Thursday, March 19, 2009

What They Say About Excuses

They all stink.

"I agreed reluctantly," Dodd said. "I was changing the amendment because others were insistent." Then why the denial?

"We didn't draft these contracts. We've got a lot on our plate. But it is appropriate when you're in charge to make sure stuff doesn't happen like this," he said. "So we're going to do everything that we can to fix it." Once again, it's amateur hour at the White House. The President of the United States doesn't make excuses. The Buck Stops. A lot on the plate? Really? I'm sure nobody expected that would come with the job.

The arrogance of power:

Pennsylvania Rep. Paul Kanjorski, the hearing's chairman, responded to Liddy's statement by arguing that AIG should have refused to pay all the bonuses -- regardless of its contractual obligations with the bonus recipients.

"Let them sue us," said Kanjorski, a Democrat.

So the sanctity of a contract means nothing to this guy?

Grassley and Sen. Max Baucus, D-Montana, on Tuesday introduced a plan that would impose a hefty tax on retention bonuses paid to executives of companies that received federal bailout money or in which the United States has an equity interest. This looks like Ex-Post Facto Law. "But", you say, "ex-post facto only applies to crimes". True enough, but hasn't the administration called these bonuses "criminal"?

And where's the outrage over the Fannie Mae bonuses? Oh, right...big Democrat contributor.


intermodal said...

We discussed the very same thing at the lunch table at work a couple of days ago. Were not the bailouts given to allow the companies meet their financial obligations, and wouldn't that include contracts? These executives have no reason to sacrifice to help congress and John Maynard Keynes save face. Plus a punishment tax made of pure spite is about as un-American as you can get. Usually in the past they've had the decency to lie to our faces about how they "can afford to help more." it may be an obvious lie, but at least it's consistently fraudulent instead of being a new and exciting brand of fraud, now with even more hypocrisy.

intermodal said...
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