I am really tired of this subject. AIG was not the only financial company to reward failure. Lehman Bros did too. Hell, I would be willing to bet all if not most of the banks and financial houses did prior to putting their hand out for that corporate welfare check.
Timmy Geithner needs to set the record straight on what he knew and when. Chris Dodd needs to name the 'administration official' that told him to change the language in the stimulus bill from wiping out all bonuses to letting a few of them slide through.
So what did the folks in the House of Reps do today? Why they passed a bill that smells totally illegal and unconstitutional..it taxes anyone that received a bonus or will receive a bonus...to the tune of a 90% tax rate. Retroactive legislation is rarely legal...they should know that. It was pure unadulterated theater folks! From CNN:
The measure would tax individuals on any bonuses received in 2009 from companies getting $5 billion or more in money from the Troubled Asset Relief Program, or TARP. Bonuses for people with incomes over $250,000 would be taxed at a 90 percent rate.Yes we are outraged...but I think we are pissed at the wrong people...Timmy G and Benny Bernanke should be higher on our shit list than the folks that took the bonuses their companies were contractually obligated to pay.
Timmy has been on the side of the carpetbaggers since day one. Five bucks says he is the one that told Dodd to remove the section prohibiting bonuses.
And Bernanke knew about these fucking bonuses for months and never informed anyone in the new administration? WTF dude? He just moved up my shit list too.
Friggin carpetbaggers, and their friends in high places...kiss my brown ass. I hope all your names are released publically and you are shamed into returning those bonuses.
As for Benny and Timmy..they need to resign their posts...but they won't. Obama can fire Timmy, but not Bernanke.