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Sunday, March 22, 2009
Steve Chapman :: Townhall.com Columnist
AIG and Our Embarrassing Congress
by Steve Chapman
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Congress is outraged. Really, really outraged. Unbelievably, incredibly outraged. And there are certainly grounds for anger.

Not at the insurance company AIG, which paid bonuses that are seen as intolerable, but at Congress, which blithely declined to prohibit them but is now shocked to find AIG doing what it was allowed to do. The Democrats who control Capitol Hill want revenge, as do many Republicans. So the House voted by a 328-93 margin to impose a 90 percent tax on the payments.

In doing so, members resolutely avoided a couple of inconvenient realities. The first is that the fault, if any, lies with the same people who are now angry. The second is that the tax conflicts with the clear intent of the Constitution.

The pending fees were not exactly classified information. "AIG's plans to pay hundreds of millions of dollars were publicized last fall, when Congress started asking questions about expensive junkets the company had sponsored," reports the Associated Press. "A November SEC filing by the company details $469 million in 'retention payments' to keep prized employees."

In January, two House members urged the Federal Reserve and the Treasury to block such bonuses. Last month, the Senate passed an amendment outlawing such payments by companies getting federal bailout funds -- and then dropped it.

The White House was also in the loop. Sen. Chris Dodd (D-Conn.) says that the administration asked him to attach a provision to the stimulus bill that authorized such bonuses. Dodd protests that he only agreed because he didn't understand what the measure would do.

Maybe other people who voted for it in the Senate and House didn't either. Maybe Dodd and the rest ought to read legislation before they approve it.

But if members had any pangs of remorse for their failure, they stifled them in favor of vilifying AIG and its personnel. House Financial Services Committee Chairman Barney Frank demanded the names of employees who "had to be bribed not to abandon the company." Rep. Michael Capuano (D-Mass.) urged that they be fired.

Until these staffers can be publicly tarred and feathered, though, the House will settle for subjecting their bonuses to a 90 percent tax levy -- up from the normal maximum rate of 35 percent. Why not 100 percent? "State and local governments will take the extra 10 percent," said Ways and Means Committee chairman Charles Rangel.

So the bill aims at sanctioning supposedly bad people by confiscating their earnings. As such, it sounds an awful lot like something the Constitution expressly forbids -- a bill of attainder, which is a punishment of particular individuals imposed not by a court of law but by a legislative body.

Many if not most legal scholars believe this furious retribution can be structured to pass judicial review. But not Jonathan Turley, a George Washington University law professor. "I am not so confident that it would pass constitutional muster," he told me. "While courts give Congress great discretion in the tax area, this would require a case of willful blindness."

Turley speaks with special authority on the subject because of a rare achievement: In 2003, he persuaded a federal appeals court that a law passed by Congress was a bill of attainder.

That statute revoked a divorced father's visitation rights because his ex-wife claimed he had molested his daughter -- a charge that courts repeatedly rejected. But it was overturned because the court found the measure, though it didn't name him, was designed to place a severe burden on a specific person deemed to have done something terrible.

Ditto for this legislation. It's aimed at AIG employees who accepted payments guaranteed them by a legal contract, and it's intended to inflict pain to express disapproval of their conduct. Rangel, in fact, had earlier opposed the tax because it would be "punitive." But after voting for it, he explained that "we had very few weapons" to use against the recipients. Taxation as a weapon -- if that's not punitive, what is?

To uphold the tax, says Turley, "the courts would have to ignore the open statements of members of Congress. They have done everything short of burning the AIG executives in effigy on the House floor."

Maybe the people in Congress are smart enough to figure out a way to sneak this act of targeted revenge past the courts. Maybe, in other words, they have more brains than scruples. But so far, they haven't shown much of either.

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Steve Chapman is a columnist and editorial writer for the Chicago Tribune.
 
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Capitol Switchboard (202)224-3121
This just adds to Jay's website.

Please call EVERY DAY! You do not have to spend the entire day on the phone calling D.C.. Just call a few each day and let their Aides know what is on your mind.

No one in Congress likes negative phone calls. It makes them nervous. Be polite. just remind them that we out here in Whoville are watching.

If you cannot make a Tea Party near you, send a teabag. Make sure the bag is empty of tea. The Federal Post Office considers the leaves "potentially dangerous substances".

If you want to know where the parties are, go to FOXNEWS/americasnewsroom.com. They have a listing of ALL the parties taking place nationwide on April 15th.. It's an impressive list.

HONOR DUTY COUNTRY

Tell Congress to Stop the Spending!
Congress and Obama are putting us into a hole we may not get out of.

Tell Congress that it's time to STOP the Spending!

Don't let them claim that they never heard from you.

Follow the link and send your members a personlized fax today.

You can even fax entire groups at once, (all Republicans, Democrats, or state delegations)

http://www.conservativeoutpost.com/campaign/cta/stop_spendi ng

Oh Yea that 1100+ Page Stimulus
bill was so transparent ..duh..did anyone see that it wasn't posted on the gov site for all to view..duy NO..and no one in Congress read that sucker either..not even their "Messiah"..fraudulant bunch of crooks..

Taft
"My point is that, if Rush and others defend these CEO's who are having the government micro manage their salaries, then why didn't thy make a fuss over the Salaries of auto workers being micro managed. Not only that, I'm sure Rush was all for their wages being set by the government."

Rush defended the bonuses because of the sanctity of the contract in American law and because we are supposed to be a country of laws. Further, he didn't necessarily take the side of the AIG executives. He was outraged, as were most Americans, by the kabuki theatre that went on in Congress. The Congressional "doofi" passed the Dodd Amendment and the White House begged for the AIG exemption. Lastly, Obama signed it. Remember when he promised to go line-by-line through legislation. What happened?

With regard to the UAW, Rush did not advocate their contracts be abrogated. What he said was that the Big 3 would never be able to survive if they continue to pay the benefits of 1M when they only have 100,000 employees.

One Question??
Why ask Mr. Turley, didn't you tell me the President of the United States, Mr. Obama, was a Constitutional Scholar and a Harvard Lawyer? He is the one who is going to sign the Bill into law. Could you be aleging that there is no difference between Obama and Bush in your article? Sorry...Two Questions.

Semper Fi One

Anyone concerned?
AIG gets paid cash money. No questions no offer of guaruntees. Cash. They pay out cash 100 cents on the dollar to Bear STearns?

Am I crazy to think there are some big Congressional donors getting their butts covered by our tax dollar?

1981 Schumer and Hoyer on legislation that allows mortagage rules to be lowered.

1986 Congress busy bailing out SLs.

2000 Legislation that allows the bundling of assets in commodities markets

2006 Congress still trying to lower mortgage standards.

Congress claims they didn't know it was coming?

AIG and the Bonus to employees
Let's not quibble over a few million in bonus payments. These fools in Congress have already put the whole U.S. in the tank trillions of dollars. Is there any chance that each state will throw their own bums out of office?? Not a chance - that would mean the state would lose their senior position in the lineup to leadership. Imagine that, leadership in a group of fools, boy that is really something to strive for. We now have the biggest group of liberal idiots since FDR, and, believe me, they are certainly going to make us pay for the pleasure of watching them. The one good thing that they have done so far is put religion back into the realm of the taxpayer. AIG's Takaful Ins. Group is a Shariah Compliant company. Imagine that, democrats have funded Shariah Law compliant services for the Muslim community. Great Work Guys.

al@bellaproducts.com

Follow the history!!!
We were taken 1982 Legislation co-sponsored by Shumer and Hoyer allowed mortgage rules to lowered.

1986 Congress in the middle of Cleaning the S&L mess. Who's all in Congress at the time?

2000 Legislation that allowes the bundling of loans.

20006 Freddie and Fannie being encouraged to produce more loans.

The profiteers were doing what the government wanted them to do.

They saw what happened and realized that they had settled for chump change. Congress says Let's do it right this time and socks taxpayers for TRILLIONS.

AIG WAS PAID CASH!!! THEY WERE NOT ASKED BY OUR OUTRAGED CONGRESS TO NEGOTIATE THE LOANS DOWN.

THEY PAID CASH 100 CENTS ON THE DOLLAR!

WAKE UP PEOPLE. Do you wonder at all whether some major lobbiests didn't have investments tied up with Bear Stearns and the like?


Dag
Their best employees ran the company into bankruptcy and vast corruption. Use yer head dag burn it.

IQ
I have never read in the constitution but it must be there somewhere that to be eligible to run for congress your IQ cannot be above 90 and if you vote for them 85

And now we see Communism
This is why communist nations become stinking piles of rubbish and anger. We see our first large glimpse at the idiot dems on the hill "running a company", and the first thing they do is smash mouth their very best and highest paid employees, who have all the knowledge of operations, after they hamfistedly made sure they'ed get their high pay.
The dems on capitol hill need to be bound and put inside the nearest rubber roomed funny farm.
Then, we need to TAKE AWAY THEIR PAY and bonuses, as it also is an "outrage!" of immense proportion.
What a bunch of lying DUMMIES.

