AIG, the insurance giant at the core of the financial meltdown, struck again over the weekend, disclosing that it would use some of its $170 billion in federal bailout money to reward its employees with $165 million in bonuses. And Obama was left looking like a pitiful giant as his aides explained that there was absolutely nothing they could do to stop the obscene payouts -- even though the government owns 80 percent of AIG.
But if the president wants to keep ahead of the public fury, he'll need to do more than share the concerns; he'll need to act on them. Now it's time to deliver.
Well said. He is the president for crying out loud, we the tax payers own most of AIG, if not the whole corpse. We have the power; he has the power if he has the balls to execute it. Nothing less than nationalizing, firing the oh-so-very "Talented" and breaking up the company will suffice. Do you have the balls Obama?
AIG needs to die. They are 13 trillion dollars in debt from credit default swaps; they have acknowledged paying 80 billion of that debt... We simply cannot afford to bring them back to life... the bankers, the insurers, the stockholders, the board of directors have to- must- lose their shirts and shuffle away in disgrace.
They are not talented, there f-students on a drinking binge.
If the bonuses cannot be prevented, then at very least I'd like to see the names, amounts of bonuses, and home towns named so these people will have to endure public scorn in their local communities when they do go out.
There may not be much public scorn in the country clubs and yacht clubs of Greenwich, CT, but they have to get their groceries and gasoline and drop their kids off at school somewhere.
First nationalize the damn banks. If they are too big to fail, they are too big to be privately run.
Second; arrest everybody above the position of bank teller, arrest them and try them for fraud, robbery, embezzlement, and anything that comes to mind.
Finally, after they're convicted, release them on their own recognizance, publicize where every single one of these sociopaths live and give the entire police department in those locales one day off; also well publicized!
Isn't this precisely why the US gov should stop giving any financial institution "bailout" or "stimulus" funding until new regulations are in place to stop this kind of fraud?
To retain your credibility President Obama, you need to nail these AIG creeps to the slimy walls of their relentless greed.
And no more of MY MONEY to banks, Mr. Obama. None! I'm keeping count of my fuc*ing dimes right now. Get it?
Obama, I supported you with voice and cash, but if you let this sh*t slide you're going to lose me and you won't get me back.
"Change we can believe in" sounded nice, and hooked me. Now it's time to deliver.
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