Posted by
Jennine on Wednesday, March 18, 2009 8:20:15 PM
Congressional hearings are always narcissistic theater, but the AIG hearings rank among the most abusive and unfounded hearings ever held. Today Congress is insisting that I be outraged that AIG executives received $165 million in bonuses, even though these bonuses were the result of legally binding contracts, and the Federal Reserve, Treasury Department, Congress and the Administration knew they were going to be paid. I am upset by these bonuses, but my outrage is targeted with lazer precision on Congress and the Administation. First, compared to what Congress expects us to pay for pork and pet projects that benefit few if any Americans, $165 million is literally peanuts. Today Congress played Gladiator to AIG's Christians. With malice aforethought, Congress called hearings to divert attention from themselves by throwing raw meat to the American public. Unfortunately, it appears the masses are biting. Instead of being furious at Chris Dodd, who was responsible for putting provisions in legislation allowing the bonuses, everyone is mad at the people who received the bonuses they had been promised. We need to focus our attention on the people who are responsible for this ill-conceived bailout, and holding them accountable for the entire stimulus nightmare.
Two Senators deserve more than outrage. Senators Chuck Grassley and Barney Frank have behaved in a dangerously hypocritical manner. When Senator Grassley encourages, angrily, AIG executives to commit suicide, why is there no outcry for his resignation? This is the most egregious behavior I have witnessed. During the current financial crisis there have actually been suicides. Suicide is a tragedy that affects everyone who knows the person in a devastating and personal way. Now Senator Grassley says he didn't literally mean that these people should kill themselves, but I can't imagine what else he could have meant. He spent some time explaining Japanese honor and suicide, so it wasn't an impulsive off-the-cuff comment. He had thought this through and sounded very convincing that this was the proper course of action. In 2008, Senator Grassley secured $308 million in pork for his beloved state of Iowa. Since this is almost twice the amount of the AIG bonuses, and benefited so few, what would be the proper course of action for Senator Grassley to take to apologize for his outrageous waste of taxpayer money? I suggest resignation, impeachment or at the least getting voted out of an office he dishonors with his rhetoric. I do not recommend suicide.
I suggest the same fate for Barney Frank, that is resignation, impeachment and/or getting voted out of office. Today he demanded names of each person receiving a bonus. Even after the AIG CEO read a letter from a deranged citizen threatening death to these Congressional scapegoats and their families, and asked that names be kept confidential to protect the evil bonus acceptors, Barney refused to guarantee anonymity. Barney, who should have the Fannie Mae and Freddie Mac debacle laid at his feet, to say nothing of the earmark he inserted for his own personal pet bank in Boston, needs these names to offer up each time someone gets too close to his culpability. I do not hear Barney showing the same outrage for the excessive salaries and bonuses of the above mentioned Fannie Mae and Freddie Mac Administrators.
Americans, take a close look at the results of Congress taking control of private enterprise. How much money was spent by the taxpayers for this hearing? How many more will follow in the fervor of Congress to demonize everyone involved in the financial meldown? Except themselves, that is. If today's circus doesn't scare us away from additional bailouts I don't know what will. No good will come from the continuing bailouts and nationalization of industry. Stop the madness.