Husker
I called the RNC today and was told that they are getting a lot of phone calls and e mails regarding the fact the Republicans went along with the AIG tax.

I think it was Rowley that came up with a great
Tea Party sign "Congress, Gangsters in Pinstripes and Pearls" They make Al Capone look like a saint. They get away with the same
stuff he was jailed for.

Who does that arrogant FOOL infesting the White House think he is? Laughing at the pain he and his cabal are inflicting on the American taxpayers up to the third or more geneation?
Some say he thinks he's king, I think he's more like Pharoah..who also thought he was a god and
was just as hard hearted; who killed babies by fiat and shook his fist in the Face of God Almighty..and because of his coldness, his haughty arrogance and believing himself equal
to GOD his people paid a terrible price. We
The People are paying and will also pay a terrible price for the small majorities worship of this tin god; for their choosing DEATH over LIFE (Obama/Palin), the death of our economy is just the start. Unless the American people
wake up and return to the God who gave us this land and our Constitution..it's going to get rougher..just as it got rougher for the Egytians, the most powerful and wealthiest nation of it's time.

Denise
My point is that, if Rush and others defend these CEO's who are having the government micro manage their salaries, then why didn't thy make a fuss over the Salaries of auto workers being micro managed. Not only that, I'm sure Rush was all for their wages being set by the government.

Now, practically speaking, I think it may be fine for them to have lower wages. Even though the high salaries, 70+ was a fabrication, they probably do make too much.

Taft

Let us know how you feel about the fact that, when Congress passed (what I believe, as an attorney, to be an unconstituional bill, i.e., the 90% tax on CERTAIN bonuses), they exempted the bonuses due to be paid to Chrysler executives in August '09. Since you are so concerned about the renegotiation of UAW contracts, that you would be outraged about Congress's latest move.

http://hotair.com/archives/2009/03/22/the-chrysler-waiver-f or-executive-bonuses/

How much Mr. President?
President Obama is real good at spouting generalities. He says he wants to change the culture that led to the AIG bailout.


How about changing how your administration is dealing with it?

You guys gave away CASH MONEY without negotiating.

You allowed AIG to funnel Billions when there could have been that old government standby of gauranteed loans.

Maybe the Leno interview was on your mind Mr. President because it seems we see a lot of government as usual. Throw money at the problem so the problem goes away.

Mr. Kroft failed to ask what mechanisms there are for you to trace THE CASH?


On the other hand...
Many of us are rightfully angry at the Democrats mentioned.

They are the party in power, and they can pass or stop legislation pretty much at will.

A bigger outcry should come at the Republicans who are going along with this nonsense.

"ex post facto"
Not only is a 90% tax on bonus' already received a "bill of attainder", it would be a law passed "ex post facto", also expressly prohibited by the Constitution. When these bonus were paid, tax rates were already set by existing law, and can only be taxed at the rate in existence at that time.

minimum wage for congress!
Let me understand this.
1. Congress votes itself pay raises inspite of their pathetic performance.
2. They throw out several hundred billion dollars and can't account for it.
3. They started this mess with their massive, asinine subprime loans.
4. Now they want to make themsleves look good by being outraged by AIG bonuses??
5. A 90% tax on a small group of people just because congress doesn't like them?
''And the band played on"".
** I say vote every last one of them out of office, dismantle their bureaucracies and start from scratch.
** The people who created this mess will not be able to fix it. The American people will fix the problem..one vote at a time.

-
"So the bill aims at sanctioning supposedly bad people by confiscating their earnings. As such, it sounds an awful lot like something the Constitution expressly forbids -- a bill of attainder, which is a punishment of particular individuals imposed not by a court of law but by a legislative body."

Supposedly bad? Is he kidding? And is he defending Obama here or what? Remember they ad no problem changing the wages of factory workers at GM. Our system is corrupt and jerks like Steve here try to let them off the hook.

Brains and Scruples?
Reid, Pelosi, Rangel, Frank, Dodd, Schumer, Murtha, Geithner, Daschel, and Obama....

Neither brains or scruples....

Time fot.Term-limits?
So, Great Britain is ridiculing the US, China is scolding the US, Iran is sticking it's thumb in the eye of the US, and Chavez of Venezuela calls our president ignorant, and the economy is becoming a train wreck.
Off to a great start, aren't we, Mr. O.?

Then, Senator Chris Dodd, the honorable senator from Conn. only agreed to the bonus authorization in the spending bill because he didn't understand what the measure would do????
He is an elected member of Congress, right? Aren't these people supposed to UNDERSTAND these things?

This whole scene would be a great comic farce if it weren't so tragic.

I vote for retroactive term limits.

Quote From The NY Daily News
Missing in action is the Barack Obama who vowed to unite the country around common values. Lately he has been the very opposite of the man he promised. Instead of hope, many have a growing fear of the arrogant government he leads.

In truth, there is no history for what he is doing. He is the most radical President of our times, far outside the mainstream of our political philosophy.

He is not a reformer who fixes things. He fancies himself "transformative," a man who reshapes and reorders. It apparently begins with smashing the existing order under the pretext of managing the crisis he inherited.

During the campaign, a fellow journalist confided that "I know Obama is a Manchurian candidate, I just can't figure out what for."

I laughed then, but no more. Obama represents a secular religion that believes, no matter the malady, Washington is the antidote. More government is the chicken soup of his tribe.

It is an illusion of many Republicans and Democrats that Washington can successfully manage the economy and our lives. Our institutions and culture are too big, too diverse and too unruly to be run like a banana republic.

Yet the economic mess has robbed the nation of its confidence, and the vacuum is being filled by politicians bearing promises and borrowed dollars. The true cost of this "help" will come later, with back-breaking debt and a lack of growth and opportunity.

We can't say we haven't been warned. "Whom the gods would destroy, they first make mad" is more than folklore. It predicts our fate if we follow the government mob.

Frankie
Congress needs to go
How about a nationwide petition requesting that the following members of congress step down--Barney Frank, Chris Dodd, Chuckie Schumer, Nancy Pelosi, Harry Reid, Arlan Specter, the senator from MI, and a few more. Are the American people so stupid as to keep reelecting these morons?
****************
Because they are Democrats. If they were Republicans you would see the Democrats,along with their mouthpieces,the mainstream media,scream to high Heaven for impeachments,etc....Democrats get a pass for anything unethical.

War Deficit vs. Social Welfare Deficit
This RV can't handle the road much longer:

http://colista.blogtownhall.com/2009/03/22/war_deficit_vs_s ocial_welfare_deficit.thtml

Keep reading and keep fighting!

Congress needs to go
How about a nationwide petition requesting that the following members of congress step down--Barney Frank, Chris Dodd, Chuckie Schumer, Nancy Pelosi, Harry Reid, Arlan Specter, the senator from MI, and a few more. Are the American people so stupid as to keep reelecting these morons?

Congress attached is .....
Congress attached is tea bag to represent how most of OUR country is beginning to feel about you. We soon will have another Boston Tea Party sinking all of Congress, but especially the Dumbocrats. And then we go after President Obama! It is just a matter of time; which will be sooner than later!

Funny Man
That's what makes me so mad,that he is enjoying watching this go down. He is happy .

Obama's 60 Min.Interview.
President Barack Obama said he believes the global financial system remains at risk of implosion with the failure of Citigroup or AIG, touching off “an even more destructive recession and potentially depression.”

His remarks came in a “60 Minutes” interview in which he was pressed by an incredulous Steve Kroft for laughing and chuckling several times while discussing the perilous state of the world’s economy.

“You're sitting here. And you're— you are laughing. You are laughing about some of these problems. Are people going to look at this and say, ‘I mean, he's sitting there just making jokes about money—’ How do you deal with— I mean: explain. . .” Kroft asks at one point.

“Are you punch-drunk?” Kroft says.

“No, no. There's gotta be a little gallows humor to get you through the day,” Obama says, with a laugh.

Open Secrets
Contact your Senators and House members and insist that the President and members of Congress who received campaign contributions from AIG, Goldman Sachs etc RETURN THE MONEY.
Obama alone received over $100,000 from AIG. Go to opensecrets.org and follow the money.

Does He or Doesn't Hem
Does Hussein have the guts to veto NAZI Pelosi's tax the bonus bill? Only time will tell!

http://www.newsmax.com/newsfront/obama_bonuses/2009/03/22/1 94762.html

First, AIG... Now, Chrysler...
When the House passed its bill to tax executive retention bonuses at firms receiving TARP bailout funds, they added an odd codicil to the legislation that puzzled some observers. The legislation only applied the taxes to firms that received a minimum of $5 billion in cash infusions from Treasury, causing some people to wonder why that particular number got chosen. As it turns out, a neglected part of the Chrysler bailout loan agreement may be the answer.

On page 265, near the end of the lengthy document, the agreement stipulates:

7.17. Executive Privileges and Compensation.

The references to the Borrower in Section 7.17 of the Loan Agreement shall be deemed to be references to Chrysler LLC.

