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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on March 18, 2009, 07:59:05 AM
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http://www.examiner.com/x-268-Right-...Bonus-from-AIG
Senator Barack Obama received a $101,332 bonus from American International Group in the form of political contributions according to Opensecrets.org. The two biggest Congressional recipients of bonuses from the A.I.G. are - Senators Chris Dodd and Senator Barack Obama.
The A.I.G. Financial Products affiliate of A.I.G. gave out $136,928, the most of any AIG affiliate, in the 2008 cycle. I would note that A.I.G.’s financial products division is the unit that wrote trillions of dollars’ worth of credit-default swaps and "misjudged" the risk.
The Washington Post reports a "mob effect" at A.I.G financial products division:
A tidal wave of public outrage over bonus payments swamped American International Group yesterday. Hired guards stood watch outside the suburban Connecticut offices of AIG Financial Products, the division whose exotic derivatives brought the insurance giant to the brink of collapse last year. Inside, death threats and angry letters flooded e-mail inboxes. Irate callers lit up the phone lines. Senior managers submitted their resignations. Some employees didn't show up at all.
With the anger and rage that is being exhibited against A.I.G., perhaps the bonuses Obama received from A.I.G. explain Obama's A.I.G crocodile tears.
Now that the Wall street Journal has revealed that A.I.G. paid bonuses of $1 million or more to 73 employees, it's time to ask if recipients of A.I.G. "bonuses," including President Obama, will give what now ought to be taxpayer money back?
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Why post this?
If you don't like the effect of legal campaign financing laws in this country, state why?
To call a campaign contribution a bonus is misleading and incorrect.
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Why post this?
If you don't like the effect of legal campaign financing laws in this country, state why?
::)
Nice to see ya again by the way. :)
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Why post this?
If you don't like the effect of legal campaign financing laws in this country, state why?
To call a campaign contribution a bonus is misleading and incorrect.
Obama is being proven to be the phony liar we said he was. He is a masterful fraud.
Why did he authorize the additional AIG money without putting this language in????
Why did Dodd SPECIFICALLY write in the allowance of the bonus money?????
Give me a break. These two scumbags are as dirty as the AIG folks.
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Why post this?
If you don't like the effect of legal campaign financing laws in this country, state why?
To call a campaign contribution a bonus is misleading and incorrect.
it's a direct lie.
I think it's important to have in mind the campaign support Obama received and to investigate whether he's been giving AIG any undue breaks because of it.
But it's a straight out lie to call it a bonus.
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I think it's important to have in mind the campaign support Obama received and to investigate whether he's been giving AIG any undue breaks because of it.
But it's a straight out lie to call it a bonus.
I think it's pretty obvious.
Alie to call it a bonus? You guys are too kind.
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Why did Dodd SPECIFICALLY write in the allowance of the bonus money?????
Dodd said he never did that. Don't you beleive him?
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it's a direct lie.
I think it's important to have in mind the campaign support Obama received and to investigate whether he's been giving AIG any undue breaks because of it.
But it's a straight out lie to call it a bonus.
Its more like payoff, bribe, protection money, endless bailout promises.
This is a complete joke, Obama is funneling billions and billions of dollars to this company without explanation and he is going to complain abouty 165 million????
Dont you see the shell game they are playing???
Focus on the 165 million they know will get people pissed off, but ignore the HUNDREDS OF BILLIONS that have gone out to other foreign banks with no oversight.
Anyone who falls for this Obama scam is truly a blind fool.
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Dodd said he never did that. Don't you beleive him?
Of course not. He is a liar too in CYA mode.
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Its more like payoff, bribe, protection money, endless bailout promises.
This is a complete joke, Obama is funneling billions and billions of dollars to this company without explanation and he is going to complain abouty 165 million????
Dont you see the shell game they are playing???
Focus on the 165 million they know will get people pissed off, but ignore the HUNDREDS OF BILLIONS that have gone out to other foreign banks with no oversight.
Anyone who falls for this Obama scam is truly a blind fool.
The public is so retarded they probably think millions is more than billions.
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Obama is being proven to be the phony liar we said he was. He is a masterful fraud.
