Monday, March 16, 2009

AIG Bonuses

AIG Bonuses, the president & congress are complaining bitterly about the bonuses ($168,000,000) handed out by AIG, which has accepted over $150,000,000,000 in bailout money with no end in sight.  I agree that it seems ridiculous to give out bonuses for driving a company into the ground.

But there is another group which has cost this country many trillions in debt who are getting bonuses for their "great" work.  Congress has an automatic pay increase to their salaries every year.  It doesn't matter that they don't deserve it (many people believe one of the major causes for the housing collapse is legislation requiring banks to loan to high credit risk people) or that most businesses are not giving raises to their employees or that country needs the money for other purposes; congress is getting a raise! A GOP senator (Sen. Vitter) introduced an amendment to the $410,000,000,000 pork bill that would have stopped it, but congress did not pass the amendment  (the vote was 52-45 & would have stopped a $4700 pay raise.)  Of course. Nancy P. in the house did not even allow it to come up.

John Adams sings:
I do believe you've laid a curse on North America
A curse that we now here rehearse in Philadelphia
A second flood, a simple famine
Plagues of locusts everywhere
Or a cataclysmic earthquake
I'd accept with some despair
But, no, you sent us Congress.
Good God, sir, was that fair?

Musical: 1776 Song: Piddle, Twiddle and Resolve/Till Then

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