Why it is OK for Congress to waste taxpayer money at the rate of 1% but when AIG wastes it at the rate of 0.10% the hypocrites on the public payroll get their little panties in a twist? It seems like the crooks at AIG are at least ten times better at avoiding wasteful spending then Congress.
Maybe Congress should learn some lessons here on how to waste less of our money. Another dog and pony show meant to distract attention and confuse the masses about where the blame lies for some of this economic mess we are in.
From Chuck Schumer (D-NY) in the debate about passage of the $787 Billion stimulus package which included approximately $8 Billion in "pork" spending or earmarks.
“And let me say this to all of the chattering class that so much focuses on those little, tiny, yes, porky amendments, the American people really don’t care.”
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These idiots showed the ultimate contempt for the taxpayer as well as no inclination to tighten their belts or balance their budget during a crisis. But it doesn't stop them from asking others to do so.
AIG received about $170 billion in government funds under the Troubled Asset Relief Program, or TARP. The company is under fire because of $220 million paid out as retention bonuses, including $165 million recently paid under contracts concluded last year.
From Rep. Paul Kanjosrksi (D-PA):
"Something is seriously out of whack and AIG needs to fix it now. We face the most challenging economy since the Great Depression [of the 1930s]. Many have made personal sacrifices to survive these difficult times. AIG and its employees should do the same," he said.
WORDS TO LIVE BY, PERHAPS CONGRESS SHOULD LOOK IN THE MIRROR.
And it wouldn't hurt for Congress to admit to a mea culpa here and there for their role in getting into this mess. To hear most of them talk, they made absolutely no mistakes. NOT ONE.
Thankfully Ben Bernanke seems to be taking the reins. I'm starting to gain more confidence in him then the numb skulls in Congress and the Administration.
Philosophically, I am nearly violently opposed to the Fed. But in this crisis, it seems like Bernanke is the veteran leader that can steer the ship through these turbulent waters.
GOD BLESS BEN BERNANKE AND GOD BLESS AMERICA.
Excuse me, the Comedian in Chief is taking credit for Bernanke's aggressive action in response to the crisis. By the way, action that the market immediately saluted.
That's how it works, the stock market looks forward not backward. And it weighs measures without regard to party. Most of these guys would get in bed with either party that could make them money. They don't see red or blue, or black or white. They just see green. And they react accordingly.
I believe John Galt is about to re-enter the building.
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