Tuesday, March 17, 2009

The American People are Angry! And pretty confused!


Tell us your thoughts on this post!

It seems that The American people are angry, jaded and pretty confused about government bailouts for mega-companies, particularly due to the bonuses being doled out to executives, including those responsible for the mess in the first place.

This blog post includes several things:

1.  Links to articles related to bailouts for financial giants such as AIG

2.  Link to a MoveOn.org call to action, which is asking people to write questions they have for bankers and ideas on different strategies for how to get our money back.  Apparently some of the questions for bankers will be selected and asked to the bankers during upcoming legislative hearings.

3.  Blog post by blogger TannerLeah of the blog Stop Annoying Me.  His words embody the feelings of anger, frustration, and helplessness that many people likely feel towards the bailouts and executive bonuses.  If you find some of his wording choices to be offensive, please feel free to leave a comment on this blog or on his.

4.  Reader comments on a NY Times article on AIG executive bonuses and government impotency.


*****Also, please look out for upcoming Obama IS America! posts on the following:******
  • Interview with Dr. Carol Wise, Associate Professor at the University of Southern California on NAFTA and the American economy, and her take on American identity.
  • Breakdown of why the movie Slumdog Millionaire is a scam, and a call to action to make filmmakers more socially responsible and accountable.
Links:




Why Can’t AIG Be Allowed To Fail?

Over and over I keep hearing this mantra about how the American government cannot allow AIG to fail. So, because it cannot be allowed to fail, the government continues to funnel a never ending supply of money into it. But WHY can’t it be allowed to collapse? What horrible thing is going to happen? 

I know this much. Ben Bernanke must be the worst poker player in the entire world. How else can you explain the fact that he keeps telling the world that he will do whatever it takes to keep AIG afloat? 150 billion? No problem. 200 billion? Sure thing. 300 billion? Ben will be really, really mad and slamming his phone down but the check is in the mail. 

Of course the good folks at AIG are spending like drunken sailors. They have an open ended credit card and they know it. Want to spend 100 million on bonuses? Knock yourself out. Want to send billions of dollars to foreign banks so that, essentially, the American people are bailing them out? No sweat. Keep acting like you are mad, Ben. It is working like a charm. 

Up to the plate stomps Barney Gay and Nancy “who stole my eyebrows” Pelosi. Even more and more barking with no action being taken. How is it possible that the Fed AND the government have no control over the situation? Oh, I know. Because they have NEVER had control which is how this whole thing came to be in the first place. Of course, since all of these people belong to the same gene pool, I think it is a little unreasonable to think they will actually punish each other. 

Hey AIG…be very grateful that the US citizens are powerless in such matters. If we weren’t, you would be shut down by the end of the day and you could take your “bonuses” and shove them up your collective a**es. Of course, you would have no bonus to shove because we would have already taken that money back. 

If you can create the FDIC to protect banks, just make up a new acronym to protect insurance companies. Surely, it would be cheaper than just flooding these idiots with money on virtually a daily basis. Better yet, let AIG fail and let their competitors swoop in and pick the bones clean. Then, make the ex-employees work at McDonalds until they save enough money to pay the US taxpayer back. 

In the meantime, Bernanke, Frank, Reid, Pelosi and crew, could you just shut the hell up?!? Either do something to fix the problem or just shut up about it. Acting like a powerless victim is exceedingly annoying. 

And hey, where the hell is Barry while all this is going on? Can’t the POTUS shut this thing down in the blink of an eye? Well? What are you waiting for…a fist bump?

Possibly related posts: (automatically generated)

This entry was posted on Monday, March 16th, 2009 at 11:15 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.


NY Times Reader Comments:

1.
March 15, 2009 12:48 am

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This makes me ill. As a taxpayer, paying for these bonuses, I'd like to see exactly who the recipients are and how much each is getting. I'd much prefer my tax money to go the homeless, needy, NPR, guide dogs for the blind, cancer research...you name it. This is absurd. Let AIG fail, and then let's see what those executives believe they are entitled to receive. Let 'em fail, baby, let 'em fail.

— Marc S, Left Coast

2.
March 15, 2009 12:48 am

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Utterly and completely pathetic.

— rick jones, sunnyvale, ca

3.
March 15, 2009 12:48 am

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I'm against their giving any bonuses, but if they do it should be in AIG stock, and will only be worth something if the company turns around. What are these bailed out companies thinking? They just don't get it!

— ValorieK, Scottsdale, AZ

4.
March 15, 2009 12:48 am

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The government should immediately withdraw any and all bail out money and then we will see who gets a bonus, or a paycheck. Audacity, chutzpah, bad form, greed, ineptitude, and stupidity is all these persons have displayed - let's see how far that gets them after their company folds up on Monday morning.

— Andrew, NY

5.
March 15, 2009 12:48 am

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This simply has to stop.

