Posted on 03/17/2009 3:29:02 PM PDT by 2ndDivisionVet
In the middle of decrying the misdeeds of the financial firm AIG, President Barack Obama cracked a joke. "Excuse me," he said Monday, after coughing into the microphone. "I am choked up with anger here." There were laughs all around the gilded East Room of the White House because he didn't sound angry at all.
The laughter, of course, did not fit the occasion, the latest in a seemingly endless stream of public events at which Washington's political leaders work themselves into high dudgeon over the sins of financial wizards who, we are told over and over again, have messed up the world for everyone else. But then, you can act outraged about the same thing only so many times before it all starts to sound stale. These spectacles, the public rhetorical floggings, have become teleplays, as predictable as a daytime soap opera, as comforting as a wet rock.
As the event wore on, even Obama did not seem that into it, a surprising misfire for a politician who has long excelled at striking the right tone at public appearances. He was almost grinning as he described the "recklessness and greed" of the traders in AIG's financial-products division, a reckless band of wealthy incompetents who made bets they could not pay for, leaving the American taxpayer on the hook for as much as $173 billion in emergency funds — an enormous sum that works out to about $600 for every man, woman and child in America. "How do they justify this outrage?" Obama asked rhetorically, with only the slightest tinge of outrage in his own voice.
(Excerpt) Read more at time.com ...
Why is everyone so angry at AIG? Our Gov’t is the one who gave them our money. All in exchange for hefty campaign contributions!
I'd bet 160 mill compared to the other bonus's give to fed employees is minor - its just public and they want you to look there and not at all the rest of it.
It is rank amateur hour in D.C. this year. Course they do have all that Clinton experience.
bttt
This is just an aversion from the REAL problems. Keep your eyes on the ball, these people are very dangerous to this country.
Its like that old Trial Lawyer Joke:
When you have the Law on your side BANG ON THE LAW!
When you have the Evidence on your side, BANG ON THE EVIDENCE!
When you don't have the Law or the Evidence on your side, BANG ON THE TABLE!
They are banging loud as they can on that table hoping we don't notice!
Why is everyone so angry at welfare recipients driving luxury cars? Our Gov’t is the one who gave them our money.
Dems get money from very department of government
You are so right
Take a look at this.
http://freerepublic.com/focus/f-news/2207793/posts
This whole thing seems planned from way back. Look at the list of sponsors. This didn’t just spring up 2 days ago ... this has been in the works a long time.
We’re being played.
And he signed the Stimulus Bill that SPECIFICALLY gives AIG the CLEAR RIGHT to pay those bonuses. See this, it was posted on FR today (The comments are not mine, but from the original article):
Obama’s Stimulus Bill Explicitly Grants AIG the Legal Right to Hand Out Unlimited Bonuses
HIGH IMPACT - Thanks to our stimulus spending bill search engine and browser, we discovered that Obama granted AIG a free legal pass to give high bonuses because of the following stipulation in Obama’s stimulus bill he personally orchestrated and signed into law:
From page H1412 of the Final Stimulus Bill, “SEC. 111. EXECUTIVE COMPENSATION AND CORPORATE GOVERNANCE: “(iii) The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a writte employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary.”
This amendment provides an exception for contractually obligated bonuses agreed on before Feb. 11, 2009, which exempts the very AIG bonuses Obama is condemning every single chance he gets. The amendment is in the final version and is law.
Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org — According to the Wall Street Journal, Sen. Dodd placed this section into the final stimulus bill, making him responsible, along with Obama, for AIG receiving these bonuses.
The stimulus bill should have nothing to do with executive compensation. However, woven within the stimulus bill are laws dealing with executive bonuses. Other pork legislation, such as health care mandates, were in the bill to ’stimulate’ the economy.
Sometimes I wonder if Obama is up to the job. Frankly, and I’m treading on dangerous ground here, he reminds me of the many “Affirmative Action” hires I ran into during my 30 years working for the federal government (Department of Defense). They looked good, dressed well, went to all the right training courses, but for the most part, they couldn’t handle their jobs. They actually acted as if looking good, dressing well and ACTING professional WAS their job. I think we may have our first affirmative action president.
He’s getting called on a lot of chits to push things through (pork, Global Warming, health care etc.) and is getting spread pretty thin and is not up for the job. Indeed, I would bet he wishes he was just a lazy Senator again where he could just fart around, smoke his Kools without the world watching and feel important without any accountability. Having AF1/Marine One and partying in the White House is neat but will grow old. Oh, he also has a live in mother in law with Michelle as well.
Not even 60 days yet. Methinks he'll be taking lots of vacations just to stay sane.
Yah that was my take. He’s in over his head if Time is after him.
Somehow I can’t get excited about a stinking $165 million in bonuses, when we’re looking at $170 billion in bailouts to AIG alone- not to mention trillions in bailouts to other entities.
At least with the $165 million, its staying in America- that is definitely not the case with the $170 billion- a much more significant amount.
Open Secrets
Obama knows not to bite the hand that feeds him, all $101,000 worth.
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