Why did he authorize the additional AIG money without putting this language in????
Why did Dodd SPECIFICALLY write in the allowance of the bonus money?????
Give me a break. These two scumbags are as dirty as the AIG folks.
You're mischaracterizing what's happening here.
Congress cannot void private contracts.
The language you point to acknowledges that fact.
Obama was counting on the AIG execs to give up the bonuses in light of the bail out. They didn't. Now the Congress is taxing those bonuses steeply.
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::)
Nice to see ya again by the way. :)
thanks, it's good to be back. Since I started lifting again about a month ago, I feel I can post here again.
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I think it's pretty obvious.
Alie to call it a bonus? You guys are too kind.
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The public is so retarded they probably think millions is more than billions.
Anyone with half a brain can see the Obama deception and lie going on with this. Obama/Geithner play good cop and AIG plays bad cop.
Behind the curtain both are getting what they want out of this.
Only the Obama cultists cant or refuse to see what is going on here.
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You're mischaracterizing what's happening here.
Congress cannot void private contracts.
The language you point to acknowledges that fact.
Obama was counting on the AIG execs to give up the bonuses in light of the bail out. They didn't. Now the Congress is taxing those bonuses steeply.
Does he not read WTF he signs??????
The language was in the bill specifically protecting these bonuses.
Either we are dealing with gross negligence on the part of Obama, or worse.
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Does he not read WTF he signs??????
The language was in the bill specifically protecting these bonuses.
Either we are dealing with gross negligence on the part of Obama, or worse.
Gov. has no power to void private contracts. (with some exceptions).
The bonuses are a contractual obligation btn AIG and its employees.
The government cannot void that contract.
Only the contracting parties can agree to forgo the bonus provision.
Big government cannot force them.
It's not gross negligence or criminality, it's simple contract law.
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You guys are too kind.
don't get me wrong.
I have several issues with how AIG has been handled.
Those clauses in the bill looks a bit peculiar when you have this campaign funding looming in the background.
It may not be related, and there may be a good explanation. But lots of questions are still unanswered.
My issue is that you're being factually wrong - it wasn't a bonus.
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Gov. has no power to void private contracts. (with some exceptions).
The bonuses are a contractual obligation btn AIG and its employees.
The government cannot void that contract.
Only the contracting parties can agree to forgo the bonus provision.
Big government cannot force them.
It's not gross negligence or criminality, it's simple contract law.
Im talking about Obama screaming that he did not know about this and the corrupt congress trying to tax these people any different than anyone else.
If they never gave these reckless bailouts in the first place, we would not be here. Who engineered the AIG bailout??????
Geithner!.
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Im talking about Obama screaming that he did not know about this and the corrupt congress trying to tax these people any different than anyone else.
If they never gave these reckless bailouts in the first place, we would not be here. Who engineered the AIG bailout??????
Geithner!.
Obama is chastising both AIG and the executives getting the bonus compensation. They should have given up the bonuses. Gov. can't make them give up the bonuses.
That's all he can do under the law.
Every word I've read from the man's mouth is consistent with this proper understanding of contract law.
While AIG reserved the right to pay those bonuses, they shouldn't have in light of the bail out. That's been Obama's stance from the beginning.
When Obama learned that the bonuses were indeed paid, why it was an outrage.
I see nothing improper on Obama's part.
Believe me, there are other things that deserve attention. This ain't one of them.
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Still waiting for evidence of the "bonus".
And whining and gnashing of teeth is not evidence.
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http://www.examiner.com/x-268-Right-...Bonus-from-AIG
Senator Barack Obama received a $101,332 bonus from American International Group in the form of political contributions according to Opensecrets.org. The two biggest Congressional recipients of bonuses from the A.I.G. are - Senators Chris Dodd and Senator Barack Obama.
The A.I.G. Financial Products affiliate of A.I.G. gave out $136,928, the most of any AIG affiliate, in the 2008 cycle. I would note that A.I.G.’s financial products division is the unit that wrote trillions of dollars’ worth of credit-default swaps and "misjudged" the risk.
