U.S. Government Threatens AIG

Government Leaders are furious regarding recent news that bailed-out company, AIG is issuing $165 million in bonuses.

Congressional Democrats vowed Tuesday to all but strip AIG executives of their $165 million in bonuses as expressions of outrage swelled in Congress over eye-catching extra income for employees of a firm that has received billions in taxpayer bailout funds.

House and Senate Democrats were crafting separate bills to tax up to 100 percent of generous bonuses awarded by companies rescued by taxpayer money.

Great… this is exactly what the United States and it’s free market economy need: the Government stepping in and deciding how much people get paid to do their jobs.  Here we go… deeper and deeper into the rabbit hole.

So Congress is drafting up a bill that allows them to take 100% of bonuses from federally bailed out companies.  Is anyone else absolutely terrified by how close this is to Congress taking 100% of bonuses from any company they wish?

This is exactly why I was skeptical about all this money being used to bail out companies.  I never believed the line, “these companies are too big to fail.”  If a company needs to fail, it needs to fail.  Period.  It may suck in the short term, but things like this would not happen.  If the U.S. government had just allowed AIG to fail (which was what should have happened), then this miss use of taxpayer money wouldn’t have even been an issue.

Instead…  The government stuck their nose in… passed a half-assed “stimulus package” and are now upset that the company is spending taxpayer money un-wisely.  Well duh.  Any 7 year old child will tell you that if you give somebody who wastes money more money… they are going to (you got it) WASTE IT.  Imagine that.

The most annoying thing about this whole situation is that the government could have prevented these bonuses ahead of time with proper planning common sense, but instead rushed the whole “bail out” process through, without putting proper restrictions on how the money could be used.  Now they are now frantically trying to rush another bill through to fix the problem that could have been avoided had they not rushed in the first place.

If congress had just taken the time to do it right the first time, they wouldn’t have to scramble to try and fix things with another bill that will (in the end) likely cause more problems in the future than it actually fixes.  How about we take the time to focus on these bills to make sure they are concise and with as few loopholes as possible before sending them to the White House for a signature?  Isn’t that Congress’ job?

The way I see it, Congress is not doing their job, and they are wasting taxpayers money… and check this out… less than a month ago, they awarded themselves $400 million in what is possibly best described as “bonuses.”

So… my question is… If Congress is up-in-arms about AIG wasting taxpayer money on bonuses, who is up-in-arms about Congress wasting taxpayer money on bonuses?  Remember that it’s only through Congress that AIG had access to taxpayer money in the first place.

So when you really think about it, who is more inept:  The executives at AIG?  Or our Representatives in Washington D.C.?  I challenge every American citizen to watch this situation like a hawk.  AIG isn’t the first (and won’t be the last) company to miss use these taxpayer moneys.  As much as the media and our politicians may try to deflect the issue onto AIG and others, remember that they were the source of the money in the first place.  Hold Congress and the Obama Administration strictly accountable for their failures in appropriation of taxpayer money… and remember these ridiculous debacles the next time you step into a voting booth.

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4 Responses to “U.S. Government Threatens AIG”

  1. Awesome stuff. Keep up the great work.

    • As long as our government continues to create messes, I’ll be here blogging about it…

      =/

      Thanks for the feedback!

  2. […] the Democrat Cookie Crumbles… So, this AIG backlash is really starting to catch momentum.  People’s outrage just continues to snowball, and I have a real good feeling that more than […]

  3. […] this AIG backlash is really starting to catch momentum.  People’s outrage just continues to snowball, and I have a real good feeling that more than […]

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