Telling The Truth

Did anyone see Hannity tonight? OMG, he is going after this whole AIG thing big time.

So you all know what's going on with AIG right? In the midst of 8 1/2 % average nationwide unemployment and people losing their homes to foreclosure, jobs going to Mexico, and most people losing nearly all of their 401K's our wonderful government has allowed AIG to hand out $165 Million in bonuses to it's Execs.

Everyone is too busy pointing fingers, but it boils down to one administration, one congress, and the treasury department. They are to blame. Now, as if it wasn't bad enough to nationalize our banks Congress is working on passing a bill that penalizes the TARP recipients with a 90% tax on any bonuses received. Don't get me wrong, this pisses me off beyond measure. My problem is that the above listed people knew that AIG execs were going to get these bonuses. They knew in November and did nothing to stop it.

So what is my problem with this tax? I personally think that every person who got a bonus from a company that got TARP money should return that bonus. Period. My problem is that the bonuses were contractual. If you've watched the news you'll know what I'm saying here. When the TARP money was being negotiated, those contracts should have been negotiated as well. But, according to Chris Dodd, the Obama administration wanted AIG to be allowed to give out these bonuses. The "needed" to give out these bonuses in order to retain these fabulous people who will get us out of this financial crisis. (Even though these are the financial geniuses who got us here in the first place.)

The courts in this Country are built on the stability of Contract law. Who is going to trust any contract if during this financial crisis we start changing how we handle contracts? The rest of us are made to abide by the contracts we made. Who of us hasn't signed up for a gym membership for a 12 month period only to never go back? You know they aren't letting you out of that contract and you are going to pay $68.00 a month for the next twelve months no matter what! All because you signed a.....CONTRACT!

If we didn't want AIG to pay their execs million dollar bonuses, well it should have been put in the bill when it was originally written. Oh, wait, it was. But Obama's people wanted the wording changed and AIG didn't have any restrictions on how the money was spent.

Tim Geitner should be tossed out on his back side! Chris Dodd should be sanctioned for looking into the camera and telling us a lie and then turning around the very next day to tell us a different lie! Did he forget what he said the day before.

A note to politicians, it's easier to remember what you've said....when you've told the truth.