The Washington Post reports a "mob effect" at A.I.G financial products division:
A tidal wave of public outrage over bonus payments swamped American International Group yesterday. Hired guards stood watch outside the suburban Connecticut offices of AIG Financial Products, the division whose exotic derivatives brought the insurance giant to the brink of collapse last year. Inside, death threats and angry letters flooded e-mail inboxes. Irate callers lit up the phone lines. Senior managers submitted their resignations. Some employees didn't show up at all.
With the anger and rage that is being exhibited against A.I.G., perhaps the bonuses Obama received from A.I.G. explain Obama's A.I.G crocodile tears.
Now that the Wall street Journal has revealed that A.I.G. paid bonuses of $1 million or more to 73 employees, it's time to ask if recipients of A.I.G. "bonuses," including President Obama, will give what now ought to be taxpayer money back?
Lets see if he and Dodd will give it back.
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Obama is chastising both AIG and the executives getting the bonus compensation. They should have given up the bonuses. Gov. can't make them give up the bonuses.
That's all he can do under the law.
Every word I've read from the man's mouth is consistent with this proper understanding of contract law.
While AIG reserved the right to pay those bonuses, they shouldn't have in light of the bail out. That's been Obama's stance from the beginning.
When Obama learned that the bonuses were indeed paid, why it was an outrage.
I see nothing improper on Obama's part.
Believe me, there are other things that deserve attention. This ain't one of them.
Fine, why doesnt Obama return the 100k he got from them?
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Still waiting for evidence of the "bonus".
And whining and gnashing of teeth is not evidence.
Keep defending this corrupt liar. There are fewer and fewer of you left.
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Fine, why doesnt Obama return the 100k he got from them?
Why should he?
Should we set that precedent?
Did the Bush administration return the Enron donations?
McCain got 60,000 from AIG. He hasn't returned it.
The campaign contributions weren't illegal. They were made prior to any information coming out re the collapse of AIG.
Should they return the money to AIG? No. Should they donate it to the US Treasury? I could go for that.
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Why should he?
Should we set that precedent?
Did the Bush administration return the Enron donations?
McCain got 60,000 from AIG. He hasn't returned it.
The campaign contributions weren't illegal. They were made prior to any information coming out re the collapse of AIG.
Should they return the money to AIG? No. Should they donate it to the US Treasury? I could go for that.
You guys are amazing. Obama/Geithner has morphed 100% into Bush/Paulson only after a few weeks and you still come on here acting like Obama is for change.
What a joke.
Dodd and Obama got TOP money from Fanny/Freddy and AIG as protection money.
Its working like a charm.
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I think it's pretty obvious.
Alie to call it a bonus? You guys are too kind.
Yeah B. That was some wack shit there. When you do shit like that, try and post misleading ass headlines ,it fucks with your credibility and the ability for others to take yo serious. Just say "Obama received a campaign contribution from AIG blah blah". And dude it was wrong, no need to defend shit you know was wrong. Just say "yeah my bad, he didnt get a bonus, they contributed to his campaign".
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You guys are amazing.
Thank you. Thank you very much. It's gratifying to have one's work on these boards acknowledged.
Obama/Geithner has morphed 100% into Bush/Paulson only after a few weeks and you still come on here acting like Obama is for change.
What a joke.
Dodd and Obama got TOP money from Fanny/Freddy and AIG as protection money.
Its working like a charm.
Do you call all campaign donations "protection money"?
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Thank you. Thank you very much. It's gratifying to have one's work on these boards acknowledged.
Do you call all campaign donations "protection money"?
Most of it. Why else do you think they pay up????????
To either be left alone or to get something they want.
The govt acts like the mafia in every way.
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Most of it. Why else do you think they pay up????????
To either be left alone or to get something they want.
The govt acts like the mafia in every way.
I agree with you on this part. It's not the government that is the Mafia. Gov. is a tool for the most part. It's the corrupt private entities who twist government to their ends.
So it's really the mafia acting like the mafia when it uses government for its own purposes.
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I agree with you on this part. It's not the government that is the Mafia. Gov. is a tool for the most part. It's the corrupt private entities who twist government to their ends.
