Posted on 03/22/2009 6:07:48 PM PDT by DrGop0821
Well Halle-freaking-lujah! At least Obama is smart enough to realize that HR 1586 -- legislation passed this week by the House to tax AIG bonuses at 90% -- is unconstitutional!
It's a miracle! Obama and I agree on something! I called this unconstitutional the day it passed!
Hopefully this bill dies in the Senate and if not, let Obama live up to his words and veto this stupidity and arrogance.
Seriously, I'm surprised and impressed that Obama said this.
From 60 Minutes/CBS News:
"I mean you're a constitutional law professor," Kroft remarked. "You think this bill's constitutional?"
"Well, I think that as a general proposition, you don't wanna be passing laws that are just targeting a handful of individuals. You wanna pass laws that have some broad applicability. And as a general proposition, I think you certainly don't wanna use the tax code to punish people," the president replied. "I think that you've got an pretty egregious situation here that people are understandably upset about. And so let's see if there are ways of doing this that are both legal, that are constitutional, that upholds our basic principles of fairness, but don't hamper us from getting the banking system back on track."
"You've got a piece of legislation that could affect tens of thousands of people. Some of these people probably had nothing to do with the financial crisis. And some of them probably deserve the bonuses that they got," Kroft said. "I mean is that fair?"
"Well, that's why we're gonna have to take a look at this legislation carefully. Clearly, the AIG folks gettin' those bonuses didn't make sense. And one of the things that I have to do is to communicate to Wall Street that, given the current crisis that we're in, they can't expect help from taxpayers but they enjoy all the benefits that they enjoyed before the crisis happened. You get a sense that, in some institutions, that has not sunk in; that you can't go back to the old way of doing business, certainly not on the taxpayers' dime," Obama said. "Now the flip side is that Main Street has to understand, unless we get these banks moving again, then we can't get this economy to recover. And we don't wanna cut off our nose to spite our face."
e-e magin that! Unconstitutional.
it was a freakin’ yes or no question and this idiot prattles on and on. what a loser.
and........I bet he doesn’t veto it. Keep in mind he’s a liar, a fraud and a Marxist, albeit not necessarily in that order
Another smoke screen.
Bait and switch.
The real story is the money to Goldman Sachs and overseas banks, and controlling all executive pay and bonuses.
Indeed Bait and Switch..
I give cbs and 60 minutes for a great transcript. The guy does speak like that, but you won’t usually see it appear that way in a news article.
How about:
“Clearly, the AIG folks gettin’ those bonuses didn’t make sense.”
Don't think for a minute that's going to stop him from signing it.Hell,he wipes his ass with the constitution.They'll just rearrange the words a little bit,and he'll put his chicken scratch on it at 3:00 AM while everyone's asleep.
And they said Bush talked like an idiot.
This guy will give us all the campaign commercials we need for 2012.
For the record, it’s the same with the Idiot Robert Gibbs.
You ever watch his press conferences and then see how it’s translated on WhiteHouse.gov?
It’s like two totally different quotes.
he’s trying to vote present.
The way I understand this, is, that he will target every single company that gives bonuses. AIG won't be left off the hook, more victims will be added to the list.
And yet, the Federal government doesn't understand this either.
Local and state officials across the US have taken paycuts, hiring freezes and layoffs. What has the Federal government done? NOTHING!
......................The real story is the money to Goldman Sachs and overseas banks................
????And your problem is exactly what????
AIG is an insurance company. Fannie Mae and Freddie Mac, among others, packaged up all these horseshit mortgages, sold them throughout the world as good investments with great credit ratings.
US Banks, foreign banks, Goldman, and many others, decided to invest in these portfolios, but, prudently only after paying for insurance - thru AIG - if the securities went south. That was the most prudent thing for the banks etc. to do, and normal business practice.
So the garbage that FM&FM underwrote went down the crapper, and AIG had to make good on their insurance policies; to US banks, Foreign banks; and other investment houses that had purchased insurance from AIG.
AIG paid their policy holders. Now AIG should go after FM&FM, Countrywide, and all the other scam junk paper artists for fraud, for packaging up garbage, wafting perfume over it, and passing it off around the world as a worthy US backed security.
Oh, wait a moment!
There is no FM or FM, or Countrywide, or any of those other mortgage boiler rooms.
Forget about that lawsuit, ‘cause the defendants don’t exist anymore!
Why is this a greedy AIG problem? Ask Dodd, ask Frank, ask Raines, ask Gorelick, ask Waters, ask Clinton, ask Bush!
...try to act surprised when he approves it...
Thank you to the Democrats who run Goldman-Sachs!
Looks like Obama may triangulate the Democrats in Congress.
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