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I'll Say It Outloud: This Whole AIG Mess Cracks Me Up

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March 17, 2009 – Comments (22)

I suppose it's not polite to laugh in sensitive company. Well I can't help myself. This whole AIG mess cracks me up.

I have opposed every bailout on principle. I called my Congressman. I wrote him emails. I called my Senator (ummm, Barack Obama at the time). I tried all I could, but in the end they didn't listen.

I told them it wouldn't work. In the specific case of AIG, I implored the government to let them go bankrupt. I begged them to allow resourceful people to pick up the pieces and move on.

They didn't listen. Many Americans didn't want to listen. I was criticized and lampooned. I was warned in the most dire predictions of the imminent doom that the collapse of AIG would bring... a systemic destruction of our entire society..... a dawn of savagery and a return to the pre-historic horrors of a world without a bloated insurance giant..... six years of darkness... locusts... plagues..... dogs and cats living together! Madness!

And now I can't help myself. It's funny. It really is. They can't understand it. They don't know how this could have happened. ROFL LMFAO!!!!

No matter what action the government takes, it will ensure that AIG will slowly flounder into total destruction. It's unavoidable. Demand the bonuses back? They remaining employees will sabotage the already vulnerable company out of existence. Tax the bonuses? That will just discourage the influx of talent that is AIG's only hope of recovery. Nationalize it? That would only end its private operations and turn it into a walking zombie, like the Post Office, without the legalized monopoly priviledge that keeps USPS alive. Of course, they could have just listened to us and let AIG die in the first place. But hey, what do we know.

And to further the comedy, the latest government solution is to create a new bureaucracy dedicated to handling these situations in the future. More comedy! Our current bureaucrats just gave AIG billions without even asking such basic questions as, "What bonuses are you currently contractually obligated to fulfill?" Don't worry, they tell us, we'll get it right the next time. Just give us more money.  Now if that ain't the height of hypocrisy I don't know what is! How can you not find this amusing?

So sit back and enjoy the show people because the comedy circus is just beginning. I am told that Russians living under the Kremlin's rule developed a wicked sense of humor as a coping method. Well, like Newsweek triumphantly declared, "We're All Socialists Now." =D

David in Qatar

 

22 Comments – Post Your Own

#1) On March 17, 2009 at 8:02 PM, vriguy (80.91) wrote:

You said it! 

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#2) On March 17, 2009 at 8:04 PM, nuf2bdangrus (< 20) wrote:

The AIG bonus is  a straw man for the politicians to use to acheive their other agendas.  The media is the willing colluder.

 

They knew ahead of time bonsues are in the incentive plan.  They allowed it to set up this very situation.  If not, then the government is incredibly ignorant, and that frightens me.

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#3) On March 17, 2009 at 8:17 PM, kdakota630 (29.86) wrote:

Well said.

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#4) On March 17, 2009 at 8:31 PM, JibJabs (94.71) wrote:

This AIG mess is damn useful. The politicians have a target to hit in the chin while they can go about the business of resurrecting the economy. It's simply a cathartic exercise (because, surely we can all agree, the buffoons at AIG are getting disproportionate blame).

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#5) On March 17, 2009 at 8:50 PM, coozbee45 (< 20) wrote:

My question is WHY is the SEC doing something about this, or Congress and the other Federal agencies going after these guys and their RACKETEERING. What GIVE'S with all this pointing the finger. Where the HELL is the SEC? TALK is cheap hang these guys by their GONADS, this is BullSh*T. Jon Stewart was RIGHT, and that JIM CRAMER PIECE of SH*T, he's no better than the rest of those FRICKIN BASTARDS. It's time to throw out the TRASH. COME ON SEC, DO YOUR JOB! I am so sick of ALL these FRICKIN LIARS, YOU GUYS ARE WORSE THAN ATTORNEY's. AT least they give you a itemized bill of how much their stealing from you. You ASSH*LES on these CO. boards are just flat out STEALING! Do YOU ALL BELONG TO THE SAME RIP OFF CLUB? What an effing disaster this country is headed for.

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#6) On March 17, 2009 at 8:50 PM, coozbee45 (< 20) wrote:

My question is WHY is the SEC doing something about this, or Congress and the other Federal agencies going after these guys and their RACKETEERING. What GIVE'S with all this pointing the finger. Where the HELL is the SEC? TALK is cheap hang these guys by their GONADS, this is BullSh*T. Jon Stewart was RIGHT, and that JIM CRAMER PIECE of SH*T, he's no better than the rest of those FRICKIN BASTARDS. It's time to throw out the TRASH. COME ON SEC, DO YOUR JOB! I am so sick of ALL these FRICKIN LIARS, YOU GUYS ARE WORSE THAN ATTORNEY's. AT least they give you a itemized bill of how much their stealing from you. You ASSH*LES on these CO. boards are just flat out STEALING! Do YOU ALL BELONG TO THE SAME RIP OFF CLUB? What an effing disaster this country is headed for.