So it's really the mafia acting like the mafia when it uses government for its own purposes.
Both are partners in crime.
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Still waiting for evidence it is a BONUS.
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Still waiting for evidence it is a BONUS.
Whether it be named a bonus, a bribe, a schmere, a contribution, etc, the effect is all the same, Obama continues to funnel hundreds of billions of dollars to AIG.
165 million is nothing in the scheme of all of this. The real scandal is the the fact that the govt gives this money without strict rules, oversight, and accounting as to where it is going.
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Is that a fair description, calling it a bonus? This info was out months ago. Corporations give to candidates all the time, ALL THE TIME. I'd like to see all that ended but it's not Obama's fault for playing the game as it's written. They all take contributions fully knowing they may end up making decisions where there is a conflict of interest because they took cash.
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Whether it be named a bonus, a bribe, a schmere, a contribution, etc, the effect is all the same, Obama continues to funnel hundreds of billions of dollars to AIG.
165 million is nothing in the scheme of all of this. The real scandal is the the fact that the govt gives this money without strict rules, oversight, and accounting as to where it is going.
Are you for ending all corp contributions?
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LOL wow i love how all the lefties on the board come out and cry about the title being a lie and misleading which it is and i agree, however when 240 or lurker or whoever else starts a ignorant ass thread with a bold faced lie or misleading title none of you guys are on their bitching about it, why is that?
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Are you for ending all corp contributions?
Yes. I would only let individuals give $$$ with full disclosure. Companies give money without the shareholders having the ability to vote down the money.
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LOL wow i love how all the lefties on the board come out and cry about the title being a lie and misleading which it is and i agree, however when 240 or lurker or whoever else starts a ignorant ass thread with a bold faced lie or misleading title none of you guys are on their bitching about it, why is that?
That's not true... I do also think there's a difference between posting editorial pieces and lying about post content.
That's just my opinion though.
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Still no evidence that it is a BONUS I see.
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That's not true... I do also think there's a difference between posting editorial pieces and lying about post content.
That's just my opinion though.
and you dont think 240 ever does this? dude does this multiple times a day...whos thread was it that had the title "wasilla's welfare just got 2 more"? then had an article of how palins daughter and fiance broke up? hahahahahahah pot meet kettle bro, holmes ive lost respect for you bro, defending obammers chair of economic advisors with her comment, then this shit man you used to actually think shit through instead of knee jerking...
By the way did you hear the pres this morning he said and I quote "i have all the confidence in my economic team" i guess that means that he agrees with "the fundamentals of the economy are sound" seeing as his chair of economic advisors said so...im sure youll find a way to squirm out of that though.
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Yes. I would only let individuals give $$$ with full disclosure. Companies give money without the shareholders having the ability to vote down the money.
I would back that idea, but that's not remotely close to what we have now. Therefore this should be a criticism of the system not Obama.
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I would back that idea, but that's not remotely close to what we have now. Therefore this should be a criticism of the system not Obama.
I can condemn both.
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Geitner, Bush and Obama all share blame. There never should have been a bailout. If the gov choose to give $, there should have been strick rules that the money go to lending only. The gov has the power to do this. Obama's actions in this crisis have been horrible. Despite what he says, there has been excessive spending with little focus and accountability. His presidency has been much worse, so far, than I expected.
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I can condemn both.
Of course you can. But you can't justify and explain both in this thread in regards to the BONUS claim.
Let's not get ahead of ourselves in our whining now.
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Of course you can. But you can't justify and explain both in this thread in regards to the BONUS claim.
Let's not get ahead of ourselves in our whining now.
Why not???? Obama took the most from Fanny /Freddy, 2nd most from AIG, and you think they got nothing in return????
Obama is a shill for the wall street banks no different than Bush. I condemned Bush for his actions, but you will not say a damn thing about the looting Obama/Geithner are doing wirth AIG. That is the difference between us, you are a party line liberal who will defend anything Obama does. I condemned Bush for what he did, you refuse to do the same with Obama even when the clear evidence shows he is a shill for the wall street banks and lying through his teeth about what is going on at AIG.
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I can condemn both.
