Take, for example, this issue of AIG paying out millions ("millions", sound so quaint after bandying about terms like "billions" and "trillions" so much) of dollars in executive bonuses.
True to political form, politicians -- especially Democrats -- are acting all outraged and verklempt that such a thing could actually happen. Never mind the fact that they wrote provisions into their bailout bills that allowed an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009.”
Look, I'm not here to defend AIG. They should be out of business as far as I'm concerned. I'm just saying that when people voted for change, I'm pretty sure they had in mind a climate where companies like AIG weren't being enabled by politicians like Pres. Obama, Sen. Max Baucus and Sen. Christopher Dodd.
And they are enablers. Let's face it, you don't have to be an economist (whatever the hell that is) to know that when you pump a brajillion dollars out of a firehose into the economy with virtually no oversight, you're just creating a breeding ground for backbiters and syndicators.
And you people who thought we were getting change, as I've been saying all along, should have known better. A comment from Sen. Dodd is particularly telling.
We have a right to tax."We have a right to tax." This is the Senator's solution. Put billions of dollars into a failed business (from which, btw, you are the single largest receiver of campaign donations) and then tax that money right back. Lather, rinse, repeat.-- Sen. Christopher Dodd, D-Connecticut
I feel like I'm taking crazy pills.
tagged: AIG, bonuses, The Hives, Obama, Dodd, economy, bailout