My fellow Americans, please kindly fetch your pitchforks and burning torches.
We're heading over to Tim Geithner's place…
Treasury Secretary Timothy Geithner told CNN Thursday his department asked Sen. Chris Dodd to include a loophole in the stimulus bill that allowed bailed-out insurance giant American International Group to keep its bonuses.
In an interview with CNN's Ali Velshi, Geithner said the Treasury Department was particularly concerned the government would face lawsuits if bonus contracts were breached… Geithner told Velshi Thursday he takes full responsibility for the situation.
What's the appropriate etiquette in such financial matters? Drawing and quartering or burning at the stake?
Oh, can we do both? I wish we could do both.
Tags: AIG, Chris Dodd, Economy, Obama Administration, Senate, Timothy Geithner
We’ve got it all wrong: who cares that AIG paid out bonuses to their executives. They’re executives of a large, multinational insurance company. This is what they do. Would you we blame terminators for hunting man? No.
The CEO of AIG, a fat man in a suit, is in congress today, talking to other fat men in suits. They’re all born-again populists, those fat men in suits. Everybody is a populist these days. Populism is the new bling.
The word around Washington DC, that magical, marble city of too many pigs at too small a trough, is that President Hopemonger is angry at Secretary of Moneybags for not realizing that executives do things like hire lawyers to write contracts that guarantee large bonuses from companies they help destroy.
But here’s the thing: the millions of dollars paid out to these AIG executives are going to stimulate the economy. True story. Those flush executives support multiple, important industries that need your tax dollars. The economies supported by AIG executives include, but are not limited to…
* The Large Novelty Champagne Bottle Union
* The Yacht With Helipad Industry
* The White Slave Trade
* The Delicious Goose Torture Guild
* The Monocle Manufacturers of America
* United International Tax Shelters
* The We Raise Your Spawn While You Cook On The Beach Union
* The Old Money Country Club Club
* The South of France
Now, don’t you feel stupid? Criticizing AIG executives for taking a taxpayer bailout, then turning around, and doling that money out as bonuses is possibly the best thing that could happen to the US economy. These capitalistic supermen should be thanked, honestly.
Haven’t you people ever read The Atlashead?
Tags: AIG, Economy, Edward Liddy, House of Representatives
Daily Kos' Scout Finch is Twittering Congress' spank-down of AIG's CEO Edward Liddy — currently in progress — and I'll be honest with you and mention that most of this economic stuff makes my eyes roll backward in my skull out of sheer confusion and my opinions change approximately every 32 seconds.
But this Tweet from Scout amused me and put things into a slightly sharper focus…
Wall Street to America: I drink your milkshake…..I drink it up!
That, I understand. It's from that movie No Country for Old Men, right? The Michael Clayton character says it to that smart-talkin' pregnant teen girl just after she climbs out of the fountain, right?
Yeah, I thought so. I'm clever.
(While we're on the subject, here's Scout's post from Sunday on what the hell's going on with Twitter all of a sudden.)
Tags: AIG, Daily Kos, Economy, Edward Liddy, House of Representatives, Twitter