You mean you can condemn all which is not remotely what this thread is doing. I'm just always looking for the truest angle and getting up in Obama's shit over what every last one of them does, just doesn't sit right.
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You mean you can condemn all which is not remotely what this thread is doing. I'm just always looking for the truest angle and getting up in Obama's shit over what every last one of them does, just doesn't sit right.
He appointed Geithner correct? He is the president correct?
The way Bush correctly got crap for his nonsense is no different than the obligation to hold Obama's feet tot he fire when he does the same thing.
Obama is simply Bush's third term when it comes to bailouts, spending, rushing through bills, scaring people, secrecy, etc..
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::) Yes, this is a total fallacy. It doesn't matter that Obama, Dodd and Frank got a shitload of money from AIG Fannie and Freddie. Its Bush's fault, anyway so who cares. Rumor has it Barney Frank had the runs this morning. GWB must have put some hyper mutated anthrax in his oatmeal. Nothing any democrat has ever done is wrong. Until you recognize that your either a racist or your "misinformed".
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I just cant believe how quick Obama morphed into GWB on the bailouts and spending. Its unreal.
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Are you calling your stimilus check a bonus?
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and you dont think 240 ever does this? dude does this multiple times a day...whos thread was it that had the title "wasilla's welfare just got 2 more"? then had an article of how palins daughter and fiance broke up? hahahahahahah pot meet kettle bro, holmes ive lost respect for you bro, defending obammers chair of economic advisors with her comment, then this shit man you used to actually think shit through instead of knee jerking...
By the way did you hear the pres this morning he said and I quote "i have all the confidence in my economic team" i guess that means that he agrees with "the fundamentals of the economy are sound" seeing as his chair of economic advisors said so...im sure youll find a way to squirm out of that though.
Nope... I still think "sound" and "strong" are different... but hey... We're not going to agree on it so that's fine.
You must think I'm some kind of Team Obama shill... trust me... I'm not. I do have to wait and see if some things improve though with his plans... I can not condemn things he didn't do (Like give that money to AIG... because that wasn't just him)
Since you don't like what he's done... What would you have done?
Why is it that the economists are saying his plan is right, but you don't believe them?
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He appointed Geithner correct? He is the president correct?
The way Bush correctly got crap for his nonsense is no different than the obligation to hold Obama's feet tot he fire when he does the same thing.
Obama is simply Bush's third term when it comes to bailouts, spending, rushing through bills, scaring people, secrecy, etc..
This economic debacle is complex in its origins and in our efforts to combat it.
Every major country in the world is engaging in gov. bailouts to right the economic ship. The US is doing the same.
Should we stop the effort?
What happens when our international competitors come out of the depression/recession much earlier than we have simply b/c they spent their way out of the problem and we did not?
Do you want to handi-cap the US's recovery? If so, why?
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He appointed Geithner correct? He is the president correct?
The way Bush correctly got crap for his nonsense is no different than the obligation to hold Obama's feet tot he fire when he does the same thing.
Obama is simply Bush's third term when it comes to bailouts, spending, rushing through bills, scaring people, secrecy, etc..
I think you're missing the point. If you dig into this you're going to find it's very widespread. Again, it's the system that should be in view. With your approach, I might as well start a thread totally appalled that I just found out Obama is a politician. We both agree it's bad. I just think it's counterproductive to lay it on Obama like he's the transgressor when they're all doing shit like this. Obama didn't invent money is access.
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Obama is becoming a white whale for some of you guys.
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I think you're missing the point. If you dig into this you're going to find it's very widespread. Again, it's the system that should be in view. With your approach, I might as well start a thread totally appalled that I just found out Obama is a politician. We both agree it's bad. I just think it's counterproductive to lay it on Obama like he's the transgressor when they're all doing shit like this. Obama didn't invent money is access.
No, BUT obama is continuing what Bush was doing, but worse. For months everyone screamed that McCain was "McBush" "McSame" ect, when in the end it was Obama, not McCain, who was carrying forward a third Bush term.
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Nope... I still think "sound" and "strong" are different... but hey... We're not going to agree on it so that's fine.
