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Old 03-24-2009, 02:43 PM   #21
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I just watched Face the Nation today, and that was a direct quote from Barney Frank. That if the execs decide to quit over the bonus deal, it is an act of extortion against the american people.

Interesting... I always thought an act of extortion was when someone threatens you harm or damage in one way or another (like a 90% tax). In this case it would just be the execs withdrawing their help. Where is the ACLU on this one? Do they not have the right to quit if they feel like it? Who is really working for whom in this situation? Where is their liberty, their freedom to choose? This one just sent me through the roof. If the govt truly believes it can run AIG better than they can... I say let them have at it. Show the American people how efficient the govt can really be at running a private business.

Once again, the idea of right or wrong is being seen here, through the prism of how much money you have. The execs of all of these companies helped to de-stabilize the economy because of risky busines practices. No argument there. Extended way too many risky loans around, that now have all defaulted.

But where is the govt or citizen outrage at all of those people that took out the loans they could never pay back in the first place? Why does the govt not place a tax on them to help fix the problem that they certainly had a hand in causing? Why not enact a law stating that those people that were irresponsible, or unfit for one reason or another to pay their loan back, cannot own property for 7 years? I know with absolute certainty that I had no hand in causing this financial mess at all, yet more and more of my tax dollars are being spent to fix it. Shouldn't the people who defauted on their loans have to pay more of the burden to fix what they broke? Even if they had to pay it back slowly over 30yrs or so? They ARE getting my money aren't they? Do I get to have a say on how they are going to spend it?

Why is it this way? It is because of the victim mentality that is currently crippling the US. And the way the current tune goes... is that the one with the least money is always the victim, reguardless of whatever it is that they do, and the one with the most money is always the oppressor reguardless of what they did. This is making me ill....
Based on Mr. Frank's past, he should NOT be too preachy on morality for others......
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Old 03-24-2009, 03:52 PM   #22
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Well, it seems that there was a little extortion exercised by the NY AG to reslove the bonus issue.

Hard ball anyone?
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Old 03-24-2009, 06:10 PM   #23
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Old 03-24-2009, 06:49 PM   #24
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Ya know - when ya stomp a bar of soap - it often squishes sideways.

Being the last Dem in the family, I can hardly wait for the family reunion this summer.

By then there ought be a lot of stuff to pull my Sister's chain and watch her get red faced and sputter. Like the last reunion when her oldest Son said he was crossing party lines to vote Obama.

Adding the best ideas of both sides together - I'll bet it's gonna take a lot longer than most think to untangle this one - with a fair amount of blind alleys, boo's boo's, and just plain screw ups.

But now that Brett is retired for sure(maybe) - perhaps the Pat's will make the playoffs and the economy will recover.

None of which are linked in any visible way.



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Old 03-24-2009, 08:31 PM   #25
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Well, it seems that there was a little extortion exercised by the NY AG to reslove the bonus issue.

Hard ball anyone?
That's my man...
I was wondering when our esteemed AG was going to get on board.
Why him? Most of these companies are HQd in NYC, and therefore have to deal with the NY AG.
In other words, the AG can literally pick up the phone and say "How do you like me now?"
Cuomo's predecessor was...before he screwed up with the bimbo...none other than Eliot Spitzer. Cuomo was picked by Spitzer when he was elected NY Guv.
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Old 03-24-2009, 08:47 PM   #26
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and Cuomo's next door neighbor AG in Connecticut is on the ball too.
Conn. Subpoenas AIG Bonus Recipients | - CBS News

I love watching stuff like this happen. You can run but you cannot hide from 2 State Attorney Generals who can do nothing but come out smelling like a rose when they chase down the bad guys.
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Old 03-24-2009, 08:47 PM   #27
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Another way of viewing it: It will chain them to their homes no matter what. They won't be able to take a better job in another town, etc because they are underwater in their homes and can't pony up the money to pay off Uncle Sam if they have to sell. This is, ultimately, no different from the present situation, so it doesn't make things worse, but it does insert the US Government into the equation. There would be subsequent legislation to address the "unfairness" of it, and there would be more tax money spent to let the "homeowners" off the hook.
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Old 03-24-2009, 08:55 PM   #28
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Old 03-24-2009, 11:03 PM   #29
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Hi all

We are closing this thread and deleting a few posts since it has appeared to run its course.
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