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#7) On March 17, 2009 at 8:56 PM, iamnik77 (96.28) wrote:

No point complaining about something that noone can stop from happening. Might as well get a laugh out of it. Laughter is good medicine.

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#8) On March 17, 2009 at 8:58 PM, DaretothREdux (47.96) wrote:

I am told that Russians living under the Kremlin's rule developed a wicked sense of humor as a coping method.

My Russian friend is one of the most wickedly sarcastic people I know. I love it, but most ppl don't get her humor.

I honestly thought about writing a similar post about the hypocrisy of Prez O and the rest of congress...

HELLO! You all gave them billions of dollars and now you are going to cry over a few hundred million in bonuses?

How would they have given bonuses if you had let them fail?

Gov't is the problem not the solution.

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#9) On March 17, 2009 at 9:04 PM, coozbee45 (< 20) wrote:

WHY AREN'T PEOPLE OUTRAGED AT THIS?  I remember when they sent those other bastards to jail, for scamming people out of their retirements and the FRAUD that they portrayed. THe word FRAUD covers a big area, and so far these guys are FRAUD professionals, so send them packing to the slammer! And the CEO for AIG wants to give these deuchebags a frickin bonus to retain them? PLEASE give me a BREAK, the only place these guys need to be retained at it the big house with pound you in the ASS BUBBA! A few rounds with the gang who are there forever, and they might spread the word about how and what not to do, when it comes to doing the right thing with people's hard earned money and retirements. That SOB, CEO should be the first one in LINE, with BUBBA the FREIGHT TRAIN, he won't be able to sit down for a month!

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#10) On March 17, 2009 at 9:04 PM, Seano67 (37.69) wrote:

Great post. I agree, this situation is very darkly comedic, almost Strangelovian. But then you think about what this comedy of errors is actually doing to this country now and even worse what it will do in the future, and it doesn't seem so funny anymore.

I look at my sons, and wonder what kind of world and what kind of America they'll see by the time they get to my age, and I can't help but worry. We are making things impossible for them, saddling them with our excesses like this.

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#11) On March 17, 2009 at 9:11 PM, coozbee45 (< 20) wrote:

What do you mean, "CAN"T DO ANYTHING ABOUT IT"? It's laid back, lackadaisical people like you that this country is going to HELL on a first class ride. BULLSH*T can't do anything about it. You can file complaints with the SEC, online and on paper. This complaing is a waste of time statement, is WHY these BASTARDS are getting away with it. CAUSE YOU won't do anything about it! When they start coming into your yard or your house, you still going to say the same thing? What are you a WIMP?  PEOPLE need to SPEAK UP! And NOW!

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#12) On March 17, 2009 at 9:19 PM, Varchild2008 (84.67) wrote:

Complaining about it is helping.  Have you seen the polling numbers regarding the shift from DEM to GOP?

People want conservatism back.  Complaining brings to light the dangers and wrong-ness of Liberalism.

Of course.. GOP is just as guilty lately of acting like a bunch of LIBERALS when they are in control of power.

But... American People are simply uniformally Ronald Reagon esque people and as they complain, and cry foul against the abuses of a Federal Government that has grown far too big and has influenced far too many people's lives for the worse....

One would thing that eventually....eventually...a qualified, true Ronald Reagon, will one day rise up and right-size this mess.

This has always been about people wanting Conservatism when it comes to issues of fiscal responsibility.

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#13) On March 17, 2009 at 9:46 PM, thomgonz (< 20) wrote:

Varchild, 

Does this really have to veer to "BURN ALL LIBERALS" I'm not one to support bigger government at all. But to say liberalism (new age definition) is filled with wrong-ness is absurd. It's basis is alturism which has been ordained a virutue for ages, some objectivists would argue this is wrong. It's one of the few things that seperates from the majority of the animal kingdom (looking at you Bonobos, you emotion stealing primates).

 Ronald Reagon was a crook, a cheat and an idiot plain and simple. Somehow a cult of neo-cons has grown around him. Name one thing he did that we aren't feeling the repurcusions of now. Economy, yea trickle down worked great, I think David's inflation post sums up the stupidity of it. Ending the cold war? Yea, looks real peaceful with Russia. Iran-Contra,  Libya, Lebanon, Grenada. He sounds like a regular buddy of the military industry, broken glass theory 101.

 Instead of liberals, I personally like to place the blame on Baby-boomers, Neo-cons, the uneducated masses, and the religious with their god will take care of it theory, why do we need to worry about it when he will fix it?

 Gonzo

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#14) On March 17, 2009 at 10:03 PM, usmilitiadude (30.67) wrote:

I would take the politicians more seriously if they could ever have a balanced a budget. They are like a magician diverting attention away from what they don't want us to see.

 

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#15) On March 17, 2009 at 10:15 PM, Harold71 (22.81) wrote:

Love your posts, whereaminow.  We have similar thoughts.  I'll say what I said in another blog...Watching these politicians try to cure a disease that they don't understand would be hilarious, if it wasn't so damn sad.

