Mob Rule Taxes AIG Bonuses at 90% – Diverts Attention From Real Issues
Another scary day for America. Congress continues to divert attention of their own failures by getting in front of a heavily popular movement and clawback the AIG bonuses in the form of a massive tax. If I was a financial whiz at any of these companies I would proceed to give the government the middle finger salute and find someone else to run their business. They being the government. Congress apparently thinks they can run the business better than the people they let stay on board so let Barney, Chris and the rest of the flying monkeys have at it.
All this is, is a damn smokescreen to try and cover up the heinous misallocation of $180 billion by our government to AIG. And did AIG even keep the money? No, they transferred much of the funds back to Goldman, Bank of America, Merrill Lynch, UBS, JPMorgan Chase, Morgan Stanley, Deutsche Bank, Barclays and others beacause our leaders feared a systemic failure could be triggered by AIG’s inability to pay those couterparties all the sophisticated instruments AIG had sold.
L.A. Times reports:
Since the bailout for AIG was authorized in September, the once-successful insurance giant has passed along about 30% of the $170 billion it received from taxpayers to Goldman, Deutsche Bank, Merrill Lynch and other entities, including municipalities.
Taxpayers will never see a dime of that money that went overseas. You get that right?
Former House Speaker Newt Gingrich wrote in an e-mail letter to conservatives Wednesday morning:
“The real outrage over the AIG bailout isn’t executive bonuses, it’s that billions in taxpayer funds intended for AIG have been passed through to benefit foreign banks and Wall Street behemoths like Goldman Sachs.”
But, you know, let’s take our eye off the ball and play around with something that even the idiots in Washington understand…bonuses.
Barney Franks and Chris Dodd are stirring the bonus flap to divert the attention away from the fact that it was their fault in the first place that these people would receive their bonuses.
Senate Banking committee Chairman Christopher Dodd told CNN’s Dana Bash and Wolf Blitzer on Wednesday that he was responsible for adding the bonus loophole into the stimulus package that permitted AIG and other companies that received bailout funds to pay bonuses.
On Tuesday, Dodd denied to CNN that he had anything to do with the adding of that provision.
Hotair is calling for Dodd’s resignation over lying to the American people:
In other words, Dodd lied. He spent a full day lying to the American people, and now he’s trying to shift blame to others. He and his pal Barney Frank want to publicly name the people who received the bonuses authorized by Congress and this administration in an attempt to deflect blame for their own actions.
If Dodd had a shred of honor, he’d resign. If he had a shred of honor, though, we wouldn’t be in this mess.
Oh, and I was interested to find out that the top 2 recipients of campaign contributions from AIG was to none other than Christopher Dodd and Barack Obama, collecting $103,900 and $104,332, respectively. Shouldn’t we be asking for that back based on the faux outrage demostrated by our leaders today in Washington over bonuses?
Please, can we please, have people with half a brain vote and get these idiots out of Congress? What are you people in California, Massachusetts and Connecticut thinking? Seriously.
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