Rocker Chic wrote:What I don't understand is that the government put Liddy in the CEO position, and I'm pretty sure that the government went over all they could with a fine-toothed comb (and knew about the contracts regarding the retainer bonuses that were in place), yet they chose to do nothing and went ahead with taking over 80% the company anyway. Had the government used their freakin' heads in September......
This is an easy one to field.
If you read the bailout document that was signed by our current president (when he was a junior senator from the most corrupt state in the union), it *had* language in it specific to these bonuses.
What this is, is a case of political capital bought and paid for and utilized when it was most advantageous. Obama, Dodd, Frank, Pelosi and Reid (the dirtiest 5) have parlayed this into a way to enact a retroactive tax on bonuses.
If someone thinks that the tax on AIG bonuses is where this will stop, they're naive. This will morph into a retroactive tax on all bonuses, irrespective of tarp money being used on the paying company. Obama and his enablers are more than happy to come to action for all of this outrage over the bonuses. They planned for it.
The signed a document in October that spelled it out....feigned outrage last week, when someone in the enabling press wrote the story (with promises of white house splendor to be lavished at a date to be named later, no doubt)...and they are now utilizing the outrage of the public too dumb to know the difference....to ramrod this retroactive tax through congress (which will undoubtedly have earmarked proposals a mile long which further limit our economic freedoms)....
It was too much for me to watch last week. I'm probably one of the few people out there that read both drafts of the economic recovery act of 2008 from cover to cover....and these bonuses jumped off the page like a fucking cannon. Yet...now people are outraged.
I guess Rahm Emanuel wasn't lying. Never pass up a crissis you can take advantage of....
And Obama made it to office promising to end washington politics as usual. I guess some people are easily fooled....