(a) Notwithstanding anything herein to the contrary, Section 7.17(a) of the Loan Agreement shall be modified to add the following at the end of subsection (v): “; provided, however, that a Relevant Company or any of its Subsidiaries may pay retention payments due in August 2009 earned on a pro rata basis through the date of this Agreement.”

How much did Chrsyler get in cash? $4 billion. Under these terms of the bill and the loan agreement, Chrysler can pay out its bonuses without incuring any extra tax penalty. It’s a very convenient coincidence, isn’t it?

http://hotair.com/archives/2009/03/22/the-chrysler-waiver-f or-executive-bonuses/


Don't be distracted again. Last week, we watched the drama queens in Washington successfully deflect attention from the MOST IMPORTANT NEWS OF THE WEEK, i.e., the incredibly risky move taken by the Federal Reserve. Tomorrow, Geithner is supposed to unveil his abyssmal bank stabilization plan, which has already been panned by ultra-liberal economist, Paul Krugman, and the international financial news services. Keep your eye on the real ball.

Not much to say
with Denhise and OncealwaysaMarine posting. The key to this mess is businessman confidence. We are in economic stasis until businessmen see a way to make some money. Until then, nobody will hire or invest. It is obvious that Dumbo is failing to inspire confidence. This could go on indefinately. Try DOing something right, Dumbo. SAYing the right thing may have worked in south Chicago, but it isn't cutting it with the people who make a difference.

Neither
the congress nor the administration care what other governments or people think of them. They're only out to one up each other in the Lame Stream Media (LSM) headlines. To distort a quote from the movie "Patton", "give Pelosi a headline and she is good to screw over a new entity!"

Pistol
Hey thanks!

Taft
Your polite response is acknowleged.

Pistol
I usually try to be "reasonable" and I'm hardly ready to throw in the towel and say Obama was a mistake to vote for over McCain. That was our choice.

Onceandalwaysa Marine states some disappointments to be sure, but that's only looking at the glass as half way empty. To give Bush credit, he new what maelstrom Obama was going to be tossed into, and has stayed quiet. And, on the bright side, no-one will call him a socialist anymore. A socialist wouldn't have allowed these bonuses, right? Also, if he hadn't allowed them, and AIG had just declared bankruptcy, what would Wall Street have done? If that had happened he would probably be in even hotter water.

Some Proud...Others Embarrassed 2

"If the majority of Americans come to accept the caricatures of business as true, then America is closer to the end of its life as a global leader, as a champion of markets and individualism."
_____________________________________________

If you read the ghoulish commentary and asinine gloating of the Obama sycophant libtards supporting any and all Democrat nonsense on these threads, and in 100% of our public school systems...the end of American life may be closer than you think.

Rather than protest the ineptitude and outright criminality of the den of thieves in Washington, D.C., they allow themselves to be rounded up like sheep by ACORN brownshirts (or some other middle-aged hippie retread professor-types) to be shuttle to the homes of AIG employees to demonstrate against what they are told is the enemy of the poor: "rich people."

While never having the intelligence to realize that the only thing they are demonstrating is their ignorance and inability to see the forest for the trees. Seeing only the mote in the "rich" man's eye, while failing to see the beam being shoved up their rectums by Congress and the White House.

The whole world's watching.

It wasn't enough that he made a complete @ss of himself on Thursday night's Jay Leno show. He's back at it tonight doing the only thing he knows how to do: Mug for the cameras.

As he makes yet another spectacle of himself on 60 Minutes tonight in what amounts to yet another campaign appearance, Barack Hussein Obama will once again show just how vacuous and unconcerned he is with doing any actual work; his overriding and primary concern being personal gratuitous celebrity.

What seems to be a sense of pride in Obamanation to some here...serves as an embarrassment to many others.

The Election of Barack Hussein Obama...most possibly will turn out to be the greatest tragedy in the history of America.

By Michael Goodwin....N.Y.Daily News.
From anger to madness: A class-warfare crazed government mob is running amok
Sunday, March 22nd 2009, 4:00 AM

Everybody makes mistakes, and I made a beaut the other day. I was wrong to call members of Congress blow-hards and buffoons and declare them worse than useless.

I was too kind.

I should have said our representatives are gangsters in pinstripes and pearls. They are petty tyrants and the more power they grab, the more at risk we are. Homeland Security should flash Code Red any time this Congress is in session.

It is twilight in America now. The House vote to use the tax code to retroactively punish bonus babies was an act of sheer madness. What started as phony outrage at AIG has crossed the line into insane policy. It is stunning that the vote was lopsided and bipartisan.

The Senate is itchy to go along, and President Obama says he's ready to tighten the thumbscrews on the banks. Is there no adult who will bring a straitjacket?

We should all be very afraid. Class warfare is mere predicate for a witch hunt that, once unleashed, will not stop with misbegotten wealth. It will punish success and stifle innovation. Dissent will invite dishonor.

That Congress is a gang of cheap connivers is not news. Chris Dodd, Charlie Rangel, Charles Grassley, Barney Frank - they have been national embarrassments for years.

Some Proud...Many are Embarrassed 1

"Past success, however, is no guarantee of future recovery, especially now when there are daily disasters and new indicators of political breakdown. All developments are not disasters in themselves. The AIG bonus firestorm is a diversion from real issues , but it puts the ghastly political classes who make U.S. law on display for what they are: ageing self-serving demagogues who have spent decades warping the U.S. political system for their own ends. We see the system up close, law-making that is riddled with slapdash, incompetence and gamesmanship.

One test of whether we are witnessing the end of America is how many more times Americans put up with congressional show trials of individual business people and their employees, slandering and vilifying them for their actions and motives. And for how long will they tolerate a President who berates business and corporations as dens of crime and malfeasance? If the majority of Americans come to accept the caricatures of business as true, then America is closer to the end of its life as a global leader, as a champion of markets and individualism."

http://network.nationalpost.com/np/blogs/fpcomment/archive/ 2009/03/19/terence-corcoran-is-this-the-end-of-america.aspx

______________________________________________

Up in Connecticut this weekend, we already got one example of how mindless, easily-duped Obama Kool-aid drinking liberal stooges will react:

By turning their anger against other private citizens under the direction and finger-pointing of those "ageing self-serving demagogues who have spent decades warping the U.S. political system for their own ends," while they pridefully insist that we all continue to "tolerate a President who berates business and corporations as dens of crime and malfeasance."
_____________________________________________



Let's remember, no Rep. in the House
and only three traitors--Spector, Collins, and Snowe--voted for the stimulus. Get rid of them.

Give the "Just say NO guys" some credit, and keep them saying NO, because there is NO money for any of this krap.

It has to be borrowed form an enemy like China, printed by the Treasury to cause hyperinflation, or taxed out of the middle class, because that's where 93% of all fed. taxes come from.

All Are Guilty
It is hard to point a finger at all the guilty parties. There are so many of them. Going back for decades. They all have AIG on their faces!!

Not surprised here...
This is what happens when the federal government touches anything. Can anyone honestly proclaim surprise here? The only thing the government does right is the military, but then it's run by soldiers and not by bureaucrats so I guess they would screw that up too if they had a hand in running it.

The federal government is run by fools who care only about controlling the lives of Americans (their power). Of course, they are perpetually re-elected by the same fools who give them their power. So, who's the bigger fools...the crooks in Washington or the morons who send them back to Washington time-after-time?

Baci
"From NYC to ( ALPINE also ) LA , we are going to have some fun."

Glad that you are having fun, but I have two questions for you. (Acutally, I have more, but...)

1) How do you like the cozy and hypocritical relationship between AIG and Dodd and Rangel?

2) Remember how the Left screamed bloody murder about Bush spending $10bn/mo. in Iraq and Afghanistan? Well, how do you feel about the Obama Administration and the Federal Reserve PRINTING ONE TRILLION DOLLARS last Wednesday?

Does it surprise anyone to know
The government did not offer AIG gaurantees if they negotiated with Bear Stearns and the banks with claims?

AIG got CASH money which they paid out dollar for dollar without negotiation.

Did Bear pay back some of the government money they received, with AIG money?

Resolution Trust Corporation ring a bell with anyone else?

To Roy
Seadog was correct, the British article I cited that spoke of Europe's fascination and horror in witnessing our leaders' incompetence was in the Telegraph. I couldn't find that article but, unfortunately there are many others. Here's one from Canada:

http://network.nationalpost.com/np/blogs/fpcomment/archive/ 2009/03/19/terence-corcoran-is-this-the-end-of-america.aspx

Up To A$$ In Alligators
Charlie Rangel's relationship with A.I.G. is a complicated one; as recently as last year, he was trying to woo the company to donate $10 million to a school to be named in his honor. And while A.I.G. officials mulled the request, Mr. Rangel supported a provision in a tax bill that saved the company millions of dollars.

For decades, Mr. Rangel has been a close friend of Maurice R. Greenberg, the chief executive of A.I.G. until 2005, and until recently one of the company’s biggest shareholders. Mr. Greenberg has sponsored fund-raisers on Mr. Rangel’s behalf, and in 2007, a foundation controlled by Mr. Greenberg gave $5 million to the school, the Charles B. Rangel Center for Public Service at the City College of New York.