You must think I'm some kind of Team Obama shill... trust me... I'm not. I do have to wait and see if some things improve though with his plans... I can not condemn things he didn't do (Like give that money to AIG... because that wasn't just him)
Since you don't like what he's done... What would you have done?
Why is it that the economists are saying his plan is right, but you don't believe them?
you should stop watching just msnbc there are plenty of economists that are saying his plan is wrong...I personally didnt agree with the bail outs, the rushed through stimulus package that aot of which wont be felt for 2 or 3 yrs at the earliest. I never really pegged you for a team obama shill but like i said your actions of late speak differently i agree certain things need to be given time to see if they work that isnt to say they shouldnt be criticized for things that were not handeled well, he should NOT be given a pass simply b/c he is new which he isnt any longer.
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No, BUT obama is continuing what Bush was doing, but worse. For months everyone screamed that McCain was "McBush" "McSame" ect, when in the end it was Obama, not McCain, who was carrying forward a third Bush term.
everyone knew of Obama's political contributions when he was running for office. It was even posted here.
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everyone knew of Obama's political contributions when he was running for office. It was even posted here.
Did he campaign on being GWB the 3rd?
Did he campaign on a fraction of what he is doing now with the endless bailouts, massive deficits, card check, amnesty, charging Vets for insurance etc?
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Did he campaign on being GWB the 3rd?
Did he campaign on a fraction of what he is doing now with the endless bailouts, massive deficits, card check, amnesty, charging Vets for insurance etc?
why are you changing the topic? I thought we were just talking about this contribution? Yes, we were... A red herring usually occurs when you hit a wall and need to change to subject. We can talk about those things, but that's not what we were talking about was it?
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why are you changing the topic? I thought we were just talking about this contribution? Yes, we were... A red herring usually occurs when you hit a wall and need to change to subject. We can talk about those things, but that's not what we were talking about was it?
We discussed the AIG donation and he should return it.
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We discussed the AIG donation and he should return it.
really, that's where we ended up in our discussion? lol...
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Why post this?
If you don't like the effect of legal campaign financing laws in this country, state why?
To call a campaign contribution a bonus is misleading and incorrect.
Welcome back Decker. :)
Sure calling it a "bonus" is sort of a play on words, but it's fair. This shows that Obama brought the same old business as usual approach to D.C. Does not pass the smell test.
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With the kind of money Obama raised, do you guys really think 100,000 bought his loyalty to AIG? I mean that would be like somebody buying me for 10 bucks ::)
No, but I'm talking about the appearance of impropriety, which is just as serious as actual misconduct, especially for someone who ran on a "change" platform.
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No, but I'm talking about the appearance of impropriety, which is just as serious as actual misconduct, especially for someone who ran on a "change" platform.
Holy Shit, the world will end tomarrow because I actually agree with you. :)
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Holy Shit, the world will end tomarrow because I actually agree with you. :)
I'm sure that will change tomorrow. :D
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McCain ran on the Change message too and I guarantee it would have been the same ol with him too. The only guy who would have brought real change on day 1 is Ron Paul. Now the question is, will Obama end up bringing more change than McCain would have. That's possible. No I'm not real happy with some things Obama has done, like the way the stimulus was done but I'm 100 percent sure the same thing if not worse stimulus wise would have happened under McCain. I bet big business would have gotten an even bigger chunk under McCain and republicans would just be arguing that a ceo's bailout bonus is taxpayer money well spent. Maybe not that extreme but along those lines for sure.
I agree in part. I do think Ron Paul would have done things differently, but he was never a serious candidate and will never be president.
I don't agree about McCain. He actually talked about a freeze on government spending. That's a polar opposite approach from Obama's reckless spending. McCain didn't have the grapes to oppose Dubya's irresponsible bailout, but I doubt he would have come into office and just started printing money.
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Why post this?
If you don't like the effect of legal campaign financing laws in this country, state why?
To call a campaign contribution a bonus is misleading and incorrect.
i agee my fiend,,,,,nothing is wrong with giving moneies to campains at all its perfectly legal to dthis,,,obam is doin best he can and do good job as bush imstaks.