Varchild2008,

"qualified, true Ronald Reagon, will one day rise up and right-size this mess."

I don't know that Reagan deserves that much praise.  He certainly allowed abuses of the system, especially deficit spending.  Debt exploded from 900 billion dollars before Reagan's tenure to 2.8 trillion dollars after his tenure.  It is extremely difficult to be proud of that accomplishment -- I see it as Reagan's biggest failure.

 

thomgonz,

"But to say liberalism (new age definition) is filled with wrong-ness is absurd. It's basis is alturism..."

I wouldn't say the basis of liberalism is true altruism.  Liberalism is altruism by force, backed by the point of a gun.

 

Did a quick google search, apparently this person agrees...:).

LIBERAL: These are good people who have been conned into believing in the unworkable premise of forced altruism. (See Altruist, Liberal Elite, Looter, moocher.)

ALTRUIST (FORCED): The forced altruist can best be defined by their slogan: "FROM each according to his ABILITY, and TO each according to his NEED." What this means, in plain terms is: Take the fruits of creativity and productivity from those capable and willing to produce new wealth (profit) and give them to those who have not earned them. See: collectivist, elite liberal, the anointed, looter.

http://www.angelfire.com/co2/beyondcommonsense/definitions.html

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#16) On March 17, 2009 at 10:55 PM, lquadland10 (< 20) wrote:

Congress let them and sliped in the bill in the first bail out for the banks. The wink and nod. Now congress got caught and they are outraged. What else is new. Barbny Frank is the bigest crook on the banking comity.

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#17) On March 17, 2009 at 11:02 PM, 119862913 wrote:

http://www.youtube.com/watch?v=L6QyvDnLzJs

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#18) On March 17, 2009 at 11:11 PM, 119862913 wrote:

http://www.youtube.com/watch?v=3QCZ_bv9aLc

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#19) On March 17, 2009 at 11:15 PM, whereaminow (46.24) wrote:

Interesting comments all. Thanks for a great discussion.

Unfortunately, it does seem that I'm one of the few who finds this funny. Most are still very angry. Some are still in disbelief. Others are holding out hope that the righteous ruling class (their own party, only, of course) will find a way to make this work.

I, on the other hand, will look to this guy for guidance:

David in Qatar

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#20) On March 18, 2009 at 4:49 PM, russiangambit (29.45) wrote:

As long as there is non-ending bickering between dems and reps nothing is going to be solved. Which is quite evident from this very post. Too many people are not intrested in getting to the core of the problem, it is much easier to blame the other side for evrything that has gone wrong, no thinking required.

As an outsider, I find all the political infighting absurd. It reminds me medieval Germany, it was languishing for centuries and couldn't get anything done because of it. First couple of years in the US my reaction was of disbelief , then it was anger, (culminating with Iraq war) now it is just apathy. I don't find the american politics funny, but I don't get worked up about it either. I just take care of my family, the rest of it is none of my business.

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#21) On March 24, 2009 at 12:36 PM, nzsvz9 (< 20) wrote:

All,

I laugh to cope with the absurdity of it all, despite the truly freedom-strangling nature of these actions. 

The American Founding Fathers pledged their lives, liberty, wealth and sacred honor toward the goal of a free nation. They were courageous, in the face of certain persecution. They debated furiously with each other over the nature and form of government they swore to bring about. (Where are these Patriots now?)

russiangambit, debate is good. The absence of debate, intimidation or outright suppression of it is not.

And as for AIG ... it's political theatre. Geitner put the AIG package together when at the NY Fed. He knew about the bonuses then. The bonuses were in the SEC filings that AIG submitted. A Republican Congressman (forget who at the moment) brought up the bonuses during a hearing on TARP. Geitner lied when he said he only heard about it a week ago. Dodd lied when he said he knew nothing of the bonuses and had nothing to do with them. Then he backtracked because it was the "Dodd amendment" in the TARP bill that specifically protected these bonuses brought on by pressure from Geitner.

The outrage is misplaced ... and political. Outrage at millions in bonuses is a distraction from the billions flowing out of the treasury to feed this monster.

Pay no attention to the man behind the curtain ...

Known by my high school theatre arts teacher as nzsvz9

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#22) On March 25, 2009 at 8:48 AM, russiangambit (29.45) wrote:

> russiangambit, debate is good. The absence of debate, intimidation or outright suppression of it is not.

Endless debate for its own sake makes no sense. Debate should have an end goal. I am very familiar with debate since as an IT architect it is my job to convince high level people who don't know much about IT to go with one or the other solutiion, or accept an argument that I am being wrong on something and go redo it (makes one rather humble having this type of job). However, the debate has a goal to accomplish the best solution possible within the constraints of time and resources.

It seems our politicians do not operate under the same constraints of time and resources. They go on and on and on like debate is a thing unto itself, self sufficient without any need to accomplish anything more.

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