Here's how I understand the white paper AIG just used to convince Tim Geithner that, while the US government can force car companies to cut the wages of line workers, the US government cannot force banksters to cut the wages of the thugs who broke the global financial system...Bottom line: Extortion. "Give us our money, or else."
I say the "or else" part can be solved or sidestepped, if the Obama administration truly wants to do so. I say that even if the threat is real, let 'em do their worst, because it is better to pay billions in defense than one cent in tribute. I say we call the fatcats on their crap.
We own the damn company now. If Geithner won't fire the bastards, then Geithner is part of the problem.
5 comments:
The collapse of the US economy is the number one threat to our national security. Threatening "or else" to our economy if bonuses or retention whatevers are not paid to the creators of this threat is terrorism. Where are these clowns and why isn't Homeland Security picking them all up.
I'm with you all the way on this one! This is a no brainer.
I just heard the excremental Larry 'the world's a shitty place' Summers invoke the 'America is a land of laws' trope to rationalize the payment of bonuses to thieves. They should have let f*cking AIG (an abbreviation for *ssholes in Georgia in honor of its supremely incompetent Atlanta office) go belly up, and pay its creditors directly. Then the bankruptcy judge could deal with the 'bonus contracts'. We see the loss of pensions and medical insurance through the bankruptcy process all the time.
Firedoglake is collecting signatures on a petition demanding that the government tell us where all those billions are going:
http://action.firedoglake.com/page/s/Transparency
"Tell Congress -- no more money for banks until they tell us where it has all gone. We'll be delivering your comments personally to members of Congress this Wednesday, when Barney Frank's Financial Services Committee holds an AIG hearing on Capitol Hill."
old dem
Joe,
I thought the same thing yesterday when I wrote this and the following song SEND IN THE MOBS (see below.)
Somebody knows where some bodies are buried, eh? Edward M. Liddy also emphasized that in order to retain these million dollar “best and brightest” clowns in the Financial Products division, they “also agreed to reduce their salary for the rest of 2009 to $1” – Wow! Now there’s a teaser incentive guaranteed to keep these financial wizards sticking around to fire on all pistons --- in a hush-hush kind of way.
Molly Ivins talked about getting out in the streets, banging on pots and pans.
Send in the Mobs (Special thanks to S. Sondheim and Frank Sinatra)
by 2Truthy
Isn’t is rich?
Why don’t they care?
Kicking folks out of their homes
Made them all millionaires…
Where are the mobs.
Isn't it bliss?
How they approved
Liar Loans for their loot
To the Caymens it moved...
Where are the mobs?
To take down these slobs.
Just when I'd stopped buying Brazilian Cherrywood floors,
Finally knowing interest rates were starting to soar
Making my entrance again to ditch my deadbeat loan
Sure of my (credit) lines...
No one was home.
Don't you love farce? Isn’t it strange.
That the bond insurance they bought
Put crappy loans in “AAA” range.
And where are the mobs
To take down these slobs
Don't bother, they're here.
Isn’t it rich
Isn't it queer?
They’ll still have a house and a car and a career.
But where are the mobs?
To take down these slobs…
Well, maybe next year.
http://tootruthy.blogspot.com/2009/03/aig-executives-score-million-dollar.html
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