This country has changed in ways unimaginable thirty years ago. The Democrat Party is still dominated by Unions, urban political machines, and corrupt political monsters, but today, there is a special brand of lawlessness among the players that we as Americans simply can not tolerate. In the old days, when you 'bought' a politician, he stayed bought. Not anymore, and that, my friends, is unAmerican.
Senator Chris Dodd of Connecuticut is a prime example. AIG has offices in Connecuticut. Senator Dodd recieved more money from AIG than any other politician. Many of his constituents work in the finance, banking or insurance industries. He sits on the Senate Finance Committee. He inserted into the AIG bailout bill language that not just allowed AIG to pay the bonuses, it guaranteed that they would pay the bonuses. He didn't do this on accident. It was deliberate. It was for stuff like this that the AIG gave him all that bribe money...excuse me,....all those campaign donations.
Now, we the people have found out about the bonuses, and we're pissed. Despite having come from this industry and having received bonuses of this type in the past, Geithner and Paulson are shocked that this occured. President Obama claims no prior knowledge of this, and Senator Dodd is scrambling to find a way to undo his clause and to cover his ass. All sorts of people are arguing that the money should be given back. Congressman Barney Frank is loudly lisping that the money should be taxed at 91%.
The real problem is that we are bailing out failing businesses. We should allow them to fail. If we let them fail, the others will realize that we won't save them. Those who can save themselves will save themselves. Those who can't will perish. In the case of GM, both GM and the UAW will be slapped with the reality that the American taxpayer isn't going to subsidize their health care and retirement programs. GM must become economically viable or die. Only then will the UAW either get reasonable with GM, get broken, or GM will fail.
In the case of AIG, everyone from Obama down knew about the bonuses. Because so many of the players either come from that industry, or are closely associated with that industry, it's simply not resonable to believe Gietner's, Paulson's and President Obama's claims that they had no knowledge of the bonuses. Geithner ran the Federal Reserve Bank of New York, and Paulson was CEO at Goldman Sachs. Didn't know? Hell, they were beneficiaries of these types of bonuses in the past. From the perspective of the Democrat Party, the real problem here isn't the bonuses, or even that the American public found out about the bonuses. The real problem is that the American public may realize that this particular bunch of crooks can be trusted even less than the prior bunch of crooks.
Senator Chris Dodd is the worst of the worst. AIG bought and paid for him, and now he's rolling over on them. If I am one of the executives at AIG who got the bonus, I'd be angry. If I have to give up my 'bonus' money, I'd be demanding, loudly and publicly, my bribe money back.....excuse me...my campaign donation money back. What good is it to buy a politician if he won't stay bought?
That's just throwing good money after bad.
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