“You Never Want a Serious Crisis to go to Waste” Update

Today’s ‘crisis’ and pandering comes to you as courtesy of the insurance giant AIG and the Obamanation. Apparently the folks over at AIG recently used some $165 million of the $170 billion they have received in taxpayer funds to pay out bonuses to employees. The Obamanation Monday proclaimed in typical Messianic tone that “insurance giant American International Group is in financial straits because of “recklessness and greed.” Am I the only one that sees through this? The Feds tinkered with and manipulated the housing market for decades leading up to the recent collapse. In 1977 the Carter Administration instituted the “Community Reinvestment Act.” This law encouraged banks to make unsafe loans. The Feds are never taken to task for this. Fannie and Freddie are also huge suspects in the demise of housing and the economy, controlled by the Feds and taxpayer-funded for the most part. On the other hand don’t get me wrong, I have no sympathy for AIG or anyone that works there, I think that they were incompetent and do not deserve taxpayer funds. I think that companies that take taxpayer funds due to negligence get what they deserve, the ire of the Obamantion is expected. It’s ironic as well the Obamanation and the administration didn’t become outraged until the populist bomb throwers started creating noise. These bonuses were a known fact months ago and when the Obamanation took office. What a mess we are in, our benevolent Federal government is spending my children’s money and making it progressively worse. Logging out for now.


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