Dear Same Old New Government

[Gee-Perwin]

The AIG thing is a joke, but be sure you're pointing your fingers at the people who gave them the money to play with. We should be outraged at our government for giving this money away.

BTW, Chriss Dodd of CT is the one who put the loophole in the wording of the law (that not one of hundreds of senators and congressman noticed) that allowed this to be paid out.

No one read it. Most of the people didn't even have the paperwork in hand until a couple hours before voting. That's how business is done these days, folks (Patriot Act anyone?). Listen to this interview for an idea of how bad it was.

Of course the biggest problem right now is the Fed. While everyone is upset over a few million in bonus money, the Fed is busy at work destroying our dollar.

 

[Mike Ventrella]

After how much everyone compared the Obama administration to that of FDR, I would have thought they would read up on their history a bit more. Keynsian Economic Theory - FDR didn't embrace it wholeheartedly. Yes, he pumped money into the economy. But what he did with it was create jobs for the unemployed masses so they were working directly for THE GOVERNMENT. So don't bail out big companies to save jobs. Cut out the middleman and create jobs yourself.

Of course, there was the whole WWII-ending-the-depression thing, so maybe it isn't a fair comparison. But what about the bailout under the Bush administration? That's pretty recent history, and a pretty recent failure.

This rant has been brought to you by Amelia.

WWII ending the depression was still the same thing: The government hiring people and putting them to work. Those critics who say "Spending money didn't get us out of the depression -- WWII did" don't understand that the reason WWII did is because we spent money!! We could have built all those ships and planes and just had them sit there and have the same result.

(Now, admittedly, that's a simple version but true -- other things helped us get out of the depression, such as having the rest of the world's economy completely destroyed by the war)

 

[FrankManic]

As I understand it the government was not made aware of the contracts until recently, and is now working to find ways to either recover the money or limit the amount that is paid out. Personally, I'd love to see the heads of AIG ... roll in a basket under the Guillotine, but the government does have to follow legal means to try to deal with this. I'm willing to give Obama and the new administration their four years, provided they don't do anything truly alarming. I mean, compared to the hijinks Bush got up too, like turning Iraq into Haliburton's playground and then having them lose millions in cash destined to pay for improvements, this is small beans.

 

[Angrydurf]

On AIG: Contractually guarenteed "bonuses" aren't bonuses they're payroll that is being redefined (I imagine as a tax shelter for the company or employees)

On the bailout: it was a mistake under bush and under obama however something did have to be done. Strait keyensian economics woudl say wall street has to pay for its failures and collapse thats the presure to be conservative in investing. However, that theory ignores the very real Human cost of such a collapse, jobloss, homeloss, and dire economic repercussions for the whole world. then War and crime etc. I said under the first bailout and I'll say it again, Pay off these "toxic debts" with the bailout. Stop the forclosures that continue to depress the housing markets, keep people housed and give them a chance. The banks balance sheets suddenly look better housing prices begin to stabalize. Toss in a healthy serving of banking regulations to stop this kind of BS and we have charted a road to recovery.

On stimulus: handing out extra on the tax refund won't stimulate anything in this kind of economy when people get extra in this economey they hold onto it not spend it. That stimulates nothing, remove some of the worries that keep people form spending (forclosure, health care, unemployment) How? Government spending focused on needed infrastructure, nationally guarenteed access to health care, renegotiate bad mortgages. Ah but where to get the money? I'm gonna go ahead and say it Raise taxes especially on the top 10%, yea follow that "european socialism" cus you know what? Untill our reckless speculation tanked everything thye were doing just fine and are doing better than us in many ways right now.

Will any of this happen? Not likely Obama is a great talking head but not real change. He's trying to maintain bipartisanship and extend an olive branch to a bitter group of republicans who have shown and said over and over they have no interest in bipartisanship. He doesn't want to appear to be an "eliteist" (read educated), at least he's taking care of the worst of the bush era moral outrages if not economic ones.

 

[Dargon]

Dear American Tax Payers,

It has come to our attention that some of you may not be happy with the way things are going!, Were fine with that because that won't change anything. Let me start by saying that we wouldn't be in this mess if it weren't for a few tremendously dumb desicion making from the last Admin.

Now I know alot of you are really pissed about AIG company bonuses. We know you don't want your money going into the pockets of big time Excutives and such, so we propose that a tax of 90% will placed on said bonuses. Unfortunatley we also know that the contracts of AIG Exec's constitute a Bonus. But Rest assure, that the 90% Tax on the Bonuses will be in place.

That being said when the money that comes from the tax back into the System, we will have to send you money! that's right folks Stimulas Checks $100,000 each!! Yeeahh I can here you yelling for happiness.

Those Checks will be issued to you shortly, but we have a few hurdles still to clear, First we must take the money we recieve from the tax on the Bonus and use those monies for the Bail out of the Other Giants Like GM. Now I know what you are saying, but to keep a America Moving on the right path to economic recovery, we need American Products! and what better product then a 12-50 thousand dollar car from an American Company!!

Now your Saying, but we can't afford that! so go down to Your favorite American bank and take out a loan, We the Goverment of the United States of America, Don't Care if you Can pay it back or not!!!!, Heres the funny thing NEITHER DO THEY!!!, But don't worry, nothing could possibly go wrong with that. You give banks what you can, and then ignore the Tow Truck in your driveway taking your car. And if you own a fire place those Foreclosure notices will make great kindling.

As for the Stimulas folks, The Number crunching going on in the Treasury.

Bail: $650 Billion +
National Debt: $75 Trillion +
Misc: $780 million +

So we are sending you this letter about the STIMULAS!, Please folks if everyone in American can please write your congressman, senator, and president a check for $100 dollars each, it will really help us put a dent and get Our stimulas plan going, then maybe we can start helping the Average everyday citizens, and GM and AIG continue not to care!!

Thank you for you support,

CARING, RESPECTING, AND PLEADING FOR THE PEOPLE

Pleas Make your Checks Payable and Send to:
THE CRAPP FUND
East Capitol Street, NE and 1st Street, NE
Washington, DC 20002

 

[James Trotta]

After reading this: http://www.nytimes.com/2009/03/25/opini ... antis.html

I find I'm not so angry at the AIG managers. The top executives obviously screwed up royally, but this dude resigning does a good job making it sound like he's getting the pay he was promised in exchange for a job well done.