Even though AIG wasn't legally prohibited from doling out the bonuses, their demonstrable foolishness is indicative of a wanton greed, a willful ignorance and pure disrespect for the taxpayer. I'm not sure what Congress or the Executive Branch can do regarding the bailout bonus money, but given the populist sentiment in America right now, I applaud their efforts. Follow Andrew Cuomo and Max Baucus to know what New York state and the Senate have in mind.
Dana Milbank notes that the bully-pulpit isn't enough for Obama on this issue. So it's no surprise that Obama's poll approval numbers are finally starting to drop.
Tuesday, March 17, 2009
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Pres. “O” had better STEP UP and INSIST that this madness STOPS NOW. There has to be “an understanding” of ZERO tolerance for mucking with "The People’s" money. Put it IN WRITING and get the signatures of all propsective grantees BEFORE one penny of future bail-outs are given.
On a related note:
It’s becoming more clear to me that darn near everybody who was touted, by the media, as “geniuses of Wall Street” aren’t “geniuses” at all. They’re mostly Crooks who APPEARED to be financial “geniuses” and “wizards” because they were all STEALING, LYING and watching each other’s back! They were all in on the same scam, running the same game_ "Screw The People."
Consider Madoff:
I’ve heard it said time-and-time-again that most “Ponzi Schemes” tend to be short-lived. If indeed that is the case(?) then how was it that Madoff was able to run his ponzi scheme_with the help of Chase Manhattan Bank who paid NO ATTENTION to BILLIONS of $$$ deposited by Madoff _for almost TWENTY years????
Madoff was able to keep the game going because he was CONNECTED to Wall Street. And had Wall Street not collapsed, under the weight of its own GREED and arrogance, he’d still be successfully running it.
Hank Paulson (Former U.S. Sec. of Treasure):
Touted as a Wall Street “genius” this former Goldman Sachs CEO turned out to be a DISASTER when Wall Street collapsed. With the spot-light on him, Paulson was barely functional, except to say...“Wall Street needs a lot of tax-payer money and it needs it NOW!”
And Tim Geitner (present U.S. Sec of Treasure)
I continue to have concerns about Geitner’s “readiness” as the Sec. of Treasure. As the former New York Fed President, Geitner was also touted as an ‘expert” and “financial wizard” of Wall Street.
Well, I’m not seeing OR hearing any such “expertise” coming from Tim. Most of the time, he’s got a “deer-in-the-head-lights” look_and his press conferences leave A LOT to be considered.
Meanwhile. AIG executives are literally STEALING from Us in broad daylight and giving Us the finger while counting OUR money and laughing.
My question: WHO is really to blame for this so-called “loophole” in the bail-out contract?
Okay I just heard the President say:
"Ultimately I'm responsible. The buck stops with me."
Keep saying it Mr. President. SAY IT LOUDLY!
And then get to work on steps to ensure that this crap STOPS, effective immediately.
Word to Sen. Dodd: Hope you didn't LIE about being the one who deleted a particular "provision" prohibiting AIG from paying out said bonuses???_especially when you were the one who INCLUDED that particular provision in the first place!
So Sen Chis Dodd IS responsible for the "loophole" afterall_smh.
...can't say that I'm surprised.
Excluding the President, the Dems are d*mn near as Corrupt as the Repubs.
Geithner apparently knew about this beforehand.
I'm more than disgusted. If I have a bad hair day or if I look at someone wrong...or say the wrong thing at work... i'm out on my ass... I lose my little BS job. Hell, i've already lost a raise because of the economy.
And these execs are getting hundreds of thousands in bonuses...for failure????? A bonus is supposed to be a reward for some sort of achievement...for outstanding performance. Not for failure.
I'm close to losing my job...and becoming homeless...and these a*****s are getting tons of money from the taxpayers? It's insane.
Of course the Republicans are jumping all over this. They are trying to blame Obama (part of the anti-Obama PR campaign...of which Obama will lose because Progressives don't have a voice...and partly because he has turned his back on Progressives). But they ignore the fact that it was mostly their President and their greed that got us to this point in the first place. They are counting on the short memory of Americans.
But Obama isn't blameless. I have been saying for weeks that Geithner was a bad choice. Obama now has to deal with the negative media attention from this dust-up. And I believe the story about the loophole regarding bonuses was actually reported a few weeks ago... I remember reading it myself.. but it went under the radar of most of the big networks.
But this is why Obama should have steered clear of appointing someone who could be tied to this mess. He should have cleaned house and brought in fresh faces. But he was too busy doing his Abraham Lincoln impersonation that he couldn't think straight. Or perhaps he's just that gullible. I don't know anymore. Obama is so hit and miss...so inconsistent. I get dizzy trying to keep up.
But now he will have to stand up and take his lumps from the media... because he made his own bed on this one. It's hard to defend him when we are talking about a Treasury appointment that should have never been made in the first place... FOR THIS VERY REASON.
I have a feeling that Lawrence Summers and Robert Reuben had something to do with Geithner getting that post... Obama is getting horrible advice from some of his advisers.
The Dems have also set themselves up for yet another massive caving. lol
Every time they try to stand up against some injustice...they always go in half-a**ed and end up caving. Happens every time. The Democrats have never stood up and held their ground for any significant cause since they gained control of Congress. They have not been able to maintain any solidarity. They always cave. And there's a good chance that they will cave on legislation to get that bonus money back from AIG.
AI:
"But Obama isn't blameless. I have been saying for weeks that Geithner was a bad choice. Obama now has to deal with the negative media attention from this dust-up."
I absolutely AGREE. Geithner is looking like a potentially very bad choice.
"And I believe the story about the loophole regarding bonuses was actually reported a few weeks ago...I remember reading it myself.. but it went under the radar of most of the big networks."
Now THAT'S interesting!
"But this is why Obama should have steered clear of appointing someone who could be tied to this mess. He should have cleaned house and brought in fresh faces."
Yeah, well the President is probably gonna have NO choice but to "Clean house" and bring in "new faces" _and the sooner the better IF he's truly "Serious" about getting on with the business of Effectively governing and addressing "The People's" concerns.
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