Political Football

March 20 update – Powerlineblog wrote a great defense of the bonuses.  No one will hear the logic when all the rhetoric is so loud.

AIG, like GM, should have been allowed to go into bankruptcy. In bankruptcy, it could have wound down its financial products division just as it is doing now. Bankruptcy would not have affected the company’s international insurance businesses, distinct corporate entities which are both solvent and profitable. Those businesses could have been sold, which is what AIG now plans to do.

This is truly government gone mad. When are people going to see the GOVERNMENT IS THE PROBLEM!

This is all about the AIG craziness. Recoup the bonuses. Write special legislation to tax them 100% retroactively. RETROACTIVE LEGISLATION. Think about that. Are they Crazy?

People’s anger should have been stronger a long time ago. It’s not a problem unless it affects you. That’s not the way we were supposed to manage our lives in this republic, this is not the government we were supposed to have but this has become the government we deserve.

This is serious. We threw together a huge entitlement plan with the bail-outs, passed it out of fear and now we reap the results. AIG is not the villain. We should not have bailed them out. We had options. The bail-out should have not been passed or certainly passed so quickly.

All politicians are doing are fomenting anger across the country against a few businessmen that were doing what the law allowed. THEY DID NOTHING ILLEGAL, IF THEY HAVE – ARREST THEM.

When politicians are saying in committee hearings that the names of those with bonuses won’t be released if they give back all the money… They should be arrested on the spot for extortion. and all Obama is going to do on the Leno show is continue to build the anger and attempt to build his power base because of the outrage. Are we ready for mob rule?

There is real anger in this country today, but it’s taking us in the wrong direction. The bailout was wrong for a reason. In our legal system a company, any company, should NOT be too large to fail. But a contract is also a contract. If these people were due a bonus, they deserve it and deserve not to be bullied into giving it back.

On the other hand, this failed business should not have been propped up.

Will the President discuss the situation in the US today in those terms in the first late night comedy show ever guested by a sitting President? I bet not; he will tell everyone this is all Bush’s fault and how we need to borrow from our grandchildren’s future because we can’t trust businesses to do the right thing, we can only trust government. yikes!

Government does not solve problems; it subsidizes them. Ronald Reagan

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