City College records show that the effort by Mr. Rangel and college officials to persuade A.I.G. to donate to the school went on for two years. In a 2007 e-mail message obtained by The New York Times, City College’s director of development, Rachelle Butler, wrote that Mr. Rangel suggested in early 2006 that fund-raisers concentrate on A.I.G. for a contribution. Two years later — on April 21, 2008 — Mr. Rangel attended a meeting at A.I.G. to ask the company to support the school, without specifically discussing a donation.

A month later, as A.I.G. was still considering a financial contribution, the top executive who had attended the fund-raising meeting wrote a letter to Mr. Rangel, urging him to support a provision of a tax bill that would save A.I.G. millions of dollars a year.

Mr. Rangel dropped his opposition to the tax measure, which eventually became law.

With Mr. Rangel’s personal finances and fund-raising for City College now the subject of an ethics investigation, some Republicans questioned whether Mr. Rangel’s public protestations about the bonuses were designed to eclipse his connections to the company over the years.

http://www.nytimes.com/2009/03/21/nyregion/21rangel.html?_r =1&ref=business

Add Another Liberal To The Chorus - II

He should have gone on national TV and had the fireside chat with the country that is long overdue. That’s a talk where he lays out exactly how deep the crisis we are in is, exactly how much sacrifice we’re all going to have to make to get out of it, and then calls on those A.I.G. brokers — and everyone else who, in our rush to heal our banking system, may have gotten bonuses they did not deserve — and tells them that their president is asking them to return their bonuses “for the sake of the country.”

Had Mr. Obama given A.I.G.’s American brokers a reputation to live up to, a great national mission to join, I’d bet anything we’d have gotten most of our money back voluntarily. Inspiring conduct has so much more of an impact than coercing it. And it would have elevated the president to where he belongs — above the angry gaggle in Congress.

Right now we have an absence of inspirational leadership. From business we hear about institutions too big to fail — no matter how reckless. From bankers we hear about contracts too sacred to break — no matter how inappropriate. And from our immature elected officials we hear about how it was all “the other guy’s fault.” I’ve never talked to more people in one week who told me, “You know, I listen to the news, and I get really depressed.”

Add Another Liberal To The Chorus - I

From Thomas Friedman:

I ran into an Indian businessman friend last week and he said something to me that really struck a chord: “This is the first time I’ve ever visited the United States when I feel like you’re acting like an immature democracy.”

You know what he meant: We’re in a once-a-century financial crisis, and yet we’ve actually descended into politics worse than usual. There don’t seem to be any adults at the top — nobody acting larger than the moment, nobody being impelled by anything deeper than the last news cycle. Instead, Congress is slapping together punitive tax laws overnight like some Banana Republic and our president is getting in trouble cracking jokes on Jay Leno comparing his bowling skills to a Special Olympian.

If you want to guarantee that America becomes a mediocre nation, then just keep vilifying every public figure struggling to find a way out of this crisis who stumbles once — like Treasury Secretary Timothy Geithner or A.I.G.’s $1-a-year fill-in C.E.O., Ed Liddy — and you’ll ensure that no capable person enlists in government. You will ensure that every bank that has taken public money will try to get rid of it as fast it can, so as not to come under scrutiny, even though that would weaken their balance sheets and make them less able to lend money. And you will ensure that we’ll never get out of this banking crisis, because the solution depends on getting private money funds to team up with the government to buy up toxic assets — and fund managers are growing terrified of any collaboration with government.

President Obama missed a huge teaching opportunity with A.I.G. Those bonuses were an outrage. The public’s anger was justified. But rather than fanning those flames and letting Congress run riot, the president should have said: “I’ll handle this.”

Taft, Lehman Bailout?

"Bush didn't stop any bonuses from his Lehman Brothers bailout either. Republicans would have had a fit if he had tried to micro manage a companies internal workings."


Taft, what are you talking about concerning a Lehman Brothers bailout? The Federal Government DID NOT bailout Lehman Brothers. Paulson let the company FAIL. The bonuses were not paid because the company went out of business.

Excellent blogs here--
Most of these blogs on the thread are excellent and right on the money. Unfortunatly when the election times roll around, the choices are somewhat limited and probably some of the best and patriotic candidates don't have the money behind them that the incumbant sell-out do. So the same old group gets back in, and is also controlled by their puppet masters at our expense. BTW I think that a lot of the good conservative bloggers on this thread would probably do an excellent job as patriotic people in congress. Most of those in there now I think should be prisoned to do hard labor for the next 50 years.

"Geithner Is A Gigantic Fool" - I


Australia's Keating: Geithner is a Gigantic Fool

A fierce piece on Treasury Secretary Timothy Geithner has come out of Australia. It places pretty much the entire current world meltdown on the shoulders of Geithner.

It begins with an attack on Geithner's handling a decade ago of the Asian Crisis. Geithner was then at the Treasury and stick handled the Indonesia bailout plan.

According to the Sydney Morning Herald's Peter Hartcher:

...in a speech to a closed gathering at the Lowy Institute in Sydney on Thursday, [former Australian Prime Minister]Paul Keating gave a stark...account of Geithner's record in handling the Asian crisis: "Tim Geithner was the Treasury line officer who wrote the IMF [International Monetary Fund] program for Indonesia in 1997-98, which was to apply current account solutions to a capital account crisis."

In other words, Geithner fundamentally misdiagnosed the problem. And his misdiagnosis led to a dreadfully wrong prescription.
According to this scenario, Geithner so mishandled the Indonesia problem that it spooked other Asian countries to never be caught short and thus dependent on the U.S. or the IMF.

Keating continued:

Soeharto's government delivered 21 years of 7 per cent compound growth. It takes a gigantic fool [Geithenr] to mess that up. But the IMF messed it up. The end result was the biggest fall in GDP in the 20th century. That dubious distinction went to Indonesia. And, of course, Soeharto lost power.

This Keating argues is behind China's massive accumulation of Treasury securities. This accumulation, Keating says, lead to China to finance and fuel much of the the artificial boom in the U.S. that is now collapsing.

"Geithner Is A Gigantic Fool" - II


Hartcher writes:

China, in particular, drew hard conclusions from the IMF's mishandling of the Asian crisis. It decided that it would never allow itself to be dependent on the IMF, or the US, or the West generally, for its international solvency. Instead, it would build the biggest war chest the world had ever seen.

With Keating adding:

This has all been noted inside the State Council of China and by the Politburo. And it's one of the reasons, perhaps the principal reason, why convertibility of the renminbi remains off the agenda for China, and it's why through a series of exchange-rate interventions each day that they've built these massive reserves.

Reserves are so large at $US2 trillion as to equal $US2000 for every Chinese person, and when your consider that the average income of Chinese people is $US4000 to $US5000, it's 50 per cent of their annual income. It's a huge thing for a developing country to not spend its wealth on its own development.

The bottom line fundamental cause of the current crisis (and Keating notes this) was the money printing of Alan Greenspan during his tenure at the Fed. That said, it has always been a curious fact as to why China would amass such a huge Treasury portfolio. Without China's huge Treasury accumulation which supported the dollar and prevented it from collapse, it is likely Greenspan's money printing gig would have ended much sooner, with much less structural damage.

The general belief has been that China has propped up the dollar to support its exports, and this most certainly is a very important consideration of the Chinese government. Yet, the Keating thesis has a ring of plausibility to it, and may be a second key reason why the Chinese have been willing to accumulate such a huge Treasury securities position.

http://www.economicpolicyjournal.com/2009/03/australias-kea ting-geithner-is-gigantic.html

http://www.nakedcapitalism.com/2009/03/former-australian-pr ime-minister.html

Taft..."not a good thing" indeed 5

In the case of the stimulus, there was never any doubt Obama would sign the legislation. The period in which the public needed sunlight was before the bill was passed, not before it was signed.

And that was precisely the kind of sunlight the Obama White House and Congressional Democrats proved they never wanted or were willing to entertain after all.

Once they accomplished that with Friday’s voting bumrush, Obama could take a few days off in Chicago while the “emergency” legislation sat on his desk. Then, it was on to Denver for the photo-op.

The most famous piece of legislation passed by the 111th Congress, the Stealfromus bill, may have nothing to do with health care or energy. It could be the Dodd amendment, also known as the Geithner amendment, or perhaps the low-level-anonymous-staffer-everyone-can-safely-blame amendment, reading in part:

"The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009 ...”


Now they want to feign outrage and get a pass on legislation they signed without providing any of the REGULATION they claimed was absent in the Bush administration. A lack of regulation they claimed is the sole reason we are in this economic “crisis” and “catastrophe.”

Yet they pass a bill into law with ZERO regulation…hell, they didn’t even read the damn law before they voted to pass it into law!!

Transparency?

No.

Transparency has never been an issue with Barack Hussein Obama or the Democrat Congress in my opinion. Nor is their any inclination that they respect our right to know what they are doing with our money.

