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Obama Struggles to Get Out in Front of AIG Outrage

President Obama has gone on the warpath, asking his Treasury Secretary to investigate every possible means to force bailed out AIG to stop paying huge bonuses to executives. The  problem is that his own advisors, including Larry Summers, said only a few days ago that the bonuses were untouchable under contract law.  In other words, the administration knew this move was coming and vastly underestimated the public reaction. That's a blunder.

The Presidency offers a steep learning curve. Even Barack Obama is having trouble mastering it.

  • Mr Smit said:

    How can a company that's was going bankrupt say they must honor a previous contract that would have been completely terminated under bankruptcy proceedings?  They can't.  It's nonsense.  Bring a judge in for a ruling and hold all remaining government funding to AIG, fire these greedy, incompetent, audacious derivative traders and their administrators.  If that fails, shut them down.  

    Why should the US taxpayer support the European banks that followed like drunken horses to the trough of greed.  This country should be borderline revolting against all banks, insurance companies, oil companies, tobacco companies, and don't forget all the bloated paychecks that public service employees are getting with all the "perks and bennies" with little education or training to justify it and I'm not talking about competent underpaid teachers, I'm talking politicians, police (esp. state police) fireman, registry and city hall prima donnas who forget who pays for their jobs.  

    Here's a few novel ideas:

    1) Give all public service jobs to immigrants for minimum wage.  If they work hard and improve the country, reward them with citizenship.  

    2) Shut down the prisons, save a fortune, and give all prisoners a second chance: send them to Iraq, Afghanastan or wherever the next US imperialist invasion ocurrs (Korea, Iran, Russia, China, Granada-hahahha) and if the prisoners can come back alive, then they should be set free. While we're at it take all those fat-bellied lazy public service workers with the attitudes and put them an the same plane as the prisoners and use them to search for minefields.

    Yeah.... you could say I've had it like most of Americans have too!

    March 17, 2009 9:29 AM

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