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Many economists disagree with the administration's approach, there are people on both sides. Over 60% in the largest survey of economists disagreed with the administration's responce to the stimulus/bailout situation. This got some press for about 2 days and was dropped.
Way too much spending without specific focus and accountability.
AIG should have never been given the $ or provisions should have been written to specifically direct the taxpayor bailout money. If we are giving handouts, we need to have control of how its spent. These are the same greedy people who ran their bank into the ground.
This administration is spending way too much and it will have consequences down the road.
Welcome back Decker!
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The economists are all over the board, your right. Makes you wonder what the 'expert' title really means.
But for anyone that favors the massive stimulus, or a second stimulus needs to also be prepared for the future reprocussions (inflation, higher taxes, the question of how much the stimulus actually worked).
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The economists are all over the board, your right. Makes you wonder what the 'expert' title really means.
But for anyone that favors the massive stimulus, or a second stimulus needs to also be prepared for the future reprocussions (inflation, higher taxes, the question of how much the stimulus actually worked).
I'm definitely in favor of stimulus right now, to run a budget deficit while there is a recession.
The damage was done in the previous years, the years of economic boom. Those presidents didn't have the fiscal balls to run budget surpluses - other than Clinton for one or two years.
But Reagan all through Bush jr have been utterly incompetent. Systematically building up the national debt.
Which puts USA in a tight spot when it has to stimulate the economy - there are no reserves to use.
But I'm a Keynesian.
I still believe you got to stimulate during the recession.
But how to do it most effectively is another question - I believe a lot in doing infrastructure improvements.
That will create job while also improving the foundation for good business venturing.
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I'm definitely in favor of stimulus right now, to run a budget deficit while there is a recession.
The damage was done in the previous years, the years of economic boom. Those presidents didn't have the fiscal balls to run budget surpluses - other than Clinton for one or two years.
But Reagan all through Bush jr have been utterly incompetent. Systematically building up the national debt.
Which puts USA in a tight spot when it has to stimulate the economy - there are no reserves to use.
But I'm a Keynesian.
I still believe you got to stimulate during the recession.
But how to do it most effectively is another question - I believe a lot in doing infrastructure improvements.
That will create job while also improving the foundation for good business venturing.
What do you think of the Fed's move yesterday?
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What do you think of the Fed's move yesterday?
I will admit that I don't really feel qualified to have an opinion.
The big issue IMO though with the fed is that there were not enough raises of the rate back when that could've mattered.
Loans and shares, not bonds and saving accounts, were still more attractive 3-4 years ago.
Lets face it.
The Fed was a major player in getting the whole world into this shit with their constant low rates.
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I am not surprised at all to hear this......nobama is a walking contridiction.
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Fine, why doesnt Obama return the 100k he got from them?
exactly!
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Welcome back Decker. :)
Sure calling it a "bonus" is sort of a play on words, but it's fair. This shows that Obama brought the same old business as usual approach to D.C. Does not pass the smell test.
Hey BeachBum thanks for noticing. Obama can't change the fact that the Sup. Court has equated freedom of speech with money where elections are concerned.
IF I could, I would federalize elections, limit the exposure of the candidates to a limited number of policy addresses and debates and have the entire election cycle span 2 months.
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Many economists disagree with the administration's approach, there are people on both sides. Over 60% in the largest survey of economists disagreed with the administration's responce to the stimulus/bailout situation. This got some press for about 2 days and was dropped.
Way too much spending without specific focus and accountability.
AIG should have never been given the $ or provisions should have been written to specifically direct the taxpayor bailout money. If we are giving handouts, we need to have control of how its spent. These are the same greedy people who ran their bank into the ground.
This administration is spending way too much and it will have consequences down the road.
Welcome back Decker!
Thanks man, it's good to be back. Did you have a look at this article? http://www.rollingstone.com/politics/story/26793903/the_big_takeover/
I've seen Taibbi speak before and he's a pretty smart guy. He really breaks down how and why this happened.
This meltdown was no accident. The SEC and INsurance regulators should drop down on every Wall Street entity like a ton of bricks. I don't care if it takes years.