Tuesday, March 24, 2009
Attacks on AIG are Un-American
Congressional Democrats, led by the Chairman of the House Committee on Financial Services Barney Frank (D-MA), have whipped up a storm of hatred in America towards the AIG execs getting retention bonuses.
Now I, like most Americans, was outraged to hear that AIG had paid these huge retention bonuses out of the bailout money it received from the Federal government. However, it is instructive to know how this came about, and how the Obama regime and Congressional leaders are using it to expand their power.
Obama and Congress knew all about the bonuses, how much, and when they were to be paid out, before the bailout money was given to AIG. Specific language was added to the bailout bill to exempt these specific bonuses from any oversight. This language was added by Sen. Chris Dodd (D-CT) at the direction of the White House. The contention by anyone in Congress or the White House that they did not know of these bonuses is an outright lie by some, and proof that the others didn't bother reading the bill they voted for. They knew about the bonuses, they protected the bonuses, and now they are trying to capitalize on it.
The frenzy of hatred towards AIG that has been fueled by Congressional leadership has a purpose - to gain more power for the Obama White House and the leadership of Congress to sieze and exercise control over more of the American economy.
Legislation passed through Congress to levy a 90% tax on these bonuses is a dagger pointed towards American business, saying that you better do what we want you to or we will take everything you have. Using the tax code to attack a specific group of people is immoral, and probably un-Constitutional.
Legislation being proposed would give the government contrl over executive bonuses and pay rates for financial institutions. In other words, Congress or the President could decide how much money an individual US citizen can earn.
Frank and others have publicly identified AIG execs who received bonuses, making them targets of protest and worse. ACORN, the voter fraud arm of the Democrat Party, has organized bus tours of AIG executive homes in Connecticut, staging protests in front of private homes. AIG execs have had to abandon their homes, or send their families away for fear of their safety. How long before one of these nut cases attacks or kills one of these AIG people because they have been publicly identified? The AIG people have not committed any crime, yet the government has targeted them for retribution of an unprecedented scale.
Tim Geithner is on Capital Hill today testifying before Frank's committee. Instead of getting grilled, he is being protected. When a Republican member of the committee asked pointed questions of Geithner about when the bonuses were known about, Frank cut him off so that Geithner would not have to incriminate himself.
Geithner is asking for more power to sieze insurance companies, financial investment comapnies, and hedge funds that are in danger of failing, unprecedented power that has never been in the hands of the US government before. He is likely to get it, rubber stamped by the Dems in Congress.
This is not the Soviet Union. It is not Cuba. We are not behind the old Iron Curtain. How can this be happening? Obama and his cronies are pushing this stuff through so fast, and cloaking it in so much worked up frenzy, that most of the American people have no idea what is going on. That is their plan - do it fast, do it undercover, and by the time we realize it, it is too late to do anything about it.
This should scare you to death. Our government is very close to having control over most of your life, and most people don't even know it is happening.