Monday, March 16, 2009

This is what you get

A big story today is that AIG, which, by the way, is now 79.9% owned by the Federal Government, gave out $165Million in retention bonuses. The king liberal today pretty much bashed the company for doing this, however, he singled out CEO Edward Liddy as not having anything to do this.

FoxNews reported today that in a letter to Treasury Secretary Geithner on Saturday, Liddy said, "We cannot attract and retain the best and brightest talent to lead and staff the AIG businesses which are now being operated on behalf of the American taxpayers." This is exactly the same thing that I have said over and over again. The article also says that the White House conducted its own analysis of the bonus contracts and agreed they are binding. So, if you have already looked into it, and agree that these bonuses must be paid, how can you turn around and bash the company for trying to fulfill its contracts?

The reason is very simply this, when the company took bail-out money, they pretty much agreed to fall slave to the whims of the people running the government, right now, the Democrats. He rips this company, however, he wasn't surprised by it. All it is doing is giving him more ammunition to feed the class envy and scare the American people into going along with everything that he wants.

This is all part of his scheme. He is trying to turn our country into a socialist country. Instead of trying to inspire people to do their best and get ahead, he is punishing the people who do well in this country and rewarding those who are expecting the payout for doing nothing. It's all here, in this one issue. AIG has contracts to reward the best and brightest people to try and help it recover, the people who do the best work, and yet, they are the bad guys for trying to do the right thing.

This is exactly how FDR got the New Deal to pass with such ease in the 1930's. It is how the king liberal got the $800Billion "stimulus" package to pass. He even had three Republicans who agreed to it because we needed to do something. Even though doing nothing was better than doing what we did.

One thing that they are not reporting, AIG received about $173Billion in bailout money. They paid $94Billion to other banks they owed money to (of course, most of these banks are in Europe). So, the $165Million is less than 10% (1/10) of the money they received from the government.

Again, they are trying to make the American people mad at the greedy businesses that actually hire people and will be the backboard for getting us out of this recession. Privately owned companies are the ones who hire people. If they are paying more in taxes, because they make more than $250,000, then they don't have as much to pay their employees. Plus, the costs go up, so the price of their products go up. This is how economics works. It really isn't that hard. If we want the economy to grow, do things that will encourage people to better themselves.

The owner of the Miami Dolphins was trying to sell the team when it became apparent that the king liberal was going to win the election. He knew that the taxes were going to kill him. I have read countless other stories where people were trying to renegotiate contracts or other such things so that they would fall below the $250,000 limit for tax cuts so that their taxes would not be raised. This is exactly what I have been writing about. This Administration is bent on punishing people who do well. This is NOT America.

Let's not forget the fact, in all of this, that AIG is allowing $165Million to enter into the economy because the people who are getting these bonuses will now have this money to spend.