Obama’s AIG Outrage: Patronizing the American People
Let’s face it, no one really likes the financial bailout. I, myself, even chanted “let them fail!” It seemed that collectively we opposed such action until the governement decided “we” will bailout entities it feels are critical to reviving the economy. Thanks?
Lets be honest. Do the Fed and Treasury really think that using our tax dollars to save companies or individuals who made bad decisions is seriously going improve their future decisions or change the direction of this economy?
Take today’s headlines about American International Group (AIG), recipient of $170 billion of our tax dollars, awarding it’s top executives $165 million in bonuses. Just another example of throwing good money after bad.
Why on earth did the Fed and Treasury feel compelled to use our money to save AIG, which faced collapse in Sept. 2008 as a result of it’s involvement in the most speculative element of the financial world? You’d have ask the mastermind behind the AIG bailout, Tim “Turbo Tax” Geithner.
And when AIG’s “top” execs took a $400,000 vacation after receiving the first $85 billion bailout in Sept. 2008, what did Geithner et. al. do to ensure our money was used for more critical business activities? Just reward AIG with more of our money. You’d think with a 80% stake in the company we might have some say.
So when I hear Obama talk about how he’s choked up with anger about AIG’s latest scandal, I say how dare you patronize the American people and send the architect of the AIG bailout to exact our outrage.
No one is buying this change.
Obama's Justice
[...] response to the recent outrage over the AIG “bonusgate” the capital triad consisting of Tim “Turbox Tax” Geithner, Chis Dodd (D-Conn.), and Barney Frank (D-Mass.) were dispatched to show the American people that [...]
[...] everyone is being stirred up and expressing their outrage over the AIG bonusgate I think it’s time to step back and re-evaluate the situation. Namely, the government’s [...]
[...] in yet another show of outrage resulting from corporate “greed” epitomized by the AIG bonusgate, the Democrat led [...]
[...] not their money.
[...] I could say this “news” surprised me but unless there are strong indicators that the public is outraged by this or this crisis turns into a successful hostage negotiation, don’t expect to hear much [...]