Posted tagged ‘barack’

Thank Democrats for the AIG Bonus Mess

March 18, 2009

[Updated 03/10/2009]

I’m sure anyone paying the least bit attention to the news has heard everyone talking about how upset they are about AIG and the bonuses they are paying.  It’s understandable…it’s upsetting enough that our government has given them bailout money three separate times.  That AIG thought it would be okay to pay undeserved bonuses with taxpayer money should make any reasonable person nauseated.  Why were they able to do this?

Fingers have been pointed at Senator Chris Dodd lately, attributing to him an amendment to a section in the February stimulus bill placing limits on executive compensations at companies that had received bailout money that exempted any contractually obligated bonuses agreed on before Feb. 11, 2009. Of course Dodd did what any Democrat put in this situation would do…denied responsibility:

“I can’t point a finger at someone who was responsible for putting those dates in,” Dodd told FOX.  “I can tell you this much, when my language left the senate, it did not include it. When it came back, it did.”

(Source)

Now he’s done a complete reversal and admitted to adding this amendment.  His explanation:

Dodd told FOX News that Treasury officials forced him to make the change.

“As many know, the administration was, among others, not happy with the language. They wanted some modifications to it,” he said. “They came to us, our staff, and asked for changes, and the changes at the time did not seem that obnoxious or onerous.”

(Source)

So the Obama administration pushed for this change…  But I thought Obama was supposed to be appalled by these bonuses.  Straight from Obama’s mouth:

“Under these circumstances, it’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay. I mean, how do they justify this outrage to the taxpayers who are keeping the company afloat?”

(Source)

Of course, it’s been confirmed that Dodd is a liar, so can we really believe that he was pressured by the administration to do this?  I can’t wait to hear what Obama has to say about this.  I will be surprised if he doesn’t try to blame it on the Bush administration like he does for all of his problems.  But regardless of what led to the amendment’s insertion into the stimulus bill, the bill was passed with the approval of just about every single Democrat in the House and Senate (and three RINOs) and signed into law by President Obama.  The Democrats put this law into place, and now they are feigning outrage about it.

Now it’s debatable whether or not AIG was actually obligated to pay these bonuses, especially considering that it appears those that received them hardly deserved them:

“A.I.G. made more than 73 millionaires in the unit which lost so much money that it brought the firm to its knees, forcing a taxpayer bailout,” Mr. Cuomo wrote in the letter. “Something is deeply wrong with this outcome.”

(Source)

James P. Tuthill, a lawyer and lecturer from the law school at the University of California at Berkley, had this to say:

Every contract has certain implied provisions and terms that are not specifically spelled out but presumed to be part of the agreement because such terms are so fundamental to a reasonable agreement between two parties. So with a payment of a bonus, it must be presumed that an implied term is the employee won’t destroy the company and shareholders for whom the employee supposedly works. If the employees’ acts have been so contrary to the interests of the shareholders, as is the case with A.I.G., then payment of the bonuses is unconscionable and the obligation can be voided.

(Source)

Others feel that the contracts must be upheld, while still others have mixed feelings on the issue.  Unfortunately, we don’t even know what these contracts said.  For all we know, they could have laid out specific performance requirements that had to be met in order for the bonuses to be paid.

Maybe this “Dodd amendment” was necessary to preserve rule of law or maybe it just provided AIG with an excuse to dole out these bonuses to undeserving employees.  Either way, this issue should have been addressed long before now.  They clearly knew that there was an issue with bonuses, so the Democrats should have at the very least stepped up and said, “look, we’re inserting this provision into the bill because of so and so and we believe it is necessary because of this.”  But, as always, they apparently just thought they could sneak it in there and no one would notice.  That didn’t work out so well, though, and now Democrats are playing dumb and shamelessly jumping into the angry mob when they’re the ones who were responsible for this being written into law to begin with.  Now it’s just a big confused mess of people pointing fingers every which direction and no one knowing what in the world is going on, and we can thank the Democrats for that.  It’s politics as usual in Washington!  Change!  You gotta love it!

Before Obama and his supporters try to claim a stem cell victory…

January 23, 2009

News today is that the FDA has cleared Geron Corp., a U.S. biotech company, to perform the first human trials using embryonic stem cells. They will be injected into eight to ten patients who have suffered recent spinal cord injuries to study the effects. Of course, with this occurring so closely to Obama’s inauguration, it would be easy for many to assume that this is a result of something he has done. It would also make it that much easier for Obama and his supporters to claim that this was an Obama stem cell victory when the next election comes around and everyone has forgotten the details.

Considering this, it is important to point this out now:

But Obama’s ascent to the White House had nothing to do with the U.S. Food and Drug Administration’s granting permission for the new study, Okarma said in a telephone interview Thursday.

In fact, the company says, the project involves stem cells that were eligible for federal funding under Bush, although no federal money was used to develop the experimental treatment or to pay for the human study.

(Source)

There you have it. This development is completely unrelated to Obama, and actually involves stem cells that Bush allowed federal funding for. I have a feeling I may be referencing people to this post many times when the next election campaign rolls around, considering the tendency of Democratic candidates to distort the facts (or just flat-out lie). Anybody remember John Kerry’s claim that Bush banned federal funding of embryonic stem cell research when, in fact, Bush was the first president to allow it? I do, and that’s why I’m acting now to make sure the record is straight from the start.

