Obama the Outraged

This AIG stuff just makes me mad. All of a sudden Obama has knickers in a bunch about AIG getting taxpayer dollars and using that to give bonuses. He said the bonus payments are an “outrage” and said he wants Geithner to “pursue every single legal avenue” to block the payments. “This is a corporation that finds itself in financial distress due to recklessness and greed,” Obama said. “This isn’t just a matter of dollars and cents. It’s about our fundamental values.”

First of all, the bonuses are less than 1/10 of 1% of the bailout money AIG received. The bonuses are $165 million. Second of all, the company is contractually obligated to pay these bonuses. Obama can't come in and rewrite contract law. Third, I am guessing that many of these executives earned their bonuses b/c their particular divisions did well, even if the company did terrible overall.

But the thing that makes me the MADDEST is all of a sudden Obama is so concerned about $165 million dollars of taxpayer funds? This is the man who has spent $1 BILLION EVERY HOUR of the first 50 days of his administration! I think he wants to direct the focus away from his reckless spending and direct the anger towards some greedy executives. This is just disgusting.

Also, if we are so concerned about accountability of taxpayer funds all of a sudden, what about the billions of taxpayer dollars that go to welfare recipients every month? Aren't they allowed to go out and blow that on whatever they want? Are they held accountable?

(I'm not saying that people who ran a company into the ground should be rewarded with my money. But that's not what this hullabaloo is all about).