The “Outrage” Over AIG

I find it very amusing that Fed Chairman Bernanke, President Obama and all of these members in Congress are so “outraged” by the AIG bonuses that add up to $170 million.

Aren’t these the same people who said we had to act swiftly and boldly to help avert falling into a financial abyss?  I know that Bush was still President then, but Obama and McCain both favored the massive government intervention.

This is what happens when you just say things like “protect the taxpayer” but you don’t take the time to read the bill to see if those provisions are really in there.

The AIG bailout was one that was not executed by Congress, but it is still their responsibility to ask questions and press the Treasury and Fed on what their plans are.  You can’t just let things happen and then get mad later at the outcome.

I’m more mad at the $170 billion we’ve given to AIG so far to keep it afloat.  They doled out almost $60 billion to all their big bank friends.  Why aren’t we outraged at that?  Why are we so mad about $170 million?  We need to stop focusing at the small stuff and AIG and start focusing on the bigger picture and the horrible job the Fed and Treasury Department are doing.

You’d think if you gave someone $170 billion, you’d keep good tabs on where it is going, right?  Wrong.  YOou would know that they are just handing over billions to their banking friends, right?  Wrong.  You think you’d actually put in provisions to protect the taxpayers and not just say you did, right?  Wrong.

The AIG bonus “outrage” is just a political ploy to make it look like our politicians care about us, and we’re taking the bait.  Instead of focusing on the mismanagement by the government, we’re making those big, bad greedy executives the scapegoat.

Now Congress wants to tax these bonuses to recoup the money.  However, some people got bonuses of $1000.  It’s more than just the top level that relies on bonuses for a big chunk of their salaries.  I don’t think the execs should be getting this money, but a secretary or administrative assistant?  Let’s take their money too.

This whole thing was a mess from the start and now we’re paying the price.  The government told us how we needed to act urgently and this is what happens.  When will we, the people stop buying it and stand up to this nonsense?

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One Response to “The “Outrage” Over AIG”

  1. theunitedpeople Says:

    I agree! Americans must be having simple mathematical issues – why are we so angry at private contracts adding up to a measly 167,000,000($.55 per taxpayer), when our government just spent 787,000,000,000($2,600 per taxpayer)?

    Here’s what they spent our money on:
    http://www.washingtonpost.com/wp-dyn/content/graphic/2009/02/01/GR2009020100154.html

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