Outraged At The Outrage

March 18, 2009

Like most Americans, I’m outraged at the retention bonuses that AIG is planning to pay some of it’s top executives using our taxpayer/bailout dollars. But what I’m more outraged at is the feigned outrage coming from the President, the Treasury Secretary and the architects of this crisis; Rep. Barney Frank and Senator Chris Dodd. Do you mean to tell me that these four men, who were the framers of these bailouts, didn’t know that these contracts existed before they gave AIG the money? If that’s true, they should all resign immediately. If they’re that incompetent they shouldn’t be in positions of leadership.

The sad truth is that they probably knew all about it, but hoped that the public wouldn’t notice. Now they’re doing damage control. Barack Obama, Chris Dodd and Barney Frank were top recipients of lobbyist money from companies like Fannie Mae, Freddie Mac and AIG over the past 10 years, could there be some correlation? There is plenty of blame to go around for this crisis, on both sides of the aisle, but the Democrats have control of both houses of Congress and the White House.

What happens now and for at least the next two years, is in their hands. They’ve passed up chances to really change the way things are done on earmarks, the budget and bipartisanship. They have another opportunity here. Stop pretending to be outraged and just fix the problem. Admit your mistakes, learn from them and move forward. That would be change we can believe in.

Steven Rosenblum

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3 Responses to “Outraged At The Outrage”

  1. Add that to the fact that guys like Franklin Raines, who ran Fanny (Freddie?) and got fired still got to keep his $90 million in bonus money.

    Where is the outrage there?

  2. American Confucius said

    Moreover, it was Dodd’s bill that permitted the retention bonuses. Dodd continues to insist that he did not know about it. So now we’re left with our Congressmen not even knowing what’s in their bill. No accountability.

    Let’s not forget that Dodd’s father, Tom Dodd, also a US Senator, was nearly impeached by the Senate for diverting over 100 grand (1960s dollars) in campaign money for his own use. Apparently the apple really does not fall far from the tree.

  3. Steven Rosenblum said

    You’re quite right about Dodd. He’s also the one that got the sweetheart mortgage from Country Wide. He knew about the bonuses. He and Frank were probably one of just a handful of congressman and senators that actually read the bill before it was voted on, since they essentially wrote the law.

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