I don’t understand why my jaw dropped when I heard about the AIG bonuses. I really thought that this bailout nonsense couldn’t shock me anymore. But alas my jaw dropped and I had to scoop it up off the floor. Now if there is a time to become bi-partisan then it is now because I think most Americans can agree that they are disgusted with this use of our tax dollars, even though 92 votes on the house were cast NOT to tax PIG, I mean AIG a 90% retroactive fee on their bonuses.
Starting a blog this month was brilliant because with the news hitting the stands hard it causes my fingers to type even harder on the keyboard and strangely I find it a welcomed stress reliever. I have been against any type of government bailouts because I think the people who made the GREEDY mistakes should take the hard fall. However, here we all are united tax payers shouldering Wall Streets burden. More government means less control us citizens have and it makes me want to scream in Spanish!
AIG can go back to their full out name American International Group as their PR team suggests but they will never fool me. I would not be surprised if certain leaders of this country didn’t get a kickback ($$$) from the AIG bonuses. If I could be the detective to track down where all the Bailout money went then I would be in paradise.
All I can say is that I work for myself and I always have a contract with client and I have never signed a contract that I did not read from beginning to end or understand. So how can all our tax dollars are given so freely to these banks and then our government claims ignorance? Maybe I should work for the government reading contracts; God knows that is where all the jobs are going to be now with all the Stimulus packages coming our way. Soon us tax payers will have to pay taxes up to 39% or higher subsequently that is not my idea of the “HOPE” everyone preached last year!!!!
Yours Truly,
Erica Parkhurst
President
Parkhurst Premier Events, Inc.
www.parkhurstpremier.com
Starting a blog this month was brilliant because with the news hitting the stands hard it causes my fingers to type even harder on the keyboard and strangely I find it a welcomed stress reliever. I have been against any type of government bailouts because I think the people who made the GREEDY mistakes should take the hard fall. However, here we all are united tax payers shouldering Wall Streets burden. More government means less control us citizens have and it makes me want to scream in Spanish!
AIG can go back to their full out name American International Group as their PR team suggests but they will never fool me. I would not be surprised if certain leaders of this country didn’t get a kickback ($$$) from the AIG bonuses. If I could be the detective to track down where all the Bailout money went then I would be in paradise.
All I can say is that I work for myself and I always have a contract with client and I have never signed a contract that I did not read from beginning to end or understand. So how can all our tax dollars are given so freely to these banks and then our government claims ignorance? Maybe I should work for the government reading contracts; God knows that is where all the jobs are going to be now with all the Stimulus packages coming our way. Soon us tax payers will have to pay taxes up to 39% or higher subsequently that is not my idea of the “HOPE” everyone preached last year!!!!
Yours Truly,
Erica Parkhurst
President
Parkhurst Premier Events, Inc.
www.parkhurstpremier.com
The bonuses aren't the real problem. The bigger issue is the billions of dollars that AIG has received to cover insurance claims. These insurance claims will go back to the same banks that have been bailed out already. Why should AIG pay back those banks in full for their mistakes?
ReplyDeleteYes, the bonuses were large. But, not all individuals in an organization are at fault for the problems. People can still excel in a bad situation. In comparison, the bail out money to cover claims far exceeds the bonuses paid to executives.
I believe that when all is said and done, there are two major people/groups at fault:
ReplyDelete1. Senator Chris Dodd (D-Conn.) who leads the Senate Banking committee. Him and his group amended the legal language of the bail-out to exclude capping executive bonuses. Dodd first tried to cover up that he was a part of this decision, but then later admitted he in deed was. Additionally, Dodd received the largest chunk of AIG's political donations - a total of $103,100. AIG's largest HQ is also in Connecticut. Hmmmm....
2. Congress as a whole. Sure, we can all point fingers at the President - both past and present, but the body that really counts is Congress. They are the ones that are drafting all of these bills and amendments, and they are the ones that are passing them; and who is in charge of Congress? Democrats. And they have been for the past few years.
I agree that it was poor business acumen to award such extravagant bonuses (hello - we all watch Ugly Betty!) - but the real fault is none other than Congress. The money should have been closely guarded and watched; but as usual, the government money toilet has flushed again.