You are right on. Now they are talking re- writing tax laws and changing laws, because someone in the administration screwed up. So much CYA being played out center stage. I'm am blown away by the straight up, in our face corruption. Our government needs to just gracefully back the hell up and get out of the business of trying to take over everything...
Clearly the Constitution and rule of law no longer apply. Chicago thuggery politics is the new game.
If I was Ed Liddy, I'd tell every one of those sanctimonious a-holes in Congress to pound sand. THEY created this problem and they have the audacity to sit there all high and mighty throwing stones at him???
What's really appalling is the ease with which they LIE.
Some people are speculating that this whole AIG thing is a smokescreen to keep taxpayers from finding out that Congress allocated $62 BILLION American Taxpayer funds to bail out banks in France, Germany and the UK.
Wow. That's a new one on me, KG. I'll definitely need to dig deeper into that. Thanks for the head's up.
Didn't the government provide bailout funds to AIG? Shouldn't AIG work to pay off the government loan? What kind of strings should be attached to the bailout plan?
I'm against the bailout, on the basis that it doesn't support capitalist ideals. But now that the government has stepped in, shouldn't they have a say on how the companies distribute their wealth?
I think the whole thing is a bad idea. I don't believe that bonuses should be paid, because the whole company should have gone belly-up for a business philosophy that was doomed from the start (i.e. the "mortgage crisis" scenario). However, I agree that the government shouldn't be interfering with business.
The question is, how much should government interfere in order to keep social order, in the face of a real breakdown due to a crappy economy.
I think we're afraid of the phoenix that will rise from the ashes.
And with good reason, history has shown that a lot of blood has been spilled in such Rebirths.
If the government did not want the bonuses given out it should have been part of the agreement prier to the money being lent. Congress did not read the trillion dollar package before rushing to sign this hideous bill. The people in congress at a minimum should know the constitution, so they are either too stupid to understand the constitution or worse they don't care what the constitution says, and I believe it is the latter.
Yeah, I can't bring myself to get mad at AIG over this one. They're simply trying to fulfill their commitments--isn't that what the bailout was for, to enable them to do so? (Putting aside whether there should've been a bailout at all.)
If not paying bonuses had been part of the deal prior to handing out the money, I wouldn't have had a problem with that. And NEWLY PROMISED bonuses would of course be right out. But ones already contracted? What else were they supposed to do?
Legislation enacted under high emotion is rarely wise. We've seen that before...
If the government did not want the bonuses given out it should have been part of the agreement prier to the money being lent.
The government KNEW that the bonuses were part of the deal ... It was Sen. Chris Dodd that put the bonuses back in the deal and now he's trying to lie about his involvement. He was finally forced to admit yesterday that he did put the bonuses back in the bill ... after Liddy's testimony implicated him... but now he's trying to blame Obama for making him put the bonuses in the bill. They're all a bunch of crooks and liars and you're right timothy - they don't care about the Constitution. Their sole concern is their own personal power.
RV - try this link
http://www.businessweek.com/
the_..._fren.html#more
This is pure B.S. who or what is next?
I also heard that the authorities want to make a tax of 90 percent of all bonuses, I do not know what this will lead but hope for the best.
What next? Raise the tax rate on a small company that gets an NSF grant and is already paying their CEO a little more than Congress would deem "appropriate"? That's where this BS is headed. Shame on Congress. If they wanted AIG execs to not get their bonuses, here's an idea: Don't bailout AIG and let it fail. Then those execs would be out of jobs.
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