Rookie mistakes? Maybe. But a more rational view of Obama's performance so far, indicates something far more nefarious than that in the way he is prepared to deal with the business of America.

Good thing? No. Not a good thing..

Geithner's Grab Bag Of Slogans

The New York Times got the obligatory leak from the nearly-empty halls of Treasury for today’s scoop on the plan from Tim Geithner and Barack Obama on how to fix the economy. To no one’s great surprise, it involves more regulation and intervention by the government, but the only thing clear about it is that Geithner and Obama still don’t have specifics.

The one clear message that comes from this report is that the Obama administration still has no plan. It has a few concepts, some of them contradictory, but no clear commitment to any details at all. Which again begs the question: just what has Tim Geithner been doing with his time at Treasury?

http://hotair.com/archives/2009/03/22/the-geithner-plan-sti ll-a-contradictory-bag-of-slogans/

http://www.nytimes.com/2009/03/22/us/politics/22regulate.ht ml

The Obama Gong Show

Even before it is officially launched, experts have warned that Treasury Secretary Tim Geithner's expected plan falls far short of what is needed to ease the financial crisis, with one Nobel prize-winning economist calling it an "awful mess".

The plan builds on the outline Mr Geithner provided last month, which was roundly slammed for lacking vital detail.

Leading US economist Paul Krugman said the scheme would potentially socialise losses and privatise any gains in the financial system, leaving taxpayers worse off. "This plan will produce big gains for banks that didn't actually need any help; it will, however, do little to reassure the public about banks that are seriously undercapitalised," he said.

"And I fear that when the plan fails, as it almost surely will, the administration will have shot its bolt: it won't be able to come back to Congress for a plan that might actually work. What an awful mess."

http://www.telegraph.co.uk/finance/financetopics/financialc risis/5029122/Tim-Geithners-new-trillion-dollar-US-plan-is- not-enough-experts-warn.html

Will somebody rid us of the turbulent TOXIC PRIEST at Treasury? The WHOLE WORLD is laughing at us and the economy is no laughing matter.

If Obama can't get it together enough to focus on jobs 1, 2, and 3, i.e., THE ECONOMY, he needs to resign ASAP.

Taft, You Just Don't Get It

I read newspapers from all over the world and the Obama Administration's handling of the economy is a LAUGHINGSTOCK.

You are looking at the trees while the forest is on fire. Go look at my posts on Eileen McCann's article and you MAY get a better understanding. The fact is that we are heading towards a global depression, which is why the Federal Reserve acted on Wednesday. They are desperately trying to jump start inflation. What you may not understand is that NEVER, EVER, EVER in the history of civilization and monetary policy has this one-trick pony been successful.

dollface
I heard his resume on TV the other morning.

He was a graduate student at (Harvard?)
Then went to work as some sort of aide to a mayor . . . and has been in politics since, in one form or another.
He has never held a job in the private sector, nor has he managed anything. Just like Obama and Biden(?) (Biden might have worked as a lawyer for a while, but not long -- he was elected to the senate at 32.)

Taft
This reasonable tone is bit late isn't it? You wanted him, you got him, now own him.

Taft..."not a good thing" indeed 4

Obama’s delay in signing the stimulus is particularly ironic in light of the fact that Republicans had begged that the public be given more time to learn what was in the $787 billion bill — before it was passed.

To add to that “irony”, NO MEMBER OF CONGRESS (at least Republicans and admittedly Democrats) HAD EVEN READ THE BILL THEY SIGNED IN TO LAW. THE LARGEST AND COSTLIEST SPENDING BILL EVER AUTHORIZED IN THE HISTORY OF THE UNITED STATES!!

Oh no, the White House and Democrats said. This is emergency legislation, and it must be passed as soon as humanly possible.

Democratic lawmakers worked round the clock to produce a bill — the final copy had handwritten revisions on it — that could be voted on Friday evening. Republican Senators balked at the insane and irresponsible rush to call to a vote a bill that NO ONE had read, but to no avail.

And then, when Senate Democrats knew they didn’t have the 60 votes necessary to move the legislation forward — the ailing Massachusetts Sen. Ted Kennedy had gone to Florida, and Ohio Sen. Sherrod Brown was at home attending a wake for his mother, who had died a few days earlier — Majority Leader Harry Reid took the extraordinary step of extending the vote for hours. The voting period, which normally lasts about 15 minutes, began at 5:30 p.m. Friday and ended only when Brown, his mother’s wake over, flew to Washington to cast his vote at almost 11.

Then Brown immediately flew back to Ohio for his mother’s Saturday funeral.
It was a nearly unprecedented stretch of the rules.

Republicans, knowing they didn’t have the votes to stop the bill and planning to spend the Presidents Day weekend in their home states, had agreed to Reid’s plan ahead of time.

But why was there such a rush, if Obama had no plans to sign it for days?

Go back to “Sunlight Before Signing.”

Good thing? I think not.

Taft..."not a good thing" indeed 3

Both signatures clearly violated Obama’s campaign promise.

Questioned by reporters, White House officials said they were “working out a series of procedures” to handle newly passed legislation. “We’re working through the technicalities of how that happens, and we’ll get a process together,” spokesman Robert Gibbs told the press.

As Gibbs spoke, the massive economic stimulus bill was racing through Congress, and the spokesman stressed that Obama’s campaign pledge specifically exempted “emergency” legislation. “If we get this [stimulus] bill, this would certainly meet the president’s test of emergency legislation,” Gibbs explained. “And if we’re lucky enough to have it pass, we’ll sign it rather quickly.”

That Friday 13th, after House and Senate Democratic leaders moved heaven and earth to pass the massive $787 billion dollar Stealfromus plan, the bill was ready for the president’s signature.

And did President Obama sign it rather quickly?

Not at all.

He was in Chicago partying for the Valentine’s Day holiday, wining and dining his horsey wife, mugging for the cameras and the adoring slobbering sycophant groupies of the MSM.

He also chose not to sign it on Saturday. And not to sign it on Sunday. And he chose not to sign it on Monday. Only on Tuesday, with a big campaign-style event in Denver, would the president finally be ready to put his signature on the bill.

He signs nonemergency legislation in the blink of an eye. And he lets emergency legislation sit for days before lifting his pen.

Taft..."not a good thing" indeed 2

Some have been claiming that these are thoughtless mistakes on the part of the Hussein Obama administration and Democrats in Congress.

I don’t buy it.

•President Obama warned Congress that failure to act immediately on his Stealfromus plan "will turn crisis into a catastrophe and guarantee a longer recession.

•Back during his presidential campaign, Barack Obama promised something he called “Sunlight Before Signing.”

Obama complained that “too often bills are rushed through Congress and to the president before the public has the opportunity to review them.” So he pledged that, as president, he would “not sign any nonemergency bill without giving the American public an opportunity to review and comment on the White House Web site for five days.”

•“Sunlight Before Signing” faded into darkness with the first bill that came across Obama’s desk.

The new president signed the Lily Ledbetter Fair Pay Act two days after it was passed by Congress — and without posting it on the White House Web site. (go to his website to review all the other bold-faced lies he told during his campaign!)

http://www.barackobama.com/issues/ethics/#earmarks

Thoughtless? Not a good thing?

For Obama it’s more about obfuscation rather than sunlight.

•For his second bill, Obama signed an expansion of the State Children's Health Insurance Program, which provides health coverage for low-income children. He signed it on Feb. 4, 2009, just hours after it was finalized in Congress.

•Both signatures clearly violated Obama’s campaign promise.

•“ETHICS-Sunlight Before Signing: Too often bills are rushed through Congress and to the president before the public has the opportunity to review them. As president, Obama will not sign any non-emergency bill without giving the American public an opportunity to review and comment on the White House website for five days.”

Not a good thing? It seems that way to me.

Question:
Does Barney Frank have any experience with banks and other financial institutions besides bouncing checks?

Taft..."not a good thing" indeed 1

Location: CA
Reply # 51
Date: Mar 22, 2009 - 2:02 PM EST Once
I totally acknowledge that this was not a good thing Obama did, and that people should be furious, I am. I obviously don't look at the whole scheme of thing in the same lens as you do though. I don't think he's made a lot of bad mistakes and not all can be called rookie mistakes. One thing, maybe the only positive thing, is he didn't do it secretly. It was put in print and voted on openly in our congress. I still think he could prove to be a fine president in what we all must agree is a very difficult time. You are very good writer, btw. Your posts are excellent."
_____________________________________________

First of all, thank you for you gracious compliments.

I must disagree with you, however, that this wasn't done in secrecy. In fact, had this been done in public, I don't think the Obama administration would be facing the public backlash they seem to be receiving now. Since taking office, and even before, if you'll recall the way his "Office of the President-Elect" handled the disclosure of information concerning the Blagojevich Senate seat solicitations and telephone calls, Barack Obama has been very loathe to have removed, the cloak of secrecy surrounding his actions.

Reasonable critics could make a case that he LIED as his initial response to questions about contact with Blagojevich in that instance, and that he has again LIED about his involvement in writing bonus protection into the, what I call, Stealfromus bill.


