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| AIG bonuses conceive public outrage | |
| 2009-03-17 | |
| AIG's move to use taxpayer bailout money to pay lavish bonuses may ignite a public anger that could spread to Congress and the White House. President Barack Obama's economic team is now concerned that a public backlash against the sensitive issue looming at the American International Group could hamper their economic agenda. "We've got enormous problems that need to be addressed," David Axelrod, Obama's senior adviser, said in an interview, according to the New York Times. "And it's hard to address because there's a lot of anger about the irresponsibility that led us to this point." "This has been welling up for a long time," he said. Obama's aides have warned against possible populist anger that could offset the President's efforts in providing more bailout money for the US banking system. "Never underestimate the capacity of angry populism in times of economic stress," said Robert Reich, a professor of public policy at the University of California, Berkeley, and labor secretary under President Bill Clinton. "A big challenge for President Obama will be to maintain a rational and tactical public discussion in the midst of this severe downturn. The desire for culprits at times like this is strong."
The public response regarding the large bonuses made to auto executives who flew on corporate jets to Washington for Congressional bailout hearings, was very severe. "There's unquestionably a strong populist surge out there," said Joel Benenson, Obama's pollster, citing his own polls and focus groups. "It's been brewing for close to four years. For the last two years, Americans were clearly indicating that they believe that one of the biggest obstacles to progress on America's toughest challenges - notably health care and energy independence - was the influence of special interests and corporate interests on the agenda in Washington." | |
| Posted by:Fred |
| #9 Honestly, this is chump change compared to what we've given over to foreign banks via AIG (Deutsche Bank got what, 8 billion, and Societe Generale got maybe around 11 billion.....that's not counting what was paid out to British and Swiss banks). That's your tax money, too. But of course, this is what the press publicizes, because their masters don't want any attention paid to the really huge money. We're being had, boys and girls. |
| Posted by: Cornsilk Blondie 2009-03-17 22:21 |
| #8 Se. Chris Dodd - D- Shitsammich, inserted language that guaranteed those bonuses. Sen "Dirtbag" Schumer's proposal is a bill of attainder and unconstitutional. Lying MFers all of em. Don't listen to the words, watch the hands. Vote them DOWN |
| Posted by: Frank G 2009-03-17 21:01 |
| #7 a) the money has already been disbursed b) to executives who in many cases are not US citizens and do not reside here, so couldn't care less about Congress and c) who threatened major lawsuits if their contracts were abrogated. They probably would win those lawsuits, by the way, and if they did the cost would be over double the total of the bonuses. |
| Posted by: lotp 2009-03-17 20:32 |
| #6 Interesting rationale on the bonuses. They need to keep the same good people who nearly bankrupted the company. I wonder if there is a legislative remedy, if the regulators can't stop this? |
| Posted by: Skunky Ebbusose2105 2009-03-17 16:51 |
| #5 MAY ignite public anger? Even dignified and stoic Senator Grassley is urging them to take the Japanese kamikaze way out! |
| Posted by: Danielle 2009-03-17 12:14 |
| #4 "Obama's aides There Fred, fixed that for ya. |
| Posted by: Scott R 2009-03-17 07:20 |
| #3 Add 10 degrees deflection, drop 9 degrees expectation....fire for effect. |
| Posted by: Besoeker 2009-03-17 07:10 |
| #2 "Conceive"?? I think they mean "spawn". "Generate" or "bring" would probably be an even better choice. Who teaches these Iranian mooks English, anyway? Sigh. |
| Posted by: Scooter McGruder, of the Grammar Police 2009-03-17 05:56 |
| #1 No sh*t, Sherlock? |
| Posted by: g(r)omgoru 2009-03-17 04:52 |