Rosemary's Thoughts: Anger At Gov't, Not AIG

Tuesday, March 17, 2009

Anger At Gov't, Not AIG

Posted by Rosemary Welch at 3/17/2009 05:03:00 AM Labels: economy, open tb

Does anyone remember when the housing bubble burst (which it does each and every time), and the gov't stepped in to try to catch the people (who could not afford their houses) from falling into foreclosure? Do you remember that it was government who dictated the regulations that heightened this collapse and made it worse? So answer me this, why is no one angry at our government? Why are we not in the streets condemning talk such as (paraphrased), "They need to do one of two things. The Japanese do it best. You either apologize, or you commit suicide." THIS WAS SAID BY A REPRESENTATIVE! (Excuse me. That was Senator Grassley (R). You ought to be ashamed of yourself!)

Well, Sir, why don't YOU? I've had it! All of these people in gov't, left and right, are only seeing the polls. Why they are not standing up for capitalism I will never know. Why they do not point the finger where it truly belongs (at gov't), I will never know. Maybe they have no balls. What do you think, gals?

Let me put it to you square between the eyes. Gov't cannot tell us how to run our businesses. If they do, that is a fascist system of governance. If the state or the feds own our businesses, we have no Liberty. Why do you think we are having all these Tea Parties? It is Not only because of high taxation without representation. It is also because we are tired, on both sides of the aisle, of our representatives not listening to us. We do not exist except between May-June for primaries (in California) and September-November during the general election. Well. I refuse to not be heard. How about you?

President Obama, you promised an open government. You promised we would be able to see what you were doing with our money for five days before you signed any bill. What happened? Didn't you want us to know that you already knew that AIG had these contracts and there was nothing you planned to do about it except use it for another campaign stunt? WE KNOW WHAT YOU DID, and we are not pleased.

UPDATE: Sen. Chris Dodd (D) inserted into the porkulous bill an exemption for all contractual bonuses that were in effect before February 11, 2009. How's that for Demagoguery? Indignant indeed.

I was reading this article in the Wall Street Journal opinion section this morning, and finally, someone else gets it.

The Real AIG Outrage.

...Given that the government has never defined "systemic risk," we're also starting to wonder exactly which system American taxpayers are paying to protect. It's not capitalism, in which risk-takers suffer the consequences of bad decisions. And in some cases it's not even American. The U.S. government is now in the business of distributing foreign aid to offshore financiers, laundered through a once-great American company.

The politicians also prefer to talk about AIG's latest bonus payments because they deflect attention from Washington's failure to supervise AIG. The Beltway crowd has been selling the story that AIG failed because it operated in a shadowy unregulated world and cleverly exploited gaps among Washington overseers. Said President Obama yesterday, "This is a corporation that finds itself in financial distress due to recklessness and greed." That's true, but Washington doesn't want you to know that various arms of government approved, enabled and encouraged AIG's disastrous bet on the U.S. housing market.

Scott Polakoff, acting director of the Office of Thrift Supervision, told the Senate Banking Committee this month that, contrary to media myth, AIG's infamous Financial Products unit did not slip through the regulatory cracks. Mr. Polakoff said that the whole of AIG, including this unit, was regulated by his agency and by a "college" of global bureaucrats. [Continue reading.]

The gov't needs to stop digging the whole they've gotten us into. They need to turn back, shut up so the stock market can gain confidence (because when you talk about taking control of everything you scare the pants off of everyone, even those who do not own stock!), and be patient. After all, it was the gov't, not the companies, who wrote these bills. If the gov't didn't want bonuses (which they told us they did NOT), then they should have written it into the contracts for when these companies agree to these bailouts. (Again, I bring to your attention Sen. Chris Dodd's (D) amendment.)

Does this mean I love the fact that these people got these bonuses? In a way, yeah. They stood up to the feds and said, "F*** you." It's about time someone did that. Now it is our turn. Are we going to rock and roll or what? Get involved with the next Tea Party nearest you, and let this government know you've had enough. Otherwise, shut up and have a nice day.

Update: I did not want the TERP that President Bush signed. I did not agree with the porkulous bill. I did not want the over $400 Billion that was signed after that. I have been consistent. All of these bills attacked our capitalist system, and that has definitely put us in the wrong direction. We have to do something now, before it's too late. 2010 may be too late...

Update II: Rick Roberts agrees with me! (Get the 5 am podcast for St. Patrick's Day, 17 March 09. It's at the 6 am part when I heard it.) I just heard him agreeing with me. Well. It's good to know I'm not alone. Finally.

Update III: Don't worry. President Obama has agreed to cut spending...for the military. Go figure. How are we going to win this war we did not start? By hiring someone else I'm afraid.

Update IV: Now that I've calmed down a bit, allow me to say this in a better manner. I left out the part Spitzer played. He tried to get rid of every Republican working on Wall Street. Do you those years? He railroaded out of town the CEO who had been there for 40 years while AIG was indeed only an insurance company. After he left three years ago, the Lefties took over and got into the mortgage business. Great timing, eh? Fools.

Sen. Dodd (D) is a disgrace as is Sen. Grassley (R). I assume you meant what you Senator Grassley? Why don't you resign? How dare the government tell anyone to commit suicide! How do you know they are not on the brink of it? Can we hold you accountable if anyone actually does? Of course not. Just like always. AND THAT IS THE PROBLEM!

Sen. Chuckie Shumer (D) has just announced a 100% tax on any and all bonuses. Oh my. He said that if they don't give the money back, the tax will be so that HE can return it to its rightful owners. Umm...when did it EVER belong to you, Chuckie? NEVER. You a**wipe.

I cannot do this in a reasonable manner. I am still so angry that the gov't is using their so-called power to attack individuals and our Liberty. Okay, you want a fight? Hey you. Do you realize that $100 bonus you get from your boss for Christmas? HE'S TAKE THAT, TOO! Do not make the misguided mistake of thinking these taxes only apply to the rich. Just look at the Alternative Minimum Tax (AMT).

I could say more, but the article in the WSJ is pretty good. I have to stop before I really lose it. WATCH OUR GOV'T. They are trying to fool us, do not allow this to happen. Have a good day.

Oh yeah. What business is it of yours how much someone else makes? Really. Do you need to know how much I make? Why? It's NONE of your business. Nor is it my business how much you much. Well, that is, unless I plan on dating you. LOL. (Be still your heart. Ain't gonna happen. lol)

May you walk with the LORD always, and when you cannot take another step, may He carry you the rest of the way until you can walk along side Him again.