McCain Doesn’t Know How to Email, But Did That Matter?

November 17, 2008

Too bad I wasn’t aware of this sooner…remember that ad that Obama ran taking jabs at McCain for not knowing how to send an email ( Link )? Well what did that really matter? Does a president need to know how to email? According to a recent article, no. Neither President Clinton nor President Bush (W.) used email while in office, and it’s being suggested that maybe Obama shouldn’t either. Why is this?

The president’s e-mail can be subpoenaed by Congress and courts and may be subject to public records laws, so if a president doesn’t want his e-mail public, he shouldn’t e-mail, experts said. And there may be security issues about carrying around trackable cell phones.

( Source )

I guess it was irrelevant after all. But we already knew that much.

Al Gore to Be Obama’s “Climate Czar?” (Updated 11/13/08)

November 12, 2008

There is supposedly talk in the Obama transition team of creating an Energy Security Council, which would be responsible for overseeing the administration’s policies on energy and climate change. The person that would be in charge of that council is currently being referred to as a “climate czar” and Al Gore is being mentioned as a possibility for that position ( Source ). I think I might throw up. At least it might create an interesting power struggle to give us all a good laugh (if we were to ever find out about it). Everyone knows how arrogant Gore is. How many times has he referred to himself as the “former next President of the United States?” I can see him now in a meeting with Obama and his Cabinet constantly trying to hold the center of attention and run the show because he thinks that’s his sacred right.

gore_fall2

( Image Source )

Update (11/13/08): Teh Resistance has provided an update:

Gore says “No.” Who could blame him. He’s won an Oscar and a Nobel prize while not having to take responsibility for anything. Why put himself in a position where he would have to put up or shut up?

( Source )

I performed a search and found confirmation from the Washington Times:

President-elect Barack Obama’s transition team is flirting with creating a White House “Climate Czar,” but climate change crusader Al Gore says he doesn’t want the job.

( Source )

Some great news in the world of politics for a change! There’s still a downside…Obama is considering creating an Energy Security Council that will no doubt treat the theory of global warming as fact.

I removed my McCain/Palin bumper sticker…

November 9, 2008

As you may have noticed, I haven’t posted a blog since election day. I didn’t think it was really necessary to let everyone know that Obama won. I’ve been thinking about the blog, and I’ve been trying to decide what I want to do from here. Do I want to continue blogging as I have been or will I even be able to stomach keeping up with politics with the Democrats in complete control for at least the next 2 years? The thing about the latter is that I don’t know if I can stomach not keeping up with politics and current events. Those are things that I’ve been very interested in and kept up with closely for the last 4 or 5 years, and I believe it is important to do so. Considering that, I suppose I will keep posting on my blog as usual whenever I see a story that inspires me to do so. But you may see some extended periods of silence from time to time as I take necessary steps back every now and then to avoid frustrating the hell out of myself.

Anyway, as the title says, I removed my McCain/Palin bumper sticker. One of my pet peeves has been seeing people driving around with Kerry/Edwards or Gore/Lieberman stickers years after their losses, and I’m not going to be one of those people. I accept our loss, and I’m going to move on.

As I continue posting here, I believe it is important to show respect for our future president. For the past eight years, I have been absolutely disgusted by the pure unfiltered hatred directed towards President Bush and the ugly names that people frequently call him. If you want to say these horrible things about him in private conversation, that’s fine. But doing so publicly for everyone in the world to hear is a disgrace to our country. This was not simply appalling because I’ve supported many of his actions, but because he is our president and is deserving of the proper respect. I’m not going to suddenly reverse positions now that we have a Democratic president who I took a firm stance against during the campaign. He has been elected now, and he is soon to take office as our president and will be the leader and the ultimate representative of our country.

Let it be clear that I expect to disagree with many of the decisions he makes, and I won’t hesitate to criticize him for those decisions, as I’ve criticized President Bush for some of his. However, the criticisms I make on my blog will be made respectfully.

In conclusion, continue to enjoy (or loathe) my blog. I’ll be sticking around…unless I end up in an internment camp for dissenters.

Oh, come on! It was a joke!

CBS Jumps the Gun, Calls Race for Obama…on Monday

November 4, 2008

It’s nothing new for networks to compete to be the first to call the election, but they usually do so with some kind of integrity…you know…waiting until after the votes have been cast and they actually have a good idea of who won. But not so with CBS. The New York Times published quotes from CBS senior vice president Paul Friedman on Monday, November 3rd, announcing the network’s plan to try to call the race as soon as 8:00 PM (I would assume eastern time).  Only twelve states’ polls will have closed before then, and they wouldn’t even have the full results from those. Not only that, but he decided to go ahead and call the election:

When asked how Katie Couric, who is leading CBS’s coverage, might present the network’s projection to viewers, Mr. Friedman said he could imagine her saying, for example, “Given what we know about the results, or the projected results in various states, it’s beginning to look like it will be very difficult for John McCain to put together enough votes to win this election.”

( Source )

Oh, ok…not “very difficult for blank,” but “very difficult for John McCain.”  CBS sounds a little cocky and a bit anxious, huh?  Nothing like some flagrant liberal bias to set the mood for their election coverage.

Tomorrow is the Day!!!

November 3, 2008

Get out and vote! Don’t worry about what the polls say. Barack Obama is not inevitable. Vote John McCain/Sarah Palin tomorrow, November 4th!

mccain-palin