CONSTITUTIONAL REQUIREMENT
We need a Constitutional Amendment requiring that every member of Congress and every Federal Judge read the Constitution out loud at the first session of every year and every Congressman or Judge that misses the reading is no longer a Congressman or Judge. Then, at least they couldn't plead ignorance.

Dodd is a Liar, and Should Be Impeached!
I would like to address something I heard on Fox News this morning. These pundits and anylists, even on Fox miss the point. They were talking about people in this country re-engaging because they said not all of us are broke after all. Which is true we all aren't. But we are jaded and scared to re-enter the market which is full of people and companies that are going to cook the books and screw us again a decade from now. The money we invest today will be gone a decade from now. Because, there is not one provion being written in Congress today that addresses the problem. The problem is not that the market and the economy have gone south and needs to be restored, but HOW and WHY it went south. It went bad because of unscrupulous business practices that were pushed and coddled by at least some in Congress and government.(think Carter, Clinton, Dodd, Franks, Pelosi, Reid, Obama, Geithner)and any big labor supporter. We are tired of the bailout. Where is the punisment that will be handed out for the next wave of book cookers(cheaters)? It is a crime is it not to steal? Cooking the books and defrauding shareholders is stealing their money. Where is the accountability for say the UAW and the unions who's budget is non-liquid and never will be. A law should be written that states something like if you are knowingly over budget or have added expenditures in years that you should have been cutting back, or if you cheated and lied in your book keeping then you are out. No money, Seek chapter 11. Go to prison. Seizure of money and assets of executives and corporations who cheated. They have committed a CRIME(S). No punisment has been talked about or theorized. Where are these measures?

taft
I this a Katrina for Obama? Could be. It took a hurricane to undo Bush, and wind storm to undo a democrat president
_______________________________________________

For perhaps the hundreth time...BUSH DID NOT CAUSE KATRINA!!!!

This will not be Obama's Katrina because the left and their lapdogs ,the MSM do not hate Obama....yet. They will defend him until the last dog dies.

The liberals,including the MSN pounded and pounded Bush while never blaming Democrat run N.O. for the aftermath . The blame game was like a mantra for them.

The MSM has not explained what Obama & Co. has done to the country. Until they do his ratings will remain artificially high.

Mind-numb robots must be spoon fed information. They are too busy watching trivia and trash on the boob tube to learn anything important.

Biden 'Gaffe' ? or the Truth

VICE PRESIDENT BIDEN KILLS AT GRIDIRON: “Axelrod really wanted me to do this on teleprompter -- but I told him I’m much better when I wing it. … I know these evenings run long, so I’m going to be brief. Talk about the audacity of hope. … President Obama does send his greetings, though. He can’t be here tonight -- because he’s busy getting ready for Easter. (Whisper) He thinks it’s about him. …

---------------------------

Joe Biden says Barack Obama thinks Easter is about Barack Obama...?

Taft
I urge you to click on Curtal Friar #19 and defend Obama.
I urge all to read that!


Allen...Excellent Points! 2

With Pelosi, Reid, Frank, Dodd, and Rangel...sadly, the inmates are running the asylum...the economy...and the country...into the ground.

Until people realize that it does not serve in their best interests to focus solely on "rich business CEO's, and learn who the real destructive forces are in their lives, I'm afraid that is exactly what will be the result of this administration.

While they are demonstrating on the lawns of AIG executives...they ought to be demonstrating on the steps of the U.S. Capitol building.

Allen...Excellent Points! 1

Location: CA
Reply # 52
Date: Mar 22, 2009 - 2:05 PM EST Focus on Congress
OncealaysaMarine

Obama needs the Congress to get his agenda done.

Congress passed the 82 legislation that brought down the S&Ls
Congress passed the 2000 legislation that allowed the bundling of securities AFTER the S&L crisis
Congress argued as late as 2006 for Freddie and Fannie to have less strict mortgage requirements

These people in Congress have been in office for DECADES Time For a CHANGE."
_____________________________________________

I agree with you. I think is this a HUGE POINT you are making.

I am further inclined to believe that these career Democrat politicians are showing a desire and an inclination to take advantage of Obama's non-existent leadership skill set.

Obama has NEVER been a leader, or shown the potential for leadership, in all his years in public life (which aren't many).

Barack Hussein Obama has only ever been a follower of one morally challenged mentor after another (Rezko, Wright, Ayers, F.M. Davis, to name a few).

Campaigning, holding fund-raising rallies, and reading prepared speeches from twin-Teleprompters does not provide the training necessary for making crucial executive decisions, especially as the Chief executive of the largest economy in the world.

Seeing his naivety and lack of experience as an opportunity to promote their own personal agendas and pet projects.

The way I see it, it's like putting a rookie numbers runner from East St. Louis in charge of managing the New York City Gambino crime family...

They're prepared to offer him a pat on the back...after he turns around so they can pull the knife out of it.

Zero Accountability...
From Obama to the Congressional Democrats, there's just no accountability. They are completely immunized from their profligate spending and cynical political behavior, making a mockery of our Republican form of government.

Many moderate Democrats and Independents who voted for Obama are having buyers remorse...what went wrong, how can he mismanage this so badly? Succinctly stated, there was nothing in his resume to suggest that he had the executive experience to handle the presidency and nothing whatsoever to suggest that he'd govern as anything other than a liberal. Why is anyone surprised?

See my post, titled "Obama: False Competence or Poor Judgment?"

http://www.clearcommentary.com


About that Crowhaul
Why? How long would it have taken Patton if he said get out.

Thanks for pointing out that millions are now no longer living under Hussein.

How much does freedom for a person cost?

Please explain how a dumb guy like Bush was able to dupe all the people who were setting in the intel. committees and a prior administration that had access to the same intel. THEY VOTED FOR BEFORE THEY VOTED AGAINST. Or is it alright with you that they argue that their position was taken for purely political reasons, as has been argued for Hillary Clinton? They didn't mean to vote that way they did only because the stupid people would have voted them out.


What's really amazing
is that the Republicans want to give a tax break to billionaires.

And on that note, it's kind of funny how these same Republicans have no problem spending 10 billion EACH and EVERY month in Iraq (a country of just 25 million people) but they get enraged at the idea of spending THAT money at home.

The Republican buzz word of the day is 'socialism' and yet socialism exists everywhere in our country already: If you ever attended a PUBLIC school or university, if you've ever checked out a book at a PUBLIC library, if you've ever driven on a PUBLIC highway, if you've ever driven across a bridge, if you've ever played a round on a PUBLIC golf course, if you've ever gone camping in a national forest....you get the point. If you've ever done any of these things, you've benefitted from socialism.

Don't let your fellow Repugs convince you that investing in your own backyard is a bad thing (especially if they're not getting angry at the 10 billion we're still spending each month in Iraq).

Focus on Congress
OncealaysaMarine

Obama needs the Congress to get his agenda done.

Congress passed the 82 legislation that brought down the S&Ls
Congress passed the 2000 legislation that allowed the bundling of securities AFTER the S&L crisis
Congress argued as late as 2006 for Freddie and Fannie to have less strict mortgage requirements

These people in Congress have been in office for DECADES Time For a CHANGE.

Once
I totally acknowledge that this was not a good thing Obama did, and that people should be furious, I am. I obviously don't look at the whole scheme of thing in the same lens as you do though. I don't think he's made a lot of bad mistakes and not all can be called rookie mistakes. One thing, maybe the only positive thing, is he didn't do it secretly. It was put in print and voted on openly in our congress. I still think he could prove to be a fine president in what we all must agree is a very difficult time. You are very good writer, btw. Your posts are excellent.

Taft...You will reap the Whirlwind 2

When will you stop making excuses for the total ignorance, corrupt policies, lying double-dealing hypocrisy and theft of private capital, and the dangerous stupidity being put on display for the entire world to witness with wonderment and awe; all because the American people were willing to ignore all evidence of that there is something seriously flawed in Obama's perspective towards what it is to be an American, and something critically lacking in his character and his radical anti-capitalist, anti-American mentorships.

You are going to face, one way or another, that you will reap what you have sown.

It will probably seem more like a whirlwind, than a wind storm.

Not the disabled
The Obama administration maybe. Oh yeah, the disabled again.

Taft...You will reap the Whirlwind 1

Location: CA
Reply # 1
Date: Mar 22, 2009 - 1:07 PM EST Denise

If this a Katrina for Obama? Could be. It took a hurricane to undo Bush, and wind storm to undo a democrat president."
___________________________________________

President Bush, in his defense, didn't create Hurricane Katrina. And we can keep on attempting to saddle him with what was the responsibility of local and state officials first and foremost, who sat on their hands and did nothing in response to advance warnings of the storm's potential for destruction. Even, in Mayor Nagin's case, going so far as to refuse to use hundreds of idle, parked school buses to transport needy people to safety. This is a strawman.

The "wind storm" you allude to IS being created by an inept and totally incompetent Democrat majority in Congress and the White House who are spending money and flailing about willy-nilly...while not even taking the time necessary to read the tyrannical laws they are arrogantly imposing on business and the American people, before they make these UNREAD BILLS the law of the land.

