Punchinello’s Chronicles

March 24, 2009

The Manufactured Outrage of AIG Bonuses

Filed under: Butterfly Wings — Punchinello @ 6:04 pm
Tags: , , ,

The news has been full of stories about AIG paying executive bonuses. Everywhere we look, we’re told the public is pissed, congress is outraged, and even President Obama is deeply disturbed. Why?

With such intense public scrutiny, the facts have been totally laid bare. There’s zero question whatsoever that congress knew exactly how much money was under contract to be paid to executives. Barney Frank and Chris Dodd knew exactly the amount, the methods, the structure, and the obligations.

Everyone knew all about these bonus obligations. Nobody was surprised. Except you and me. WE didn’t know about them, but we damn sure knew that unless we agreed with the TARP bailout and second bailout, America was doomed! Billions and billions of dollars were handed out as gifts to financial institutions, without anyone even reading the legislation.

And yet, in that legislation the bonus money was spelled out.

Now, a few weeks later, we hear about the AIG executives. They weren’t making money excepting from the bonuses. Their bonus incentives were totally within ordinary bounds of other executives. Even so, people want them lined up against a wall and shot! Bus loads of complete idiots want to picket and protest outside the executives’ homes. Anger, outrage, and a general perception of fairness are everywhere.

Just at the peak of all this anger, public outrage, and pathetic stupidity about how business works, a small story sneaks into the news.

“Treasury Secretary Timothy F. Geithner today told Congress the administration will seek unprecedented power to seize non-bank financial companies whose collapse could jeopardize the economy, a move Geithner said would have allowed the government to bail out insurance giant American International Group at a far lower cost to taxpayers.”

And so, at last the other shoe drops. This is taking place right in front of our eyes! It’s in plain sight, not some hidden, back-room, good-ol’-boy network. The extreme left-wing liberal Democrats in government are moving to federalize private industry!

There’s no way anyone would have agreed to this, even ten years ago. But we have a massive population of utterly ignorant voters, none of whom understand or even care to understand how America works. All they know is they want, want, want, and everybody else has too much stuff! If they knew how to think about any of this, they’re freak!

By drumming up to a fever pitch the class-envy, class-warfare, and anger of the poor people, the new administration prepares the way for the next level of total control. If we allow the government to arbitrarily seize control of AIG, then nothing at all will stop them from seizing IBM, Ford, GM, Chrysler, United Airlines, American Airlines, or any other business they feel like seizing.

All “for the good of the people!”

Do you think Obama’s “change” means converting the United States to a state-controlled nation? If you’re reading this, chances are you have an education. Chances are you actually know a bit about how the country works. You probably know that there’s a Constitution, and generally what it says.

But are you one of those who voted for Mr. Obama, and who voted for an all-Democrat House and Senate? Did you expect to see a power-grab of such an astonishing level as this? Do you expect someday to have your own business?

This is the most incredible proposition to date! If it weren’t for the “angry mob of peasants” mentality, created and fanned into flame by the pathetic excuse for journalistic media we have to live with, there’s no way it would fly! Nobody would dare propose the federal take-over of a private corporation. That’s because nobody would have been stupid enough to hand over $170-billion in FREE money to such a miserable excuse of a company in the first place!

“But they’re too big to fail,” whine the sleazebags in Washington! And the mindless voters nod their heads and have another beer or coffee. And that will be the new criteria: Any company large enough to have a serious negative impact on the economy (the needs of the many), must accept federal regulators who will replace the executive management of that company.

Remember when the American Dream meant putting together a company and growing as large as possible? Remember when the sky was the limit in terms of the great industrialists of the turn of the 20th century? Now it’s “the Government is the limit!”

No more major American companies. If the price of oil hurts “The People,” then Geithner wants the power to take control of the companies! And make no mistake about it, “power” is the word!

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