The current CEO’nista of AIG is worried for his employees. It appears many are getting death threats as well as some pretty nasty e-mails regarding what some folks would like to do to his employees. Yet another case of blaming everyone for the problems that a few caused; but hey, angry mobs have been doing that for a long time! As for the reasons behind the new hate mail it all goes back to the fact that a key group of employees were paid millions in so called bonuses with the push of a button, after the company went more than broke, using taxpayer money!
In a three ring circus of who knew what first, everyone from Geitner to the President to Bernake all seem to have been dealt different “here’s what you know cards.” Fresh on the heels of signing his new budget that had more earmarks that an eighty year old elephant the President was quick to get out and start doing some major PR. Appearing last night on a late night talk show! He agrees, we should all be mad, but that the contracts allowing the bonuses was already inked long before he could get in there and make changes. Bernake knew, but, hey what could he do!
Congress ever so the Johnny comes lately quickly passed a bill in the Senate which taxes 90% of the bonus. Seems owning 80% of a company doesn’t have the kind of power it used too. Once again the American people are left out in the cold with excuses; very expensive ones at that. Here’s an idea, how about passing legislation that stops this kind of greed for once and for all! But oh, you, but say, that is socialism!! Yeah, it is, but who’s complaining here? Seems that everyone was okay when we threw Habeas Corpus, and our Constitution out the window when we feared something might hider our ability to track terrorist. This attack on our financial system is real, and calls for serious action and not something as meager as sending in the mop squad to try to clean it up so we can return to business as usual! Despite all that you hear, no one is out there talking about changing banking laws, or reeling in an industry that has taken us to brink or financial Armageddon!
For sure, being at the right place at the right time has been very beneficial for a lot of people, but the given attitude put forth toward the rest of the working class has been truly French provincial; “let them eat cake!” Be it begging auto makers or investment security firms, it’s always starts with we deserve the bailout money and to be saved! You will be lost without us!
This past Sunday a New York Times op-ed piece listed Bernie Madoff’s customers as his major accomplices! Citing them as being in the, “how could you be so dumb department?” I mean after all, none of the major brokerage houses or investment firms got caught up in Bernie’s bogus investments! Yes for the little investor star struck with great returns, being whisked off to the beach house for the weekend at Bernie’s it was all a train wreck with a dotted line.
For the rest of us, indignation and the cry of foul play, as well as hang the bums, seems mild at best. Its just a mater of time until the media starts blaming us for the whole mess, and well, whether you agree with that or not will make little difference if you don’t start speaking up now. “Pass the cake please…”