As everyone piles on the AIG bonus story, with $165 million in executive bonuses for an annual loss of $100 billion, the ones I want to hear the least from are Congressional folks (and for that matter, President Obama back when he used to show up once in a while in the Senate) whose financial management of the government makes AIG look downright solvent.
As of today, the federal government is in debt 11 TRILLION dollars! It was 10 trillion six months ago. It was under 6 trillion in 2000. There are no clean hands here.
But listen to these quotes from politicians, and see if we the people couldn’t say the exact same thing about them.
Senator Richard Shelby (R-Alabama) said “These people brought this on themselves. Now you’re rewarding failure. A lot of these people should be fired, not awarded bonuses.”
Senator Jon Tester (D-Montana) said AIG executives “need to understand that the only reason they even have a job is because of the taxpayers.”
Senator Dick Durbin (D-Illinois) said “I’ve had it.” and “The fact that they continue to do it while we pour in billions of dollars is undefensible.”
Representative Barney Frank (D-Massachusetts), Chairman of the House Financial Services Committee, said paying these bonuses would be “rewarding incompetence” and “They don’t have a right to their jobs forever.”
President Obama said “This is a corporation that finds itself in financial distress due to recklessness and greed.”
Sen. Christopher Dodd, chairman of the Committee on Banking, Housing and Urban Affairs. “This is another outrageous example of executives enriching themselves at the expense of taxpayers.”
Dodd also said of the bonuses,”We have a right to tax.”
a RIGHT to tax?
Friends, the federal government is in no position to criticize anyone.