Congress sure has been having fun, posturing and blustering. You know, the things they do best when they don't know what else to do. It's almost funny. Almost. They have spent most of their waking hours trying to assess blame for the AIG debacle. This has to be done before any real progress can be made in solving the problem.
I am just as appalled as everyone else at the outrageous bonuses that were given to the very people who mismanaged AIG into the mess it's in now. But, really. Much as we want to punish them for their greed, it may have been immoral or unethical but it wasn't illegal. When you get right down to it, the people who are supposed to be looking out for our interests, i.e. our elected officials, were perfectly fine with what was happening for years until we started finding out about all the excesses. It was bound to happen. Greed is never satisfied, always wanting more and more. And, I disagree with Barney Frank, who was asleep at the switch when the first bailout was granted, along with the rest of Congress. He does not need to have the names of the people who received those big bonuses. What would he do with them?
There is one bit of humor to be found, however. Say what you will about Nancy Pelosi, but she managed to stampede a big bunch of Republicans into voting for a huge tax increase on the bonuses. Old Nancy got them to go back on their solemn promises not to raise taxes.
What's done is done. We need to move on and put some new laws in place. I just don't know if our elected officials have enough brain power to handle the situation. It seems to me that we have to take a good, hard look at our own representatives and senators and decide if they are really intelligent enough to make our laws. We have to stop sending people to Congress just because they are good old boys, and get some people in office who can think.
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And, on another subject: Citigroup is planning to spend millions remodeling the office of the big boss and his underlings. I don't know how anyone else feels about this, but the only way I'd support this would be if the offices were in charred ruins from a fire that didn't make the news.
Stay tuned.
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8 comments:
I definitely agree with your last paragraph!
Betty, this is a wonderful post and you got everything right. I would add that we not only need to elect representatives who can think, but have some spine and will vote with their heads and not with their pocketbooks or party affiliation.
there is just so much to be disgusted about these days.
I agree with everything you say. Maybe Barney wants to hit everyone up for a loan :)
Reps and Senator who can think. What a novel idea!!! It's a mess out there and nearly impossible to believe anyone. . . Democratic or Republican. Thank you for some excellet thoughts on AIG and Citibank.
I just hope that what comes out of this is that these loopholes will be closed before loaning anymore money.
Expecting companies that are going under to make responsible decision with money is like asking an F student to tutor.
HAPPY BIRTHDAY, Betty!! (Tues.)
No matter what rules are established, someone will find a way around them. Taxes included. There are two types of humans, the givers and the takers and the takers will find a way to take every time. It's going to make the givers more reluctant to give though now that all this is out in the open. I love your blog!
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