You are defending the indefensible.

Living in the past and trying to blame past mistakes for the mistakes taking place RIGHT NOW and THIS MINUTE under Obama, Pelosi, and Reid, may make you feel better in your unfortunate choice of a totally unqualified and inept, clueless, and incompetent President and Congress...but when seen for what it really is...it's a weak attempt at cover for the most inadequate and corrupt individuals who ever presided over as much as a dog fight.

Allen
And mock the disabled? I don't know how that would pan out.

ROY
Read the Telegraph and Daily Mail -- the articles were either today or yesterday. The comments of the readers are more interesting than are the articles. Few readers have anything good to say about the Obama administration and current congress. The UK newspapers have a better handle on our government than does our own media -- but then they have for many years.

One limey might have coined a new nickname for the president -- at least I never seen it before: "OPROMPTA" -- referring to the president's use of the teleprompter.

And, I never thought I'd see the day that Frank Rioh would critize a liberal president, but he did -- and he did it in the NYT. (Note that I said "liberal" and not "democrat." Not every democrat is a liberal.)

Taft/Roy
Will this mean that the Prime Minister will appear with Benny Hill?

Roy
Sure there are plenty of journalist that will bash America, but remember they have plenty of problems themselves and the Brown administration is very unpopular.

Denise
Bush didn't stop any bonuses from his Lehman Brothers bailout either. Republicans would have had a fit if he had tried to micro manage a companies internal workings.

As for the NY Times, remember that was the paper Cheyne fed fake information to, anonymously, on Saturday and on Sunday went on to say, see, even the NY Times backs up my contentions on WMD. They haven't reformed yet.

"(1) The New York Times Public Editor, Clark Hoyt, has a column today on a topic I've written about more times than I can count: that the NYT routinely grants anonymity without any justification whatsoever and, more notably, does so in flagrant violation of its own policy on anonymous sources. "

I this a Katrina for Obama? Could be. It took a hurricane to undo Bush, and wind storm to undo a democrat president.

Frank Rich Slams Obama
A CHARMING visit with Jay Leno won’t fix it. A 90 percent tax on bankers’ bonuses won’t fix it. Firing Timothy Geithner won’t fix it. Unless and until Barack Obama addresses the full depth of Americans’ anger with his full arsenal of policy smarts and political gifts, his presidency and, worse, our economy will be paralyzed. It would be foolish to dismiss as hyperbole the stark warning delivered by Paulette Altmaier of Cupertino, Calif., in a letter to the editor published by The Times last week: “President Obama may not realize it yet, but his Katrina moment has arrived.”

Six weeks ago I wrote in this space that the country’s surge of populist rage could devour the president’s best-laid plans, including the essential Act II of the bank rescue, if he didn’t get in front of it. The occasion then was the Tom Daschle firestorm. The White House seemed utterly blindsided by the public’s revulsion at the moneyed insiders’ culture illuminated by Daschle’s post-Senate career. Yet last week’s events suggest that the administration learned nothing from that brush with disaster.

http://www.nytimes.com/2009/03/22/opinion/22rich.html?_r=1& ref=opinion

Who Fought Regulations?

Alan Greenspan and Larry Summers, while Clinton's Treasury Secretary.

Since you Liberals want to blame everything on Bush and Conservatives, read the ANYTHING, BUT CONSERVATIVE, New York Times, and WEEP!

http://www.nytimes.com/2008/10/09/business/economy/09greens pan.html

http://www.nytimes.com/2009/03/22/opinion/22rich.html?_r=1& ref=opinion



ATTN OREGON LADY!
You wrote "I read an article in the British press yesterday that described how the Europeans are watching the 3-ring circus we've become with mixed fascination and horror."

Could you please direct me to that article? I would love to read it. Thanks!

sorry DanNV
The fingers new that v was coming.

DavNV Right! Spot on
Let's not ourselves get distracted. Focus on what Congress has done. Keep asking specific questions about their role in it all.

Obama is president for four years Congress has the lower approval ratings. Keep the focus on how Congress continues to mess it up.

They were there in 86 when the S&L bailout occured and seemed to pass legislation to make this crash a certainty. Why?

Why did they allow 100 cents on the dollar payouts? We didn't have time to read the legislation we created is going to get thin.

The Brownshirts are Coming!
Click my name and go to my blog and read about Obama's new brownshirt force.

The time to take action against the founding of this force is now, people.

Make sure to let your elected officials know you're against this new development on Obama's part.

The bonuses mean nothing to Congress
The real reason members of Congress are so exercised by the AIG bonuses is that they became public knowledge. How can a congress, that by law, specifically and willfully included in an amendment to allow them, be upset with compliance to the "letter of the law?" They can't.

AIG it would seem is the equivalent of a "money laundering" operation for the government, the amount of "pass through" money for this organization is staggering.

It would behoove Congress to speak a little softer to the AIG money grubbers I suspect, because someone in that organization knows the details of "where the money went." And that, more than anything, is probably why Congress in such a lather, they need to keep a lid on AIG.

David
Very good point! On the other hand, should the factory workers at GM have been "demonized"?

AIG and Congress
One stands in awe of the incredible gall of the legislators demonizing the RECIPIENTS of the bonuses at AIG.

When the team does poorly the Coach is fired, not the team. If anyone should be blamed it is the executives who awarded the bonuses or maybe the legislators who authorized them in their bloated bill.

Is the Majority Insane?

"The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane" - Marcus Aurelius

Obama Socialized Psychopath or Sociopath

Most American Citizens wonder why Barack Obama has selected and placed, weak and incompetent people to positions of power.

The most obvious are Joe Biden and Tim Geithner.

Both of these men crave influence, respect, and power, but they lack the necessary competencies to achieve their desires.

These incompetent 'Morons' do NOT understand, that Barack Obama has chosen them specifically because they are incompetent and must depend on Barack Obama for their positions.

The consequent dependency, on this Sociopath - Barack Obama - makes them permanent manipulatees, expendable pawns to absorb the harassment that should be directed towards Barack Obama.

Barack Obama knows he is unable to expound his thoughts without a Teleprompter, so he picks a human 'Gaffe Machine' like Joe Biden who is even worse than he, that would replace him should he fail.

Barack Obama wants the American Economic System destroyed, so that he can replace Capitalism with Socialism, so he picks an absolutely incompetent 'Rube' Tim Geithner, to head up the Treasury and then announces great confidence in Geithner.

It is no accident that both of these 'Rubes' are white.


ropati
I really agree with your fist statement. Are Americans so lazy they can't bother to read some news to keep moderately abreast of who they vote for?

Why did they not give gaurantees
The question was asked of the former head of AIG.

The government paid top dollar to AIG. AIG funneled the CASH to foriegn banks and Bear Stearns (didn't Bear receive money from the government also?)

AIG paid top dollar to cover the foriegn banks. Makes one wonder if there isn't an IMPORTANT investment being protected, say, a lobbiest's slush fund.

More of the same
I still don't understand why Americans, who gave Congress a 9% rating prior to the election, decided to return the same fools to office. Did they think more time in office would raise their competence?

I still don't understand why the same people who want AIG to return money Congress gave them, are not interested in seeing Obama return campaign money AIG gave him.

I say, "Where's the birth certificate, Barry?" If you can't prove your citizenship, hit the road.

Windy City
But, aren't "Chicago" deals done like the Blago way, secretly, and not as Chapman here points out, put on print for all of congress to see?

Apparently they didn't read the others
1982 Bill to loosen regulations on mortgages result 1986 S&L crash
2000 Commodittees legislation that allowed the bundling of loans result 2008 banking collapse

How many of our brilliant members of Congress have been in office since 1986

Steny Hoyer, Chris Dodd, Nancy Pelosi, Charles Schumer, Ted Kennedy, Joe Biden, Maxine Waters, Diane Fienstien and the list goes on.

Guess their staffs failed to remind them that their legislation allowed for this crash though they were there in 86 to fix the system.

Chicago way comes to DC
Read John Kass of the Chicago Tribune. It's very funny how Obama is playing the stunned observer in all of this. It's obvious the Democrats have made typical Chicago deals with AIG.
Welcome to Chicago sleaze America.

Obama Groupies Rule NJ and PA
Renny--N.J. You're calling for a rally against Obama and the Democrats in Philadelphia! That's like calling for 90 degrees temperature in Nome, Alaska, on December 31st. I read there was a big rally in Orlando and I can see huge rallies in Texas and Georgia. But fergitaboutit in Pennsylvania and New Jersey!

The fool Democrats in those states would blithely skip over a cliff if Obama told them to.

In fact, they're doing that, now bringing to mind that commercial, "I've fallen and I can't get up." NJ and PA have drunk the kool-aid and they're a lost cause!

