Are you outraged about the AIG bonuses? Have you thought about why? Have you thought about what it means to be outraged at someone else's employment bonus? Do you understand the concept of a retention bonus? Do you think it is any of the government's business what any company pays its managers or employees? Hopefully, you answered 'no' to at least one of these questions. At any rate, there are a few things going on here that all of us who vote need to be aware of.
My source articles on what I am about to reveal are the New York Post and the website of Glenn Beck. Please read the New York Post and the Glenn Beck information piece for yourself. They are both very revealing.
The New York Post article reveals that the Treasury Department and the Federal Reserve knew about these bonuses last fall. Treasury Secretary Timothy Geithner was head of the same Federal Reserve Bank last fall that supposedly last week told him of the bonuses. Treasury not only never sought to block them - but, in fact, approved them. An unnamed AIG official told The New York Times that the company never would've paid the bonuses without Treasury and Fed approval. This whole passion play may be the setup to make Timothy Geithner the fall guy for all the current administration's problems. I'm not sure he will be in his current position a month from now.
Now, why is the outrage being manufactured? Let's look at some of the other aspects of the AIG bailout and where the money went. The following information comes from Glenn Beck's website.
"$58 billion has gone to foreign banks. Now, why isn't America outraged by that? Because America doesn't know that fact. America isn't talking about that fact. If we would have let AIG fail, then these other banks would have had to come to us and said, hey, what are you going to do on these. And we would have then had to have the discussion, do we send money over to France, do we send money over to Germany, do we send money over to England? And that we couldn't have won. The people in Washington, they would have never gotten that past you."
"So now they're making a big deal out of $165 million in contracts that they knew they were going to have to pay, they left that in there, there's no way out of that unless you allow the government just to make up rules. Contracts are no longer valid, if the congress decides they are not valid."
Do not buy into the phony anger at AIG by the people who set up the situation. Chris Dodd is the Senate member who put a clause in the stimulus saying that all bonuses agreed upon before a specific date would have to be paid. I guess it's pure coincidence that AIG has one of its larger divisions in Connecticut and that they are a major contributor to his election campaigns. If you want to be angry, be angry at a Congress that has no respect for the American taxpayer or his money and does not have the courage to tell you the truth about what it is doing. This whole AIG situation is trumped-up anger to keep you from looking at how much power and how much of your money the government is currently grabbing.
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