Thursday, March 19, 2009

Always Initiate Greed

I hope everyone has been following the most recent disgusting issue of the Rich-Getting-Richer-Even-When-They-Suck-At-What-They-Do. So AIG (American International Group) was one of the numerous huge banking companies that had to be bailed out (receiving $85 billion) by the US government in lieu of the recent economy crisis. That wasn't hugely surprising considering all the other big heads that were rolling. However, they're spending decisions were certainly controversial. Evidently some of the money was used to rectify problem areas, but the company also deemed it appropriate to use the funds (which are generated by taxpayer money, the same taxpayers who had seen 401Ks plummet and endured foreclosures skyrocketing) to reward bonuses to executives. REWARD?! To executives who had just overseen the company lose over $60 billion during the course of the last quarter of 2008. WTF?! What kind of backward employee manual do they work by over there? It would seem those executives should be among the rising unemployment numbers. Twisted world.

Oh, and to make things even rosier, details are coming out about how then-Treasury Secretary Henry Paulson, then-New York Fed official (and current Treasury Secretary) Timothy Geithner, Goldman Sachs CEO Lloyd Blankfein, and Fed Chairman Ben Bernanke may have created a loophole in the bailout on purpose to ALLOW the bonuses. There are a whole lot of greedy SOBs out there. Wonder what kind of "bonus" those four coniving horsemen received in their respective offshore accounts after allowing that one to go through ... we should throw them in Guatanamo Bay ... crap, too late.

Makes me seriously question why the hell we pay taxes in this country.

(Yeah, that AIG.)


mikenjamie said...

interesting comments for someone who is so "PRO OBAMA". I couldn't agree more. I work hard for my money and certainly don't want to see going to these people. If they can't run their company properly, they deserve to be unemployed and looking for work like many other americans.

Esteban Pumpernickel said...

Hey, let's not drag the greatest team in the world into this....