House Approves Bill to Reclaim AIG Bonuses through New Tax

[Toro]

It just amazes me that we can find the 435 stupidest people in America and elect them all to the House.

WTF is wrong with these people? Until 2006, day in and day out, the rubes and bumpkins of the Republican Party demonstrated to us that the proper education level for governing the House was grade 8.

Now, you would have thought that things might have gotten a bit better. But apparently, the Democrats looked and said "Ha, we can top that!" Now the drug-addled, brain-dead hippies of the Democrat Party are trying to outdo even the GOP, proving that, yes, you can drive the collective IQ of the chamber even lower.

This has to be one of the stupidest things I have seen in a long time. Why the hell would anyone good bother sticking around at these institutions? And why would any organization even remotely want to take government money now?

 

[manu1959]

It just amazes me that we can find the 435 stupidest people in America and elect them all to the House.

WTF is wrong with these people? Until 2006, day in and day out, the rubes and bumpkins of the Republican Party demonstrated to us that the proper education level for governing the House was grade 8.

Now, you would have thought that things might have gotten a bit better. But apparently, the Democrats looked and said "Ha, we can top that!" Now the drug-addled, brain-dead hippies of the Democrat Party are trying to outdo even the GOP, proving that, yes, you can drive the collective IQ of the chamber even lower.

This has to be one of the stupidest things I have seen in a long time. Why the hell would anyone good bother sticking around at these institutions? And why would any organization even remotely want to take government money now?

it is like watching a car crash in supper slow mo......while the sound track plays over and over.....

 

[Zoom-boing]

It just amazes me that we can find the 435 stupidest people in America and elect them all to the House.

WTF is wrong with these people? Until 2006, day in and day out, the rubes and bumpkins of the Republican Party demonstrated to us that the proper education level for governing the House was grade 8.

Now, you would have thought that things might have gotten a bit better. But apparently, the Democrats looked and said "Ha, we can top that!" Now the drug-addled, brain-dead hippies of the Democrat Party are trying to outdo even the GOP, proving that, yes, you can drive the collective IQ of the chamber even lower.

This has to be one of the stupidest things I have seen in a long time. Why the hell would anyone good bother sticking around at these institutions? And why would any organization even remotely want to take government money now?

Here you go:

545 People Responsible for America's Woes

 

[Article 15]

I feel the same. This sets a dangerous precedent for future abuses of power by the government.

I agree with you Kevin, but IMO this is what should happen when you come to the gov't for money and make a deal with the devil.

But let's point our fingers at the right group of people, and that's the government. It's the government that stole our money in the first place, and this wouldn't even be an issue had they not done so. So to fix the problem that they caused they decide to go against the Constitution in many different ways? I believe, as editec said, that that is far worse than the bonuses.

After mulling this over and getting over my initial reaction of pure outrage, I think you guys are right about this issue.

 

[Midnight Marauder]

It just amazes me that we can find the 435 stupidest people in America and elect them all to the House.

More amazing?




They get RE-elected!




overandoverandoverandoverandoverandoverandoverand overandover again.

 

[Annie]

Communism here we come, oh wait ......

nah this more like a banana republic......passing legislation to encourage a behaviour....having the whole thing blow up in their face......blaming everyone but themselves.....passing bills without reading them to try to fix their mistake....then holding hearings blaming others for their new round of mistakes......then passing laws after the fact to fix yet another one of their fuck ups......

i sure hope this changes soon.......

But unlikely, and noticed awhile ago by some folks who would know:

Comandante Obama - Forbes.com

Comandante Obama
Peter Robinson, 02.27.09, 12:01 AM ET

"But you don't understand," the Colombian said. "We've seen this before."

"He's right, my good friend," the Cuban said. "We Latin Americans know the pattern. Believe me we do."

The American tried to shrug off the Latin Americans' warning. To his consternation, he found that he couldn't. Peron, Fidel, now Chavez, they insisted. The emergence of misrule, corruption and economic stagnation in Latin American nations follows a particular sequence or progression. Now the sequence was unfolding in the United States.

"It starts with a cult of personality," the Cuban explained. "One man declares himself the jefe, the caudillo, the big leader."

Had Obama attempted to instigate something like a cult of personality? The American found the charge impossible to refute. During the campaign, Obama had failed to advance a genuine agenda, instead campaigning on "hope" and "change." In effect, he had asked Americans to turn the nation over to him on blind faith. He would, he promised, transcend racial and partisan divides in his very person.

The One had thrived, moreover, on addressing vast gatherings. In Berlin, he had addressed a quarter of a million Germans. At the Democratic convention, he had given his acceptance speech not in a convention hall before a few thousand supporters, but in a stadium before 80,000. In some subtle but palpable way, the American had to admit, Obama had transgressed our political tradition. He had reduced his supporters to facelessness.

