More Obama Administration Screw-Ups

The best part of the article:

As Royce noted, “Some Democrats were aware of the bonuses, and went out of their way to protect those bonuses.” President Obama was one of them, but you would not know it from his dramatic performance on Monday, when he addressed the issue of AIG bonuses. “I mean, how do they justify this outrage to the taxpayers who are keeping the company afloat?” Obama asked. “This is not just a matter of dollars and cents. It’s about our fundamental values . . . excuse me, I’m choked up with anger here.” 
Yet it was Obama who signed the very bill that made the rules for bonuses under TARP, and that bill clearly allowed these bonuses. Obama stumped for it all over the country — but did he actually read it?

What’s going on here?

In Congress, true outrages are not intended to be remedied in realistic ways. Rather, they represent opportunities for politicians — in this case Democrats — to pretend outrage at their own legislation, and then to score points with populist rhetoric.




Filed under economics, leadership/parenting, Link of Admiration, Politics, rant, Social Issues, Two Kinds of People...

7 responses to “More Obama Administration Screw-Ups

  1. Am I wrong that the TARP bill that included these bonuses was signed in October of 08 by Bush? I thought that’s what he was preaching, that we had to save AIG. Obama wasn’t president yet.

    That said, it ultimately comes down to Congress in my mind. If Peloski and Dodd are strung up for this, I’m moving to Canada.

    Oh, wait.

    • chiefmuser

      Nope. You’re right.
      Thanks for setting me straight.

      I still think the outrage is an attempt to look for a scapegoat.

      …so you finally stop by to leave a comment, and it’s to show me up. Nice. 8P

  2. I’m an asshat, what can I say?

  3. I came to tell you that dates were messed up, but it looks like that job was already stolen… So instead I will give you my unasked for opinion. 🙂

    The problem isn’t the money being given, it is that it wasn’t given with limitations. That is generally what people do when they buy into a company, they put restrictions on the company. One such restriction should be a cap on the money that is given for these types of things. I know, you might throw me out for saying that. (It is quite a liberal thought.)

    However, if we pretend it isn’t the government that is buying in and instead make it anyone else in the world most likely (can’t say for sure) you would agree. So, I say the government should do it too…

    • chiefmuser

      I never throw anyone out.

      Well, except spammers.

      But I’m not sure we should even bail out the companies. And the problem with limits is: who sets them? Why? To what standards?
      I do know there are many ways to sidestep market forces; when that happens, things get out of control. Executive bonuses may be one of those things…but I don’t know for sure.
      One thing I do consider to be true, is: I think the limits the Obama Administration wants to set are not due to principle, or they would have done something about it before the outrage. You can say that by acting after the outrage, they are just being responsive to the people…but that’s crap, since the anti-stimulus protests are far more numerous and well-attended than any of the anti-AIG protests.
      I think the Obama Admininstrations “outrage” over the bonuses they actually approved (before they disapproved them) is pure, cynical, hypocritical political power-grabbing.
      It is well-documented that you can get quite a bit done riding on the momentum of hate/anger (“Never waste a crisis,” yanno). I’m upset that the decisions being made all result in an unabated march to socialism, and the causal link between Obama’s decisions and economic recovery are usually tenuous at best.

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