Posted by: inforodeo | March 18, 2009

The “Shocking” News About AIG’s Bailout Bonuses

First of all, this shouldn’t be shocking.  The only people who are shocked by this are the people who somehow got it in their heads that a democratic administration was less corrupt than a republican one.  Those of us who are more historically-minded know that the democratic party has a long history of slimy, under-the-table dealings far predating Clinton-Lewinsky. They were the party that was pro-slavery! They were the party in charge of New York’s corrupt Tammany Hall at the turn of last century, not to mention the predecessor to government handouts: FDR’s “New Deal”.  They were the party that keeps producing scandal-clad Kennedys, and yes, the party that put Clintons into office. 

Now that we’ve got the reminders (at least the highlights of those reminders) out of the way, let’s go back to the subject at hand: Bailouts.

These corporate welfare checks were a bad idea to begin with.  Businesses who fail because their leaders are bad at business need a hand-out just as much as a homeless person who is an alcoholic needs one. Yes, some businesses/individuals fall into “hard times”, and true, a handful of those “hard times’ were at someone else’s hand.  Blame is easier placed, however, in individual’s situations than it is with the bad times for corporations, because aside from widespread cataclysmic disaster and gross consumer misinterest, corporations are set up with better foundations and already have numerous helps from government.

Corporate welfare checks were also a stupid idea because government should not interfere with private businesses. While this is often a “party sifter”, those who believe the federal government’s role should be minimal are more closely following the written intentions of the architects of this country.  The federal government of the United States was never intended to control every inch and minute of our lives, it was merely supposed to help us play better together.

Idiocracy aside, how could we not know this was coming?  We (or at least the Liberals out there) believe all big corporations are evil and prone to do this sort of thing, so … “duhhh?”  I suppose those who want to have an excuse are really going to have to eat crow on this one.  Led astray by Obama, your miraculous leader?  Hmmm.  No compassion here.  I’m also not going to let you off as easy trying to blame Christopher Dodd, either.  He’s also a golden boy of the democratic party.

As much as this probably shouldn’t seem that big of a thing (politicians, after all, routinely make weird mistakes), it’s interesting that Obama is so fiercely touring the country apologizing and expressing outrage at the CEO’s that took the bailout money as bonuses and fled the companies.  I hope you’ve thought about this a little. Why is Obama so quick to do a song and dance?  It’s not like he’s distracting you from something, right? 

Actually, yes, he is.  The “Bonus Loophole” written into the bill by Sen. Christopher Dodd (D) that allowed these CEOs (and others, just wait and see!) to use the federal money intended for rescuing their businesses for their own greedy little selves should have been caught by someone. You could probably forgive any other Junior Senator-turned-president for making this kind of mistake, but Obama has a few huge strikes against him: 

1. Obama has to prove he’s a “good leader” and that we can have “Hope” in him and that he will enact (implied “Good”) “Change”, so any mistake is a really bad thing for him.
2. Obama said a lot of bad things about George W. Bush, and now he has to prove he’s not as “stupid”.
3. Obama has been defending his idiotic “bailouts” for a month now, so it looks (is) really bad for him if those bailouts turn out to be the giant waste of money and hand-out to the rich that billions of Americans accused it of being.
4. Obama was (is) a lawyer, and even considered himself so good that he taught law, so it’s terribly embarrassing that he didn’t see this particular bit of “language” that built the bonus-loophole into the stimulus bill. 

Even as i type this, Obama is using his “strategy” of blame and distraction … the same one that got him elected.  He is claiming that the “Bonuses are a symptom of a larger problem”.  What that particular problem is according to him, i’m not sure, but i do know this: if the “bonuses” are indeed a symptom of a larger problem, that larger problem is the greedy taking handouts from the government, and i’m certain obama isn’t going to let the blame be placed at his feet.


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