I received an email this evening from one of my US Senators, Robert Casey. Here is a portion of the text:
Dear Friends, It is difficult to quantify the outrage that taxpayers – AIG’s new shareholders – have regarding the bonuses paid to AIG executives. I have included my thoughts in a video statement above. I’ve also included the letter I sent to AIG CEO Edward Liddy demanding answers. AIG must reverse course and do the right thing and forego the bonuses or face legislative action. It’s ironic that he mentions the outrage that taxpayers have…
He certainly didn’t notice it last September with the TARP vote. He certainly didn’t notice it recently with the passage of Porkulus. And he CERTAINLY didn’t notice taxpayer outrage with the recent Omnibus Spending Bill. But he notices when the media bombards us with the story of AIG execs getting bonuses in the amount of one-tenth of 1% of their bailout money?
Yes, Bob Casey is an Obama Butt-Boy.
People who only pay attention to the news from the periphery will find the AIG bonus story reprehensible, and agree with the politicians. But what does all of this signal?
Of course, it’s right out of the Democrat playbook: magnify a problem (the economy) so that it snowballs until it’s nearly out of control, villify certain people in the crisis, and move in for the kill. As I see it, moving in for the kill will involve nationalizing our economy. Senator Casey’s statement that the taxpayers are AIG’s “new shareholders” proves that point.
And by the way, hold on to what’s left of your wallets: there’s a trillion $$$ “stimulus” package on the way.
Is all of this good for the country? Will the stock market gain confidence with all of this? Should US taxpayers be bailing out the rest of the world? And most importantly: how is your retirement fund doing?