Remember, the GOP got savaged for voting against the bailout
With all the news about about the AIG bonuses, there are a couple of things worth remembering. First, the GOP voted against the stimulus. Why? Because it won’t stimulate anything and the Democrats decided to rush it through without letting anyone read it. This is what happens when you write legislation in secret then rush it through. Second, will federal prosecutors indict Chris Dodd? Dodd | Read More »
That’ll teach those AIG punks!
Take that! Instead of giving them$30,000,000,000 we’ll “only” fork over free taxpayer money of $29,835,000,000. Oh baby! That’ll leave a mark! In a letter to congressmen, Timothy Geithner said $165m (£116m) would be taken from $30bn the firm is due to get as part of its government bail-out.
Obama Received a $101,332 Bonus from AIG
Senator Barack Obama received a $101,332 bonus from American International Group in the form of political contributions according to Opensecrets.org. The two biggest Congressional recipients of bonuses from the A.I.G. are – Senators Chris Dodd and Senator Barack Obama. The A.I.G. Financial Products affiliate of A.I.G. gave out $136,928, the most of any AIG affiliate, in the 2008 cycle. I would note that A.I.G.’s financial | Read More »
A Few Important Clarifications About AIG
We’ve been watching the President of the United States hyperventilate in shock over the fact that publicly-owned financial companies pay bonuses even when they lose money. It’s really hard not to get the impression that Obama is playing to the galleries here. He and David Axelrod were probably blindsided by the public furor that this news kicked up, even though the Administration was well aware | Read More »
The arrogance of our President
I am sure that you all caught the bailout fiasco, AIG has paid millions in bonuses to its employs and the self righteous governing class is outraged. Well I am outraged as well but for so many different reason’s. How dare the POTUS tell a private company that they can not pay bonuses that are due its employee’s, the president has no authority make those | Read More »
A Conspiracy Theory or: Buffett Miscalculates or: Am I now a Populist?
I must admit that I do not share the same amount of deference and admiration for Warren Buffett as, well, everyone else on the planet. He seems to me to be a Solari, fabulously rich but relying on the Mozarts of the companies he invests in for his fortune. At other times he circles above dying prey, waiting to negotiate / extort a deal that no | Read More »
How We Can Correct AIG Without the Government
People are mad at AIG. This week it became public that despite billions of dollars in bailout money being paid to AIG to keep them alive due to poor decisions, they are paying out millions in bonuses. Personally, I am not buying the indignation fro the Obama Administration. To me it sounds like they have known for a while that this was coming, but did | Read More »
AIG Bonuses – The Pitiful Republican Response
I had a little fun this weekend starting the ball rolling on how the Democrats would use the normal double standard in whining about the AIG executive bonuses. But to be serious for a change, I’m bitterly disappointed in the reactions of the Republicans. They completely blew a golden opportunity here. Virtually every Republican echoed the comments of Democrats: “appalling”, “outrageous”, etc. Chuck Grassley even | Read More »
Mitt Romney on AIG bonuses – right and wrong
Cross posted to The Political Class. Over at NRO’s The Corner former Massachusetts Governor Mitt Romney weighs in on the AIG bonuses: The news that employees at AIG are on the verge of being rewarded $165 million in bonuses at a time when the insurance giant is on the verge of collapse is rightly shocking to taxpayers who have pumped billions into the company to | Read More »
The death of non-CEO/AIG moral outrage (even if its not about sex)
Or, the continuing revenge of the eggheads for the conviction of Alger Hiss (pictured) The primary responsibility for the current economic crisis lies with elected Democrats in the White House in the late 90s and in Congress in the late 90s through today that coerced lenders to make mortgage loans to borrowers that couldn’t afford the loans and then guaranteed the loans with taxpayer dollars. | Read More »
G. K. Chesterton, demonstrating his genius at the art of paradox, once referred to optimism as “morbid.” Since the moment I read that (it appears in the second chapter of The Everlasting Man, I have felt in my bones that it is true, and have accordingly nurtured a healthy repugnance for the braggarts of optimism. But as with many paradoxes, it is difficult to explain | Read More »
Senator Jeff Sessions on AIG Bailout
Senator Jeff Sessions (R-AL) gave a great speech putting the AIG bonus issue in perspective today on the Senate floor. The bonuses for thousands of employees of AIG – the huge insurance company to which the government, the taxpayers of the United States, have shoveled $170 billion into to keep afloat – recall the Sessions maxim, announced about 20 years ago when I was U. | Read More »
AIG bonuses – What’s the fuss about?
The NYT et al are hopping mad that AIG is going to pay $165M in bonuses to execs after receiving $170B in bailouts. So freaking what? I ask that for a couple of reasons: During the debates over the various porkulus bills, Obama kept saying that people shouldn’t let some fraction they had a problem with (4-5% in the latest case) keep them from voting | Read More »
Are Bailed Out Companies Turning Into Spoiled Children
This morning there is an interesting story about the latest round of bail out begging from AIG. ABC News obtained a copy of a draft presentation for the Treasury Department about their need for more bail out money. The original story can be found here at the ABC News page. I have also downloaded a copy of the presentation to try to avoid the link | Read More »
Today’s Headlines — March 3, 2009
http://www.washingtontimes.com/news/2009/mar/03/100000-foot-soldiers-in-cartels/ EXCLUSIVE: 100,000 foot soldiers in cartels Numbers rival Mexican army — http://www.washingtontimes.com/news/2009/mar/03/bush-reversed-wartime-powers-in-final-days/ Bush reversed wartime powers in final days Memo upholds Congress rights — http://www.washingtontimes.com/news/2009/mar/03/bridge-to-nowhere-okd-for-everglades/ ‘Bridge to nowhere’ OK’d for Everglades Project buried in spending bill — http://www.washingtontimes.com/news/2009/mar/03/obama-choice-for-trade-post-owes-on-taxes/ Kirk, Obama’s trade pick, owed taxes — http://www.washingtontimes.com/news/2009/mar/03/stocks-plunge-to-1996-levels/ Banking crisis drops floor of stocks AIG losses set day’s tone — http://www.washingtontimes.com/news/2009/mar/03/loophole-lets-15-semiautomatics-in-dc-for-3-years/ Loophole lets 15 semiautomatics in | Read More »