I said before Barkey was elected that the promises of change without a road map were a dangerous thing. We’re now finding out exactly HOW dangerous. It’s costing us more than we were willing to give.
Via Tammy Bruce, the news is that Barkey partied his green boxers off for St. Patrick’s day. Traditionally, the President meets with the Taoiseach (head of the government of Ireland, even over the Irish president) on St. Patrick’s day. This year, the new Fuhrer (er…ah, I meant President!) threw a massive party at the White House on our buck. AGAIN. This time his guest list was nearly 200 strong. I wonder if wagyu beef was on the menu again. According to Barry O, Americans need to be willing to tighten their belts. I don’t see a very good example being set.
That’s just the beginning of my latest gripe. Have you seen the news about AIG’s latest bailout request? They posted a $60 billion loss, and turned around and asked the government for an additional $30 billion in bailout funds. Strangely, they’re still able to pay out more than $160 in corporate bonuses in their Financial Products division, which is the same wing of the company that brought them to the brink of collapse last year and required a massive infusion of TARP funds. Outraged lawmakers in Washington, D.C. hurriedly wrote a bill that would stop corporate bonuses from being paid by companies that had requested bailout money, both from Bush Jr. and from the current administration.
Senator Chris Dodd, however, after feigning the same outrage over corporate bonuses, wrote a loophole into the legislation. It basically says that the law only applies to corporate bonuses written into contract after February 11, 2009. That pretty well allows all of the corporate bonuses that were in contractual agreements with employees and nearly cuts the balls completely off of the legislation. It gets better.
Dodd received $103,100 in campaign contributions for the 2008 elections.
Dodd isn’t the only one paid off by AIG. SENATOR Obama accepted $101,332 in campaign contributions. Gee, I wonder what’s going on.
AIG’s monkey business spurred the economic collapse we’re trying to recover from (along with Citibank). I wondered from the start why we were bailing out AIG, because they’re not as important to the world economy as some of the other banking giants. 11 of the executives who received million-dollar-plus bonuses quit as soon as they got their money, and they don’t have to pay it back. Are we seriously still going to keep dumping money into the black hole that is AIG? Of course! Barkey’s bought and paid for!
This is the kind of change we voted for? I don’t even want to know how much worse it can get. I’m also reading reports that The Man is concocting a plan to make wounded veterans pay for their own healthcare, and is even chewing on the idea of taxing healthcare benefits–all after he promised to lower healthcare costs. This is a fantastic idea–jack up the costs on everyone so that the citizenry begs for socialized healthcare. The only problem is we’re catching on before he can implement the plan.
At least I hope we are. This is our “change”…but at what cost?