Latest Bail Out Crap

Listening to all the politicians trying to place the blame on someone for allowing AIG to pay out huge bonuses is a joke.
Why on earth would they believe that the bonuses would not be paid? Reading the paper today it sounds like the way the tax law is written, these guys get a tax break on the first $50k of their bonus. This is outrageous, for those of you who earn a commission check every month, you know what I am talking about, when after taxes and FICA and Medicare we have 40% of our check taken from us. I think we should just let AIG sink and go in the crapper! If they fail, someone will come along and replace them. If the law makers can not see their way clear to do this then then need to subtract the bonuses AIG paid out from the next "Sticking it to us" payment and then give AIG the legal tools to recover the bonuses on their own. If they need the money that bad they will figure it out, additionally it sounds like many of these Bonuses were paid out as retention incentives and some of the recipients of these bonuses are now gone. If AIG did not build a condition into the bonus that the recipient had to stay on board for a given amount of time then they were really stupid. Even companies that offer tuition assistance programs for their employees have a stipulation that say you must stay with the company for a given amount of time.

Now a bit on Chris Dodd, this man needs to go. I watched several of his interviews and when asked about the bill and the amended bill he kept saying he did not write the amendment and that he was told "these amendments must be in place" but he avoided saying who was responsible for the amendment, and almost tried to imply that he did not know what was going on. Well it is his job to know! Why did he and the banking and finance committee not put these financial and insurance institutions through the same level of scrutiny as they did the automakers? The automaker have a greater chance to have a positive impact on the economy than the banks do. We bailed Chrysler out in the 80's and they paid their loan off early and the government made a profit in the process and jobs were saved.

We have lost many of our manufacturing jobs to overseas labor because of the Wal-mart's of the world that bring all their vendors into a room and mandate what they will pay for a product. Leaving the vendor no choice but to go to China where the wages are much less. Well if we want to save American Jobs, we as consumers need to be willing to pay a little more for the products we buy. Americans as a people are "High Maintenance" we don't want to pay a nickel for anything but yet we want everything. Our wages impact the cost of goods sold, and as long as we demand high wages the cost of good will be high and if we are not willing to pay for it, then China will continue to gain our jobs.

In the past our path to recovery came from manufacturing, how is this going to happen now when a good portion of the manufacturing of our day to day goods come from overseas.

I am going to close with this comment that should make you very angry.


EVERYONE THAT VOTED FOR OBAMA SHOULD BE ASHAMED OF THEM SELVES!!

As I said to people who know me before the election Obama does not have the experience required to lead us out of this mess and the crew that he has brought in with him are crooked.

The only thing they are stimulating is my outrage. For all our sakes I hope I am wrong.