— John, Butte, Montana

6.
March 15, 2009 12:48 am

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This is so outrageous it is almost humerous. Is there nothing the US Government can do - or do we the people need to take it upon ourselves? This becomes worse than the robber barons of the 1920s. Now is the time to stop this - but how?

— Joan Rutkowski, Florence, Italy

7.
March 15, 2009 12:48 am

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they feel that they need to pay these bonuses so they can "continue to attract top talent?" I think that horse has left the barn.

— mark, new york

8.
March 15, 2009 12:48 am

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Absolutely disgusting. If these execs have any ethics, they will refuse the bonuses.

— Mike, MI

9.
March 15, 2009 12:48 am

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Business as usual. I think they should tear up the contracts and fire the "best and brightest" that got AIG into the mess. Let's try "better and brighter".

— NJahn, Seattle, WA

10.
March 15, 2009 12:48 am

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The people at AIG should be incredibly ashamed of themselves, including and especially the man at the top. It is outrageous that they are giving bonuses out to people who have helped to contribute to the current state of economics. To say they are obligated by contract is pure bull. They were obligated to run their company right and not have to be bailed out with $170 BILLION tax payer dollars. There is NO obligation to reward anyone at that company. They should all be fired and start with a fresh team in there who will have a better chance of running the company properly.

— emeliacarson, Las Vegas, NV

11.
March 15, 2009 12:48 am

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This is outrageous. When will Wall Street execs understand that they are NOT ENTITLED to this money? You go into business, and the business fails, you don't get well paid. That's it.

This bailout money is designed to keep AIG afloat for the good of the country. Either you take it under our rules (and we should order that no bonuses be given), or you go under.

— Brian, Boston

12.
March 15, 2009 12:48 am

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This is a travesty! How can it be that AIG rewards the same executives responsible for their spectacularly greedy and disastrously destructive performance in 2008. We taxpayers should not pay a penny for any of their salaries.

— D1036, Seattle

13.
March 15, 2009 12:48 am

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What is this "obligated to pay them", the bonuses. I don't think so. Is there no end to the greed of these people? Have they no feeling/conscience in regard to the hardship their folly has wreaked on the American public they were supposed to be serving. This is obscene!

— Jeanette Rigopoulos, San Diego, California

14.
March 15, 2009 12:48 am

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This is criminal.Instead of being fired for there incomptence they are being rewarded.How can congress allow this to happen

— David Weidler, New Orleans

15.
March 15, 2009 12:48 am

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Amazing. UAW is told they have to abrogate their contracts and renogotiate. But AIG seems to have no power to do so and is obligated to honor the contract. That this was the very unit that brought AIG down just is more unbelievable.

— Charles Reiss, Shushan, N.Y.

16.
March 15, 2009 12:48 am

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let them go bankrupt. Please.

— incredulous, West Palm Beach

17.
March 15, 2009 12:48 am

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I am so tired of the disparity between business struggles and consumer struggles. Is there any other way to classify this AIG bailout as anything other than a handout? To make matters worse, bonuses to the tune to $100 million are still paid out? What do we tell our children about "working hard and good things will happen to you", when in fact it really doesn't occur.

— jeff, ohio

18.
March 15, 2009 12:48 am

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Stop handing money to people who clearly have no idea how to spend it!

— Rebecca0o, Columbus, OH

19.
March 15, 2009 12:48 am

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"On the other hand, we cannot attract and retain the best and brightest talent to lead and staff the AIG businesses — which are now being operated principally on behalf of the American taxpayers — if employees believe that their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury."

They've used that term AGAIN! - "THE BEST & THE BRIGHTEST"
WE NEED TO SEE "THE BEST & THE BRIGHTEST" HEADS ROLL!!!

— F_Bardamu, NY,NY

20.
March 15, 2009 12:48 am

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If this doesn't start the revolution, then we deserve what we get.

— Disgusted, NYC

21.
March 15, 2009 12:48 am

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These are the best and brightest? Based on what? Their fabulous profitability? How nice that they're now doing their good work on behalf of the taxpayers. The mind reels.

— Andy, Jersey Shore

22.
March 15, 2009 12:48 am

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Let these "high performing" executives sue for their bonuses in court. $100 billion can buy allot of government lawyers to fight them. And they WOULD lose.

— N. R. Murray, Bangor, ME

23.
March 15, 2009 12:51 am

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I just got this NY Times alert. I am speechless. You will hear more from me later! I have to process this. Where's our bonuses?

— Spinlink, Greensboro, NC

24.
March 15, 2009 12:51 am

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Does anyone care that AIG bought 6 Falcon fan Jets
in the middle of this Mess!

— ttwar, Brooklyn

25.
March 15, 2009 12:51 am

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Yet another insult to the American taxpayer and all those displaced by the shenanigans of the 'best and brightest' at AIG and the investment houses. Doesn't anybody in this Administration have enough backbone to put an end to this continued looting of Main Street? What's it going to take before someone stands up and says 'Enough's enough'?

— Sipkins, Minneapolis

at 7:21 PM Posted by Obama IS America!
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