AIG announced that it was paying bonuses to top executives totaling $165 MILLION. For what? Running the company into the ground. Of course, if AIG was a private company, held by private stockholders, they could do whatever they want and risk being punished by the market. Unfortunately, all of us lowly taxpayers are the ones who are being punished because Barack Obama and George Bush handed AIG $200 BILLION of YOUR money. It’s not over yet.
Congressman Barney Frank was beside himself, stating that since the government now owns AIG, they should start acting like owners. What business experience does Frank have that would be helpful here as an “owner” of AIG? NONE WHATSOEVER. Barney Frank’s only business experience is that his boyfriend once ran a gay prostitution ring out of Barney Frank’s apartment.
Meanwhile, Barack Obama and his tax cheat Treasury Secretary, Timothy Geithner knew all about the bonuses before they pledged another $30 BILLION of your money to AIG. Remember, Nancy Pelosi defended Geithner during the confirmation process, stating that he was “too big to fail”. Big or not, in his short time as Treasury Secretary Geithner has failed miserably. He needs to go away.
Right now the Obama administration is twisting in the wind as much as the Bush administration. They have no idea what to do, except to throw more of your money at failed companies with brain dead management. It needs to stop.
Frank, Geithner, Pelosi... These are the people running your country, spending your money, and ruining the lives of you and your children. How much more of this can we take?