House Approves Bill to Reclaim AIG Bonuses through New Tax

[elvis]

fucktards!

How about Phil Gramm? How about an administation that did nothing for eight years? Baby, the American People believe, by something like 82%, that these miscreants at AIG not only deserve no bonus, they should be doing time for their greed screwing the system for the rest of us.

That would be IGNORING the 3 times that Bush and McCain tried to put the breaks on and Dodd and Frank prevented him. But hey you keep reciting your tired old lies, maybe some dumb shit will actually believe you.

chris believes him.

 

[Kevin_Kennedy]

How about Phil Gramm? How about an administation that did nothing for eight years? Baby, the American People believe, by something like 82%, that these miscreants at AIG not only deserve no bonus, they should be doing time for their greed screwing the system for the rest of us.

I need somebody to explain to me how it's ok for Obama to do unconstitutional things because Bush did them? Yes, the American people believe that AIG doesn't deserve these bonuses, and so do I for that matter, but that's the mob mentality and the government is using that as justification for going against our Constitution. The Constitution is the law whether a majority of Americans are looking for blood or not.

Why don't you look at the mail that the reps and senators are getting. If it is unconstitutional to put a special tax on these miscreants, then it is time to tax all income above a certain level at a much higher rate untill the message gets through that a certain amount of ethics is expected of people handling the till.

What does the mail of Congressmen and Senators have to do with this?

Why should people who earn a certain amount of money be taxed as a punishment because of AIG? Also, it would still be unconstitutional because it's a bill of attainder and an ex-post facto law, and the federal government doesn't have the authority to break private contracts. Thirdly, the only miscreants are those in the federal government that stole that money from us in the first place, not the people in AIG who had their contracts made out before this happened.

 

[RetiredGySgt]

How about Phil Gramm? How about an administation that did nothing for eight years? Baby, the American People believe, by something like 82%, that these miscreants at AIG not only deserve no bonus, they should be doing time for their greed screwing the system for the rest of us.

That would be IGNORING the 3 times that Bush and McCain tried to put the breaks on and Dodd and Frank prevented him. But hey you keep reciting your tired old lies, maybe some dumb shit will actually believe you.

And then ugly reality shows what a dumb shit you truly are;


October 23, 2008
By Keith Koffler
Roll Call Staff


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President Bush during his first term aggressively sought to loosen mortgage loan qualification standards for first-time homebuyers, seeking to reduce or even eliminate down payments for those who might otherwise have trouble affording their loans.

The White House has pushed back hard against charges that Bush policies led to the current financial crisis, pointing the finger squarely at Congressional Democrats for refusing to rein in Fannie Mae and Freddie Mac. But Bush’s own efforts to increase homeownership among those who could least afford it — an initiative ardently backed by many Democrats — added risk into the system that contributed to the current problem, critics say.

“Politicians in general and Bush in particular all grossly overestimated the benefit of encouraging homeownership by younger and low-income people,” said Joseph Gyourko, chairman of the Wharton Real Estate Department and director of the Samuel Zell and Robert Lurie Real Estate Center. “I think it did lead to some unwise decisions. Equity is, at the end of the day, the only thing that disciplines any investment.”

The inability of millions of homebuyers to afford their loans is at the center of the current financial and economic crisis, which has featured the downfall of major banks that lent to the wrong people and the demise of storied Wall Street brokerage houses that traded in mortgage-backed securities. While many other factors played a role in concocting the current economic mess — including deceptive practices by certain lenders — the failure of many consumers to estimate what they could afford and the assumption prices would just keep going up is a critical part of the equation.

Bush’s efforts to increase homeownership became the core of the “ownership society” that he sought to promote as he ramped up his 2004 re-election bid. Bush pitched the idea as a way to strengthen the country by making people a part of its success.

“The more ownership there is in America, the more vitality there is in America and the more people have a vital stake in the future of this country," he said in June 2004.

The homeownership campaign was particularly geared toward blacks and Latinos, groups with lower-than-average incomes who — especially in the case of Latinos — the president was hoping to attract to his reelection bid.

Experts Fault Bush’s Mortgage Strategy - Roll Call

AND yet 3 TIMES after it became apparent it was a problem Bush and McCain TRIED to put in more regulations and Dodd and Frank successfully opposed it. Hell Frank insisted on National TV in the spring of 2008 that the Housing market was JUST fine.

 

[Skull Pilot]

Best of the Web Today: The 102% Tax - WSJ.com

So now the government will not only take back the bonuses through an unconstitutional action but they will take more than the bonuses were worth.

 

[KittenKoder]

Best of the Web Today: The 102% Tax - WSJ.com

So now the government will not only take back the bonuses through an unconstitutional action but they will take more than the bonuses were worth.

You expected something better from a pop star run government?