Editorials published by the Goffstown Residents
Association are written by various members and
contributing non-members of the GRA.

   
March 27, 2009
EDITORIAL
 
The hypocrisy of Obama and the Democrats
Contracted bonus payments were allowed under bailout bill - and they all knew it


We are totally amazed at the uproar over the payment of bonuses to the AIG employees. The irony is the outrage voiced by Congress and the Obama administration. It is they who initiated and approved the entire stimulus fiasco, including bonuses! 

The AIG hearings by the House Financial Services Committee and its unrelenting criticism of the new dollar-a-year, government-approved AIG CEO, Edward Liddy, is almost unbearable to watch. This unprincipled band of lawmakers led by Barney "Don't touch my Freddie and Fannie" Frank, have taken politics to a new low. Along with other Congressional and Senate Democrats, and President Obama himself, they specifically allowed the AIG bonuses to remain in the quickly passed stimulus bill. So Obama and the Democrats not only knew about the bonuses ahead of time, they could have prevented their payment. But now, Obama says he "was stunned" when told of the bonus payments, and some House members are calling for "piano wire" to be put around the necks of the AIG employees, or other forms physical punishment. As irresponsible as AIG was in paying the bonuses, a government as inept and increasingly populist as ours is much scarier.

Two things we found incredibly distasteful. One was that the initial bailout bill specifically had provisions not to pay any bonuses to AIG employees. But that provision was taken out by Sen. Chris Dodd, D-Conn., and eventually passed by this very Congress. This cloak-and-dagger bill was formulated behind closed doors by the leaders of the Senate, the House and the current administration, who all knew very well that the bonuses, as stipulated by contract, were going to get paid. Now, in their incredulous manner of superiority and arrogance, they are plastering the airwaves with such filth that the FCC should ban it from showing.

Dodd is one of the terrible duo along with Rep. Barney Frank, who told the American public a year before the mortgage collapse, "Nah, Fannie and Freddie are fine! Keep investing!" Yes, these are the people Obama told to fix the economic mess.

We don't know about you, but we're ready for another tea party. To say Congress is hypocritical would be an understatement. 


 

 


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Copyrightę 2008, Goffstown Residents Association.  All Rights Reserved.