And to an astonishing extent, the American had to grant, the elites--Congress, academics, the mainstream media--had proved only too willing to place themselves in thrall to Obama. On Feb. 17, for example, the president had signed an $800 billion "stimulus" bill, at least three-quarters of which was devoted not to stimulus but to political payoffs. Less than a week later, he had hosted a White House "summit" on fiscal responsibility. Had the press noted the contrast? Had it objected? The very idea.

Let George W. Bush mispronounce a word, and the press would howl for a month. Let Barack Obama offend against language itself--let him suggest that he signed perhaps the most reckless fiscal act in American history as an instance of "fiscal responsibility," engaging in an almost Orwellian example of doublespeak--and the press utters scarcely a murmur.

"After the cult of personality," the Colombian explained, "what comes next is nationalization." Fidel had nationalized the Cuban sugar mills, Chavez the Banco de Venezuela, Morales the Bolivian oil and gas industries.

Obama? He may not have been issuing sweeping diktats. But as the American had to admit, he had already presided over a vast expansion of the federal stake in banks, in the automobile industry and in the mortgage markets. And in his address before Congress, he had proposed a new federal presence in health care, an industry that accounts for a full one-seventh of the economy.

"The last step?" asked the Cuban. "Censorship. It won't be obvious at first--they're always too smart for that. But it will come."

"Never," replied the American. "We have the First Amendment."

"And soon enough," the Cuban said, smiling sadly, "you will also have the Fairness Doctrine."...

 

[Annie]

More:

Tally me bananas - Mark Steyn - The Corner on National Review Online

Tally me bananas [Mark Steyn]
John Hinderaker asks: "Are we a banana republic?"

Wells Fargo didn't want any TARP money, but the government forced it to take more than $5 billion worth, so Wells Fargo employees who receive bonuses would be subject to Pelosi's proposed tax. Say you're a teller at Wells Fargo and you're married to a lawyer who makes $250,000 this year. You get a $10,000 bonus for your good work during 2008. The government steals it all (90 percent federal plus 8.5 percent state plus, unless it's included in the 90 percent, 3 percent Medicare). That is simply insane.

If the Pelosi bill is actually enacted into law (which I still think is doubtful) and upheld by the courts, there is no limit to the arbitrary power of Congress. In that event, we have no property rights and there is no Constitution—no equal protection clause, no due process clause, no impairment of contracts clause, no bill of attainder/ex post facto law clause. Instead, we are living in a majoritarian tyranny.​

In defense of the banks that money was forced upon, seems many are looking to return it, now that the tentacles are becoming clear:

northern trust return TARP - Google News

While it's a mix of links, one can see the 'good banks' through the spin of Barney Frank's machinations.

What happened with Northern Trust, one of the 'targets' since January spun by the Democrats to keep people from seeing what the right hand was doing, is a key example of this.

 

[KittenKoder]

Great ... so instead of punishing people who fuck up, they are going to punish those of us who actually think before we act ... great ... guess I'll just start ordering everything I can from Europe until the next admin and hope whoever is next does it right.

 

[Zoom-boing]

More:

Tally me bananas - Mark Steyn - The Corner on National Review Online

Tally me bananas [Mark Steyn]
John Hinderaker asks: "Are we a banana republic?"

Wells Fargo didn't want any TARP money, but the government forced it to take more than $5 billion worth, so Wells Fargo employees who receive bonuses would be subject to Pelosi's proposed tax. Say you're a teller at Wells Fargo and you're married to a lawyer who makes $250,000 this year. You get a $10,000 bonus for your good work during 2008. The government steals it all (90 percent federal plus 8.5 percent state plus, unless it's included in the 90 percent, 3 percent Medicare). That is simply insane.

If the Pelosi bill is actually enacted into law (which I still think is doubtful) and upheld by the courts, there is no limit to the arbitrary power of Congress. In that event, we have no property rights and there is no Constitution—no equal protection clause, no due process clause, no impairment of contracts clause, no bill of attainder/ex post facto law clause. Instead, we are living in a majoritarian tyranny.​

In defense of the banks that money was forced upon, seems many are looking to return it, now that the tentacles are becoming clear:

northern trust return TARP - Google News

While it's a mix of links, one can see the 'good banks' through the spin of Barney Frank's machinations.

What happened with Northern Trust, one of the 'targets' since January spun by the Democrats to keep people from seeing what the right hand was doing, is a key example of this.

Anyone still wondering why the original language was stripped out of the stimulus package in the first place? Anyone still think it was just a coincidence and/or some kind of miscommunication?

 

[Zoom-boing]

Rep. Waters Demands Obama Clarify AIG Bonus Provision

Rep. Maxine Waters, D-Calif., called on President Obama on Friday to explain what happened when a provision was added to his economic stimulus bill last month that allowed AIG employees to receive $165 million in bonuses.

