By Hale Adams - 03/16/09 07:09 PM EDT
Alexander Bolton in his article “Obama’s honeymoon bliss fading” (March 12) writes the following:
“Some Democrats have started to worry that voters don’t and won’t understand the link between economic revival and Obama’s huge agenda, which includes saving the banking industry, ending home foreclosures, reforming healthcare and developing a national energy policy, among much else.”
Oh, I think we voters understand very well the link between economic revival and Obama’s huge agenda, and it’s not a happy one: Running up huge debts that our children will be stuck paying; sticking prudent homeowners with the bill for mortgages taken out by the imprudent or incompetent; increasing government involvement in healthcare, an area already screwed up by too much government market-rigging; and pursuing energy policies guaranteed to keep us at the mercy of foreign cartels and the tyrants who control them.
Oh yes, we do understand the link quite well indeed. Can President Obama say “Jimmy Carter”? Yes he can! I knew he could.
Palin 2012 — Change you’ll be begging for.
It’s real simple
From Jim Nagel
(Regarding article “AIG bonuses prompt outrage from all sides,” March 15, and related coverage.) Once again I am reminded that government policy and taxpayer dollars are always available for use by business friends.
I have worked at a number of companies, usually in Silicon Valley. My experience is that a company that did not make a profit did not pay a bonus — to anyone. It’s that simple. Employees who were responsible for the failures were fired and the rest of the employees got to keep their jobs and work toward making the company profitable. It’s that simple.
This is the worst business downturn of my experience and I sympathize with those who have been hurt by it.
I have had a job of one sort or another since I was 13 years old, and over my 49 working years, I have observed the actions and activities of boards of directors, executive managers and their friends in Washington.
I know that President Obama; Treasury Secretary Timothy Geithner; my senators from California, Dianne FeinsteinDianne FeinsteinElection-year politics: Senate Dems shun GOP vulnerables Senators already eyeing changes to 9/11 bill after veto override WH tried to stop Intel Dems' statement on Russian hacking: report MORE (D) and Barbara BoxerBarbara BoxerDems gain upper hand on budget Overnight Finance: Senate rejects funding bill as shutdown looms | Labor Dept. to probe Wells Fargo | Fed to ease stress test rules for small banks Funding bill rejected as shutdown nears MORE (D); my representative in the House, Jackie Speier (D); and the board of directors of AIG do not understand what most working Americans experience. They are insulated by their personal assistants, contractual employment and guaranteed benefits and pensions.
Many years ago I served my country in the Army. At that time, I saw rich kids going into the National Guard and poor kids going to Vietnam. It was a life lesson about the unfairness of government policy. Perhaps I should know better than to be upset about the debt we are taking on and what it will do to my children and their children. But I have to at least speak out.
This is not right. I do not care if AIG and the other companies who are receivers of government welfare are “contractually obligated” to pay bonuses. If they had not been given the bailout money — our tax dollars — there would be no AIG to pay bonuses. It’s that simple.
‘Best and brightest’
From Louis Candell
When are you, Larry Summers, chairman of the National Economic Council; Treasury Secretary Timothy Geithner; and President Obama, going to get serious about getting a grip on the financial crisis? It’s outrageous that you can only express your disappointment at the most recent scandalous behavior of AIG management and the ridiculous comment by AIG Chief Executive Edward Liddy that AIG is contractually bound to pay exorbitant bonuses to employees responsible for the smoke-and-mirrors investment vehicles that placed AIG on the brink of collapse last year. If these people are what Liddy referred to as the “best and the brightest” AIG can employ, then God help us.
I understand that the average salary of employees at this particular AIG unit has been about $1 million. I could have helped to screw up our finanacial system for half that amount. It is ludicrous that Liddy claim that he has no choice but to pay these bonuses. Given the state of our nation’s financial infrastructure, the overall economy and tremendous amount of money the U.S. taxpayer is forking over to AIG, any preexisting contractual agreements should be declared null and void on the basis of national security.
Please, for pity’s sake, stop pussyfooting around with these people. Tell these clowns what needs to be done and emphasize that if your instructions are not followed to the letter, they will join Bernie Madoff in the can!