Congress is angry!!?!
Really truly incensed.!!!!?
Incredibly angry & there's irrational motive for their wrath.
Every ones angry toward American International Group, which paid bonuses that are seen as unacceptable. But it appears no ones angry at Congress, which merrily rejected a prohibition of these bonuses earlier this year, but is now appalled to see AIG doing just that. The Democrats who control Congress want retaliation, along with some Republicans. So the House voted 328-93 to levy a 90% tax on these payments.
Also of note, the pending bonuses in question, were not hidden information, in fact they were public knowledge. AIG's plan to pay 167 million dollars in bonuses, was advertised last fall, when Congress asked about expensive junkets the company had supported, so reports The Associated Press. Further the AP reports, "A November SEC {Securities & Exchange Commission} filing by the company elaborated about an estimated "$469 million in 'retention payments' to keep prized employees."
The White House was also in the loop. Sen. Chris Dodd (D-Conn.) claims the administration asked him to attach a provision to the stimulus bill that authorized such bonuses. Sen. Dodd claims that he only agreed because he didn't understand what the measure would do. Maybe others who voted for it in the Senate & House didn't either. Maybe Sen. Dodd & Congress should stop & read statutes before approving them.
But then again is it possible to pander to your constituencies unless you have really excellent outrage to show them you care after all? Lets put this story into perspective.
1.Everybody knew of these payments as far back as September.
You might be thinking; If they knew, then why are the acting so shocked?
2.Anger, even faked, can be used to curry favor.
Think about the scenario, a major corporation comes hat in hand asking for a bridge loan from the Govt. You don't think the government didn't sic the auditors on them, especially with the amount AIG was asking for ????
The fact is, everybody knew the real deal months ago;
This is just a rare case of an over sized, blatantly timed & executed photo op for Congress. To show us, their constituents, how hard they are working for us.
My only hope is this boomerangs & the glory they seek is remembered for what it is,
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