The federal government has known for at least a year that 155 million dollars would need to be paid out to AIG executives in March of this year. Yet, government officials, including Barack Obama, have reacted with mock surprise and contrived indignation. Obama and his government cronies said that they would do everything possible to prevent the payment. However, in a classic Obama example of trying to un-ring the bell, the only way he can act was after the payments were already made.
Why don't we each tell the IRS, run by the tax evader and deer in the headlights in chief Tim Geithner that we will each happily pay them $1,500.00 if they will just pay us each $300,000.00 in return. This is a formula that even the most lightweight socialist would delight in. We could make the wealthy pay for it. What an economic stimulus that would be.
He has said that he would hold up an additional 30 billion dollars slated to go to AIG until the 155 million dollars was repaid to taxpayers.
155 million for 30 billion costs AIG 1/2 of one percent outlay, for a gain of 29 billion 845 million dollars. That's not a bad day's work, is it? Its a good trade off for a democrat party led government, a party that where the greater the failure, the higher the reward in the party for the person who failed.
Obama is going to bail out those who have bought houses they couldn't afford in the first place and have failed mortgages. Where's the bailout for the rest of us who pay our mortgages and our bills?
Obama just doesn't understand business or economics, and his vapid threat proves the fact once again. Can you think of a any business or business person who would turn down a deal like that. paying 155 million for 30 billion dollars in return is an offer even the godfather couldn't refuse. Its the protection racket in reverse.
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