United Steelworkers President Leo Gerard likes to say that Washington policymakers “treat the people who take a shower after work much differently than they treat the people who shower before they go to work.” In the 21st century Gilded Age, the blue-collar shower-after-work crowd is given the tough, while the white-collar shower-before-work gang gets the love, and never before this week… return to article
-
subscribe to print magazine
-
email this article to a friend
-
Reader Comments (3)Page 1 of 1 pages(I had already posted this with the question of the week, but it fits here as well.)
AIG, even though a disgusting situation, is just a diversion from the real issue — the stupidity or complicity of Congress in the largest ever financial scam in history.
The individuals in the money center banks, the rating agencies and oversight committees are getting off scot-free. Dodd, Franks, Paulson, Greenspan, Geithner… the list seems endless.
The U.S. Congress needs to be 90% impeached! These contracts were allowed to pass unchallenged, some in legislation which those who voted on it had no time to even read beforehand.
The “correction” now being proposed is clearingly unconstitutional to anyone who can read: Article One, Section 9 — “No Bill of Attinder or ex post facto Law shall be passed.”
These members are clearly grandstanding and the insults to the American Public is only surpassed by the embarassment they are causing us before the rest of the world!In a just society they would be laughed out of office, or better still, riden out on a rail.
These retiainment contracts were made between individuals and AIG (same for the other companies) NOT with the US taxpayer.
AIG made contracts with those who they insured also. None of these could be honored and would therefore become void if not for the government offering each of them $billions.
Withdraw all gov. funds, let the retaining bonuses expire — then address the insolvency as the toxic assets come due rather than all at once. These documents were instituted over a period of years and are not all in default at present.
This is largely a manufactured “crisis of political opportunity”.
Posted by whattheheck on Mar 20, 2009 at 5:58 PM Addendum to prior comments:
While we are cancelling contracts we need to renegotiate the contract with members of Congress. They just got a pay raise. They have benefits and pay far exceeding their worth to the American people.
If they work for us (well, that’s another debate issue) they should not be allowed to set their own pay packages.
Posted by whattheheck on Mar 20, 2009 at 6:04 PM Everyone MUST SUBSTITUTE the word government for the word taxpayer in order to find the truth in every single republican canard spoken since July 1980
Posted by bigbrass1s on Mar 22, 2009 at 6:15 AM Page 1 of 1 pages -
register a new account »Posting Security
Also by David Sirota
- Colbert Conservatism
- Intelligentsia Against Intelligence
- Where Are the Real Deficit Hawks?
- We Are What We Trade and How We Trade It
- TARP on Steroids
- A Party With No Punch
Three parables for progressives and the Grand Old (Democratic) Party.
Popular Discussions
- The 9/11 Faith Movement
Many Americans believe 9/11 was a conspiracy by the U.S. government
1979 posts since Jul 11 06 - What’s the 411 on 9/11?
891 posts since Dec 21 05 - Democrats: It’s the War
659 posts since Nov 1 05 - Was the Presidential Election Stolen?
462 posts since Jun 19 06 - A Fundamental History Lesson
The rise of National Socialism proved politics and religion don't mix
427 posts since Oct 10 05
© 2009 In These Times | Reprint Policy | Privacy Policy | Powered by Expression Engine | RSS Feeds
