The Obama administration sent out its economic overloads yesterday to demagogue the issue of bonuses received by AIG executives after the company was given bailout money.
The term “outrageous” was used by Larry Summers to describe the situation.
Barney Frank said it was “inappropriate” and that AIG executives were “abusing the system”. He also said that these executives don’t have a “right” to their jobs.
Austan Goolsbee claimed that Timothy Geithner was “really upset” by the payouts.
Ooooo. Tim was “realllllly upset”.
What a joke.
While I don’t like the idea of taxpayer money being used to pay bonuses to people who led AIG into this financial mess, I like even less the populist anger being spewed by the very people in this administration who should have been overseeing the way in which this money was doled out to this company.
The arrogance of these people is astounding. THEY chose to give AIG this money. THEY chose to do it without guidelines.
These bailouts and spending bills were NOT what the people of this country wanted from their elected representatives.
The violation of public trust was on full display when members of Congress rushed through a trillion dollar spending bill, without even reading it.
If anyone deserves to be thrown out of their jobs, it’s people like Frank, Summers, and Geithner. They have shown a complete lack of understanding and restraint when it comes to dealing with private sector enterprises, while showing a lack of caring and competence for the way in which taxpayer money has been utilized.
This populist outburst is just the latest in a string of events this administration has used to divert attention away from its incompetence and its underlying tactics of changing our system from a true capitalist one to a quasi-socialist one. Capping Wall Street salaries, the bogus outrage over Rush Limbaugh, and now manufactured outrage over the monster that THEY have created at AIG are all diversions.
What should be the focus of the AIG outrage is the fact that this administration gave billions of dollars to this company, which in turn funneled billions to companies in other countries. Duetche Bank of Germany, Barkleys of Britain, Societe Generale of France, and UBS of Switzerland all received money from the AIG bailout total.
That should be the real “outrageous” reasoning behind this fake outpouring of disgust.
It’s also a crafty cover-up of the Unity 09 push, where Obama supporters are tipped off by “someone” in the White House in what’s dubbed the “8:45 morning meeting”. His campaign hit-men then go out and attack anyone on the current “wanted” list, or gin up outrage over certain matters in order to attempt a cover-up of the current shenanigans being perpetuated by the administration.
This is currently displayed by the grass-roots campaign to “beat the streets” in order to garner support for Obama’s massive $3.55 trillion budget, complete with $1.5 trillion deficit.
The passage of this budget will bring his 6-week spending spree to an estimated $5.5-$6 trillion dollar bill, with future generations paying for it.
What’s the term for that gross arrogance?
Oh, yeah. Outrageous.