Tuesday, March 17, 2009

I Support Bonuses to CEO of AIG

Liberal Democrats love to pander, blame, and stir up raw emotions to the American public. Yet, these same Liberal Democrats tend to forget it is usually their fault. In the case for AIG, I support letting these CEO get their bonuses. There are many reasons of my support. As for starters, I base my support on a contractual agreement between the CEO and the share holders. The other is an executive amendment in the $787 billion stimulus package written by Senator Chris Dodd giving protection to CEO bonuses.

Today, I heard Obama wanting to go after these greedy CEO. Senator Chucky Schumer wants to tax 100% of their bonuses. I read Nancy Pelosi threatening to take away their bonuses. Also, I saw on TV a Republican Senator telling the CEO to kill themselves. What irritates me is that no one read the stimulus bill to its entirety. Chris Dodd inserts a clause giving CEO protection for their bonuses. I will not jump on the bandwagon and throw a tantrum for $165 million. This is nothing compared to the huge tax increase and the $1 trillion debt we will accrue. This is just a smoke screen to hide the stupidity the Democrats got themselves into. Obama rushed to sign the bailout package without anybody understanding what it contains. There were no transparencies. Even Chris Dodd wanted the CEO to give up their bonuses for the sake of the American people and he was the one who put the protection clause on their behalf. I am assuming Chris Dodd is an idiot thinking we may overlook his past actions. Remember that Chris Dodd got the most in contributions to his campaign from AIG. Obama came in second. Can you smell a rat?

This fiasco is a total joke and should be dismissed. What we need to get out of this is that there was a contract between the CEO of AIG and the Board of Director/the stockholder. It was agreed whatever revenue they bring into the company, compensation or bonuses will be justly allocated. With the derivatives the company packaged and sold into the open market, it brought in a billion of the dollars in revenue before the scam hit the fan. It is unconstitutional for Congress to breach any contract between two parties in agreement. It would have been much easier if our Senators and Congressmen read what the bill contains before acting like idiots to the American people.