry that exist in America. Bailing out auto workers who in their own right have raped the system in the form or excessive union benefits and overtime seems to be OK. Wall Street which does have people who aren't making millions in its ranks invokes the wrath of Satan. This is the reason why billions of dollars spent on Obama's union water carriers went unnoticed and a relatively paltry $165 million almost causes riots- it's who get the money that people really care about. What's more comical is to listen to outrage from those who pay no taxes. Let's continue to focus on this none sense while Obama seizes control of our economy, education system and starts more trade wars with our biggest trading partners. This anti-capitalist tone was set by the president early on while he was cleverly preaching unity. In this case also, I must give the devil his due.

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