I don't know whther to be amused ...
...or amazed that 535 elected officials, most of them lawyers, and few of them having ever even received a private payroll check let alone ever having written one, are upon taking up residence in Georgetown or Glover Park suddenly become struck with the acumen and expertise to manage and run every business known to man. Airlines, trucking, investments, mortgage and banking, manufacturing, energy extraction and refinement, you name it- they are suddenly experts and will not hesitate in the slightest to meddle in them. Don't like it? They'll haul you up before one of their committees and flay you to ribbons on national television, subjecting you to heaps of personal abuse and scorn, populist pandering done to score re-election points so they can continue to be career fat, rich, egotistic elitist no-nothings gorging at the public trough at out expense. Citizen legislature? My patoot. The founders are probably weeping with the heaviest of sorrows at this sorry spectacle.

Congress and stupidity

The term congress should be changed to The Stupid. This term fits their inability to understand they should stand first in line for causing our current economic problems.
Their current activities show that the majority never read any bill recently passed. The Stupid are very successful being Stupid.
The Stupid majority don't comprehend economics but, The Stupid understand and practice lying very, very well.
The Stupid don't understand they cannot tax at 90% those who received $ under a legal contract guided by the tax cheat geitner.Again, THE STUPID step up to the plate a miss.
THE STUPID don't understand you cannot tax those you don't like. So, THE STUPID have opened up the possibility that 100% who receive bonuses will be taxed at 90%.

We are now living in the Twilight Zone
Does anyone else remember the science Fiction show the Twilight Zone. It sure feels like we are, our country, like a car driven by the crack smoking teenager is being run off a cliff. Cheered on by a bunch of Insane Liberals.

I'm not so sure they didn't all know
They want a reason to attack private business and turn the US into the commy state of a degenerate Sweden.

Take to the streets and join a tea party demonstration, otherwise ACORN's mobs will rule the streets.

Send a teabag to the Big O
Send one for every member of the family.

Send them to Gov. Corzine in NJ who plans to eliminate real estate taxes as deductions and withhold homeowners' rebates.

These *progressives* want to ruin the middle class, a la the Russ. Rev. You have to break a lot of eggs to make a commie omlette (Leon Trotsky).

Go to Ind. Mall (while we still have some independence left) on April 18 in Phila. and bring a teapot. If we don't take to the streets, the streets will be left to ACORN and O's *domestic vol. corps.*

Nero Reference
AynRandLives,

The nero reference is so fitting. The man enjoys playing president, he could care less about doing his job.

O is a rotten failure; ACORN is his
*domestic vol. corps* that he can unleash on anything--you and me. His *stimulus* gives ACORN a BILLION to corrupt the census and further voter registrations.

While the Senate was constructing the $787 billion stimulus, Senator Christopher Dodd (D-Conn) specifically added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009” — which exempts the very AIG bonuses Dodd and others are now seeking to tax.

The amendment made it into the final version of the bill, and is law. Separately, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org.

One of AIG Financial Products’ largest offices is based in Connecticut. Dodd now screams that he is "shocked, just shocked" by the bonuses. He is the one who put this system into place and protected his buddies in the first place.


Where is the OUTRAGE
THAT the Democrat led Congress allowed AIG to send AMERICAN TAX DOLLARS to foreign banks?..Are we to prop up the whole world during this recession?..People should be marching on Washington and emailing/calling their congress person complaining instead of picketing AIG and having the ACORN People picketing in front of AIG workers homes!!..Those people in the Leno audience should have been booing this flunky instead of clapping ..but then again he was in California..Home of the Fruits and NUTS elitist

Mob Rule
Obama on Leno: I was stunned to hear of them.
Leno: How about your bowling score?
Obama: Yeah, like Special Olympics or something.
Crowd: Woo Hoo!

Meanwhile, back at the ranch: ACORN marches on AIG employees. Obama: fiddles while America burns.

328 Little Hitlers in the House
are determined to set a deadly precedent. WHEN will they decide you make too much or have too big a house or too many cars or too many luxuries? When will they try to "tax that back" from you? WILL you protest? Will (illegally) armed IRS goons kick in your door at 3am and be "forced to shoot you as you 'resist'"?

Will they make examples of a few families in Orange Country, Westchester County, Fairfield County (already there)?

-Ray
NRA Life Member
Soli Deo Gloria!!

John #4
No it is not to early, but what i would like to see is huge billboards demanding their impeachment.....all of those involved.

What about congress' "bonus"?
I don't understand why no one is making a fuss about congress' "bonus" of over $10,000 million (used specifical because it shows how much $10 billion really is) in earmarks.

Congress can't get personal bonuses but earmarks are certainly the next best thing. You would think in these times they could pass a stimulus package without the usual effort to pander to their special interests in their home states.

I think some people have been drinking the Koolaid. Fussing about $165 million keeps the spotlight off the waste of $10,000 million

Outrageous- you betcha!
Our turncoat congress postures for the cameras while calling for the names of individual citizens to throw to the mobs. And a known leftist criminal organization (ACORN) arranges bus tours so professional agitators can camp on the doorsteps of assumed miscreants- we really don't have all the facts yet- and cause civil disruption. Now that same congress is using the outrage to consider bills allowing congress to dictate executive compensation at all corporations- not just those accepting TARP money. And all this time our Commander-in-Thief continues to push a budget and policies that will bankrupt the country. I read an article in the British press yesterday that described how the Europeans are watching the 3-ring circus we've become with mixed fascination and horror. They're right. As long as the clowns are allowed to run the show we're in trouble.

John
Incredible as it may seem, most voters have no idea of what is going on, really. If they even know about the billions to bail out foreign banks, or the millions in bonuses, they don't know about Dodd, Geithner and Dumbo's direct connection and written decision to make cettqain the bonuses were paid. It is by no means cettain that enough people know what is going on to throw these scoudrels out. The economic crunch will get their attention, but Dumbo has the pulpit, the MSM fawns all over his lies. All Joe sixpack has from the media on this is Dumbo up there spouting "outrage" and stating firmly that no one in my crew had anything to do with this. Where are the headlines that Dodd DID insert the enabling paragraph. And then, that Dodd said he was directed to do it? The hope is that a few years of this nincompoopery will finally get through to the idiots whose vote counts just as much as a reasonable person's.

Seriously, Is It Too Early?
I mean, really... Is it too early to go around telling everyone, "I told you so!"

I didn't vote for these Democratic clowns who are now ruining our country and I want that fact to be known to all my friends, family, and enemies alike.

If the activists
riot & cause harm or destruction to property of AIG employees, shouldn't Obama be charged with inciting a riot?

Was the bus load of activists really ACORN thugs(brown shirts to be) sent by Obama to exercise his "i am the rule" power?

Congress, are any of you patriotic Americans?

WE THE PEOPLE NEED TO KNOW!

This is an Outrage!!!

"Congress is outraged. Really, really outraged. Unbelievably, incredibly outraged. And there are certainly grounds for anger...

...shocked to find AIG doing what it was allowed to do."
_________________________________________

Congressional Democrats:
"This is an outrage! We'll pass a new tax to get the taxpayers' money back if we have to! I want the names of all those executives who received bonuses to be released to the American public! This is an outrage being perpetrated upon the American public!!"

Conservative Reporter:
"But Mr. and Ms. Congressperson the provision for the bonuses to be paid out is in the President's "Stealfromus" bill. A bill which you signed into law."

Congressional Democrat:
"Why...ah...er...ah...This is an outrage against the American people!! We will seize these bonuses to return to the American..." taxpayers. This is outrageous..."

Conservative Reporter:
"But Mr/Ms Democrat Congressperson? Didn't you sign the President's Stealfromus bill?"

Congressional Democrat:
"Yes...but..ah..er...This is an outrage!!...If I'd known this was going to happen, I never would have signed it!!"

Conservative Reporter:
"Well how did you not know it was in the bill?"

Congressional Democrat:
"Why...er...ah...I...er...I never read it..."

Meanwhile: Silly libtard protestors marching on the lawns of Capitol Hill...er...ah...Strike that!...er...ah...AIG executives homes.

J-10

I agree. Government is 100$ responsible for this mess.

Liberals want more government.

What's scary
is there is a 99 9/10% chance that all the power players in congress will keep their seats until they die of old age, and there's not a dam* thing we voters can do about it.

Government is 100% responsible for this mess.

Congressmen and Senators:
Do you have any idea how full of your bad selves you are?

AIG exposes the absurdity of Washington
Chris Dodd and Tim Geithner put the AIG bonus payments in the stimulus bill that no one is allowed to read before it must be ratified.

Obama who urges the immediate passage of the bill doesn't realize that the bonus is in the stimulus bill.

Obama,needing a diversion from reality, creates a firestorm over the bonuses that HIS PEOPLE installed in the stimulus bill.

Obama's reaction was to go the community organizing route by publicly denouncing the bonuses, not realizing that HE WAS ULTIMATELY RESPONSIBLe for them.

It's obvious that his lack of executive experience (compared to Sarah Palin for example)or substantive legislative accomplishments (present votes in IL senate and 2 year senate career campaigning for president) shows that he will be a puppet of his handlers/teleprompter for the next 4 years.

Regardless of political ideology, the executive branch lacks execution.
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