Waters' comments were the strongest criticism yet from a Democrat over a controversy that continues to grow.

Rep. Waters Demands Obama Clarify AIG Bonus Provision - First 100 Days of Presidency - Politics FOXNews.com

 

[Old Rocks]

and who will you credit?

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.

 

[Kevin_Kennedy]

and who will you credit?

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.

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.

 

[RetiredGySgt]

and who will you credit?

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.

 

[Midnight Marauder]

and who will you credit?

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.

"But MOM, the other kids did it too" is the most infantile and weak, apologist bullshit defense there is.

This is why you don't see Obama, Dodd, Geithner, or any of the other current miscreants using it on this deal. It's all their baby.

Accept it. They have.

 

[KittenKoder]

and who will you credit?

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.

Actually ... the short time the last administration was doing nothing was when they were doing the best thing. Seriously, these are the same policies they enacted that even the Democrats said were bad, now the Dems did a 180 and are following the same failed polices. Hell, the intelligent Republicans attacked Jr when he tried this, but you are all just bowing to Obama for this. Hypocritic, two-faced, bulshit has become the new Democrat stance, and it's going to make it so much worse. When the market stabilizes there will be no money left to invest with, translation: no way we will be able to recover!

 

[manu1959]

and who will you credit?

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.

how about clinton for siging the bill.....how about every member of congres that has been in offcie since then.....fire them all.....

 

[Old Rocks]

Seems to me that as galling as it is that Chris Dodd and Tim Geithner will get fingers shaken at them but otherwise get a pass. . . .

And as galling as it is that it is now clear that President Obama, or at least his top advisors, knew this was going to happen some time ago. . . .

And as galling as it is that all those executives who ran AIG into the ground will be rewarded with millions and millions of dollars for doing that. . . .

There is a larger issue at stake here that should strike fear into the heart of every American patriot.

That issue is that our Congress is presuming to target a specific group for punative taxes, and given the great groundswell of anger out there, probably most taxpayers won't care. But such a move by our government will put all of us at risk. Let a precedent be set for that without challenge and none of us will be safe. A increasingly power drunk leadership from the head down might just exercise additional disciplines as they see fit. And that puts us on a slippery slope that every principle in our Constitution was intended to avoid and could leave us all unprotected and vulnerable.

They can't do this. And we can't allow it.

Telling Liberals they can not do something doesn't worrk, they do not care what you think. They do not care what the Constitution or the laws say, they never have. Those things are for the masses to placate them , the liberals are above such mundane things. They are just looking out for us cause we are to stupid to do it ourselves.

But hey notice how they have completely drowned out the fact that BILLIONS of our tax dollars were sent over seas?

Really? How about the hundreds of billions Bush blew on his war that was based on lies? Where the hell did that money go? And look how Haliburton showed their gratitude. Moved their headquarters to Dubai. No extradition treaty with Dubai.

List of United States extradition treaties - Wikipedia, the free encyclopedia

 

[Old Rocks]

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.

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.

 

[elvis]

Seems to me that as galling as it is that Chris Dodd and Tim Geithner will get fingers shaken at them but otherwise get a pass. . . .

And as galling as it is that it is now clear that President Obama, or at least his top advisors, knew this was going to happen some time ago. . . .

And as galling as it is that all those executives who ran AIG into the ground will be rewarded with millions and millions of dollars for doing that. . . .

There is a larger issue at stake here that should strike fear into the heart of every American patriot.

That issue is that our Congress is presuming to target a specific group for punative taxes, and given the great groundswell of anger out there, probably most taxpayers won't care. But such a move by our government will put all of us at risk. Let a precedent be set for that without challenge and none of us will be safe. A increasingly power drunk leadership from the head down might just exercise additional disciplines as they see fit. And that puts us on a slippery slope that every principle in our Constitution was intended to avoid and could leave us all unprotected and vulnerable.

They can't do this. And we can't allow it.

Telling Liberals they can not do something doesn't worrk, they do not care what you think. They do not care what the Constitution or the laws say, they never have. Those things are for the masses to placate them , the liberals are above such mundane things. They are just looking out for us cause we are to stupid to do it ourselves.

But hey notice how they have completely drowned out the fact that BILLIONS of our tax dollars were sent over seas?

Really? How about the hundreds of billions Bush blew on his war that was based on lies? Where the hell did that money go? And look how Haliburton showed their gratitude. Moved their headquarters to Dubai. No extradition treaty with Dubai.

List of United States extradition treaties - Wikipedia, the free encyclopedia

Clinton also claimed Saddam had WMD's. Did he lie, too?

 

[Old Rocks]

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.

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


October 23, 2008
By Keith Koffler
Roll Call Staff


--------------------------------------------------------------------------------

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