The truth just slipped out


Pretty amazing truth too
Great piece in Bloomberg here. Emphasis added, emphasis on name links removed.

An administration official said staffers pointed out the original language could be legally challenged. The administration didn’t insist on the change, the official said, speaking on condition of anonymity.

Several lawmakers said yesterday they were concerned the outrage over AIG would undermine public support for the Obama administration’s response to the worst financial crisis since the Great Depression.

The bonus decision “may jeopardize our ability to get the majority of this Congress to support further largess, to provide funds, to prevent a recession, depression or meltdown,” Representative Paul Kanjorski, a Pennsylvania Democrat who heads the capital markets subcommittee, said as AIG Chairman Edward Liddy testified before his panel yesterday.

Hat tip Brad at WendyMcElroy.com.

All right. Let's recognize a few things.

From tracking where the money went, the emphasis was never on saving the company. Even with Bush, it was about directing money where the two administrations wanted it to go. Something patently illegal under Federal law. And something that the all the FedGovs, from the President to the Congresscritters to the lowly accountants buried in the Treasury building are hoping desperately you won't notice.

That's why there is fuss over the bonuses. That's the distraction.

So as a taxpayer, you need to ask yourself, what was the benefit to you in bailing out AIG?

From there, it's very easy to jump to the next question.

As a taxpayer, what was the benefit to you in bailing out any of the banks and companies?

Why not just let them go under?

It certainly would have been cheaper!

— NeoWayland

Posted: Fri - March 20, 2009 at 12:04 PM  Tag


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