Washington- In what aides to President Obama are calling a “massive shift in policy,” the President called for the execution of AIG executives Thursday night.
“The American people are looking for the government to show that it is on their side. The People are also looking for closure. This coming Monday, I plan to put before Congress a Bill that will prevent egregious bonuses when the country in floundering.
“This bill will be ex post facto; AIG executives will pay for the crime they have committed against the great people of this country. That is why, with support from my Cabinet, I have included a clause in the bill in which the death penalty can be applicable for bonuses over ten million dollars.
“This will at least apply to one or two AIG employees,” Obama added.
Although the bill is considered a break with traditional punishment, it has faced very little resistance. “So you’re telling me that a multi-billionaire would be punished for swindling the American people during a recession,” asked Paul Trabit, a steel worker in upstate New Jersey.
“Fry ‘em,” he concluded. “Fry ‘em all.”
The President has also added a clause that, should people pay a fee, they could watch the execution on demand. “Not only would this give the American people the closure they desire so greatly,” the President said, “but it will also raise revenue for the government.”
AIG officials were not able to be reached for comment.
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Showing posts with label AIG. Show all posts
Showing posts with label AIG. Show all posts
Friday, March 27, 2009
Tuesday, March 24, 2009
A Dangerous Precedent to Seize Business
The federal government is looking into a radical increase of powers, including the ability to seize privately-owned firms. This precedent would go far beyond the already-existing powers of the Treasury Department. The government is justifying this by declaring that if these companies fail, then the economy fails.
Such a justification is a dangerous increase of governmental powers. The Obama Administration is looking to have the Congress rubber-stamp this proposal. The ability to seize companies without due process is counter to precepts of the Constitution. This should additionally be approved by the Supreme Court in order to prove whether or not it is Constitutional.
One of the biggest problems with this legislation is that the government could use these powers to seize other business, potentially leading to an increase of socialization. This nationalization could cause the government to take over industries deemed "vital." How long until GM, Ford, or Winchester is owned by the government?
While the chances of this is unlikely over the next several years, giving the government the power to do this is a terrible experiment. And what about our energy supplies? What if the federal government decides to seize Exxon?
Caution is required at moments like this.
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Such a justification is a dangerous increase of governmental powers. The Obama Administration is looking to have the Congress rubber-stamp this proposal. The ability to seize companies without due process is counter to precepts of the Constitution. This should additionally be approved by the Supreme Court in order to prove whether or not it is Constitutional.
One of the biggest problems with this legislation is that the government could use these powers to seize other business, potentially leading to an increase of socialization. This nationalization could cause the government to take over industries deemed "vital." How long until GM, Ford, or Winchester is owned by the government?
While the chances of this is unlikely over the next several years, giving the government the power to do this is a terrible experiment. And what about our energy supplies? What if the federal government decides to seize Exxon?
Caution is required at moments like this.
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Monday, March 23, 2009
Obama to Slash Special Olympics Funding
Conservative News And Reporting
"News for the Rest of Us"
Geoffrey Likeson
WASHINGTON-- Upon returning from his trip to the West Coast last week, President Obama is looking to head back to business. His agenda includes pushing for a new Omnibus spending package, new EPA regulations, and an increase of forces in Afghanistan.
One proposal that has not been publicized is his controversial plan to gut federal funding to the Special Olympics. Some estimates from the Governmental Accountability Office (GAO) place this cut at around 70%.
These cuts come as the President has stated that he is committed to "reducing government waste." Formed in 1968, the Special Olympics has served as an avenue of success for the developmentally disabled and their parents. US Federal funding provides up to 70% of the budget for the American branch of the Olympics.
"Such a cut would be devastating." said Jason Ketchum, a lawyer for the developmentally disabled. "We might have to cancel the games for the first time in forty years."
The reasoning behind the cut is unknown, but Senator Obama stated that the Special Olympics was "not conducive to a successful society." State Senator Obama was also chastised in 2006 when in his campaign for the US Senate he called his opponent, Alan Keyes, "a mongoloid."
These cuts would amount to $20 million in savings for US taxpayers, or about what the President has asked for in additional funding for foreign-based abortions, or less than one-seventh of federal bailout money going to give bonuses to AIG officials. It is also reported that the White House is calling for the state governments to cut on funding for the Special Olympics, which would further reduce their budget by 50%.
"I don't understand," said Ketchum, "This should be a crime."
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"News for the Rest of Us"
Geoffrey Likeson
WASHINGTON-- Upon returning from his trip to the West Coast last week, President Obama is looking to head back to business. His agenda includes pushing for a new Omnibus spending package, new EPA regulations, and an increase of forces in Afghanistan.
One proposal that has not been publicized is his controversial plan to gut federal funding to the Special Olympics. Some estimates from the Governmental Accountability Office (GAO) place this cut at around 70%.
These cuts come as the President has stated that he is committed to "reducing government waste." Formed in 1968, the Special Olympics has served as an avenue of success for the developmentally disabled and their parents. US Federal funding provides up to 70% of the budget for the American branch of the Olympics.
"Such a cut would be devastating." said Jason Ketchum, a lawyer for the developmentally disabled. "We might have to cancel the games for the first time in forty years."
The reasoning behind the cut is unknown, but Senator Obama stated that the Special Olympics was "not conducive to a successful society." State Senator Obama was also chastised in 2006 when in his campaign for the US Senate he called his opponent, Alan Keyes, "a mongoloid."
These cuts would amount to $20 million in savings for US taxpayers, or about what the President has asked for in additional funding for foreign-based abortions, or less than one-seventh of federal bailout money going to give bonuses to AIG officials. It is also reported that the White House is calling for the state governments to cut on funding for the Special Olympics, which would further reduce their budget by 50%.
"I don't understand," said Ketchum, "This should be a crime."
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Tuesday, March 17, 2009
Our Money for the AIG Salaries?
Les Hendrix on the Schoharie Tattler has a good post up about the proposed use of our money to pay for the AIG executives' salaries. Such a move is an insult to all of us, especially those who have trouble paying mortgages or receiving loans.
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Change We Can Believe In?
The Obomination is accepting AIG’s plan to pay $100 million in bonuses to executives who nearly brought the firm to bankruptcy before the government gave them a $170 BILLION of our money. http://www.nytimes.com/2009/03/15/business/15AIG.html?hp
Is that change we can believe in?
Grow a little brass, Mr. Obama. Do something like impose the BAT tax on corporations that use bailout funds for executive bonuses (or any other executive remuneration or other inappropriate purpose). The tax should equal 100 percent of the inappropriately used money. And while we’re at it, let’s examine the question, “Is it not a form of fraud for a company to accept bailout funds and then use the funds to reward the executives who caused the need for bailout?” Was there here no scheme to defraud? How can this not be a con game? If you have any guts we will see a bunch of them in jail.
BAT Tax is explained at the right.
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