You Are Grounded Until You Prove to Me You Can Be Trusted. There's going to be some new rules in this household people and they 'will' be obeyed -- or you will face the consequences.
That is what the American people and their representatives and President should be telling these large companies and banks that have abused their consumers and customers over the past few years.
That's what we'd all do if we had a teenager that disobeyed or abused the laws of the household -- why should these runaway companies and their leaders be treated any less harshly?
It's time to lay down the laws.
We common everyday citizens face laws and rules everyday of our lives, rules for this, rules for that. Why shouldn't these CEO's and their companies have to face stricter rules at a time where they so blatantly ignored common sense and the possible damages they could and did cause -- because of their greed?
You Are Grounded until you prove to the American people that you can run a company and handle the people's money like adults.
President Barack Obama will be appearing on the Jay Leno "Tonight Show" tonight at 10:30 central daylight time.
There are some republicans (shock) complaining about Obama taking time away from Washington to go on a talk show. There are also political pundits accusing Obama of "slipping pass" NBC's "Meet the Press" with David Gregory, as though it wasn't 'famous' enough for Obama to appear on.
They are all wrong.
President Obama promised to "stay in touch" with the American people. That means going on shows like the Tonight show and having prime time press conferences.
Going on the "Meet the Press" show or any other Sunday talk show gets the attention of political pundits and political nut cases like myself; but if you want to talk to 'normal' people, you go to the root base. Talking on Sunday talk shows is like having a "club" meeting. The members/workers of that club never really get 'all the facts' from any such meeting.
So Obama, have at it! Let the 'people' know how you are doing and what you are thinking about doing. Ignore the Washington and political pundit groups.
I wrote awhile back on President Obama's 50th day anniversary about all the things he and his administration have been working on since January 20th of this year. It was a schedule most could never keep up with. Many of you agreed.
This administration is working with the Treasury department (that is short on hands because of vetting or confirmation hearings) to try and solve or at least curb the domestic and global economic mess they inherited. Never before in history have we seen such a mess in such a short amount of time.
Yet, even knowing all these facts, the media, political pundits along with members of the GOP are demanding that the administration find and pay attention to needles in a haystack!
I call them needles because they've been 'happening' for many years without anybody raising cane over them. Only now because we gave them taxpayer dollars to stay afloat, are we hearing complaints.
Where is the outrage over what AIG and other bailout companies and what 'they are doing' in the first place? Where are the demands for regulation on companies? Didn't all this stuff come out during the Enron scandal? Did anybody demand changes back then? Why didn't companys change their ways back then?
Those bonuses that everybody's upset over are, unfortunately, written contracts these companies made with employees -- the government cannot force a company to break the law and ignore a contract.
Think of it this way folks. If you get a loan from the bank telling them you are going to fix your roof (improving the value of your home) and turned around and spent it on a vacation instead, should the bank then be allowed to demand the money back? That's basically what you are asking the government to do with AIG.
As for when somebody knew about the bonuses at AIG and when they didn't -- because of the above facts it doesn't make any difference.
Besides, Obama's and his administration were/have been taking on a historical economic mess, a health care crisis and war time events, all within less than 50 days in office. Asking them to sit down and find ways to get out of a company's business contract is just plain nuts when it was the company itself that should have been STOPPING THE BONUSES or at the very least doing what they claim to be doing now - asking for the money back.
What about pensions. Look at Governor Blagojevich who just got
impeached. Will he lose his pension? Probably not. Did Illinois Governor Ryan
lose his? Anybody know?
How about pensions given to state
legislators, state representatives/senators who then become House or
Senate legislators and move on to a cabinet position or even the vice
presidency or even the Presidency. Each job allows for a life time pension. George HW Bush did all that.
Barack Obama has went that through some of that process as well.
If legislators
screw up, like George W Bush did, will they be punished for a bad job?
Will former President George W Bush and Vice President Cheney and their administration all be taxed
extra for helping to allow the economy go into a near depression and for getting us into two wars we'll probably never completely get out of?
I doubt it. They'll all retire with large life time pensions never having to ever worry about expenses again.
When the first installment of the Troubled Asset
Relief Program was passed it was the Bush administration and GOPers in
Congress who wereinsistingthat caps on executive compensation not be part of the legislation.
As the New York Times reported
at the time that TARP was being crafted, "Congress and the
administration remained at odds over the demands of some lawmakers,
including limits on the pay of top executives whose firms seek help."
Former Treasury Secretary Hank Paulson said that while he was
upset with the levels of salary afforded to top executives, any cap on
such would dissuade companies from participating in the TARP.
"If we design it so it's punitive and so institutions aren't going to participate, this won't work the way we need it to work," he told Fox News Sunday on September 21.
Senator Richard Shelby, the top Republican on the Senate Banking
Committee, told CBS news that: "It should be up to the board of
directors of a private corporation to set the compensation of an
executive; it shouldn't be Congress's role."
Senator Mel Martinez told CNBC that:
"While it is very appealing to think about executive compensation as
being a part of this, one of the drawbacks to that is perhaps that we
would have fewer entities participate in what is essentially a
voluntary act."
And House Minority Whip Eric Cantor, "outraged" over AIG's issuance of $165 million in bonuses, said he was not
in favor of "the federal government be[ing] able to set salaries across
the board," when the issue of executive compensation arose in September
2008.
The issue extended to when the Obama administration was tasked
with writing its own version of the TARP. Senate Minority Leader Mitch
McConnell, likewise dismayed over AIG's bonuses this past week, said back in early February
that while he was "appalled" at some of the perks executives had
received, he did want "the government to take over these businesses and
start telling them everything about what they can do."
I like most people do not think government should be controlling
what bonuses are paid to whomever; however, I like most people think
it's also outrageous that 'anybody' should deserve anything like a
million dollars or more as a bonus for ANY job without guarantees of
some sort in return. Where is the incentive to get things 'done'?
If anybody deserves a bonus like that it would be our President and
every member of Congress (yes even the previous ones). They are doing
the 'people's' work, not just the work of one company.
It's odd the outrage over these bonuses and how Congress is now
thinking of adding taxes to the income of those who got them. When
Enron literally destroyed thousands of workers pensions, were those
CEO's charged additional taxes on their income for doing such an awful
job and stealing money from law abiding workers? Nope. Most walked
away leaving millions to their families.
What about pensions. Look at Governor Blagojevich who just got impeached. Will he lose his pension? Probably not. Did Governor Ryan lose his? Anybody know? How about pensions given to state legislatures, state representatives/senators who then become House or Senate legislators and on to a cabinet position or even the vice presidency or even the Presidency. George HW Bush did all that. Barack Obama did part of that too.
If these legislators screw up, like George W Bush did, will they be punished for a bad job? Will former President George W Bush and Vice President Cheney be taxed extra for helping to allow the economy go into a near depression?
Personally, I think this AIG is a made up distraction by the GOP.
They've found something that outrages us all and they are hoping it
sticks to Obama's and his team. I have a word of warning to the GOP.
Attack Obama and lose big time in 2010. The facts are out there for
everyone to see. Obama's been in office a little over 50 days -
Americans know he's not to blame for this mess and if all the GOP
continue to do is attack him and fight him on every issue, Americans
will know who 'really' wants to get things done and who doesn't.
Didn't we just undergo a massive attempt by an Illinois
Governor to brainwash potential jurors against indicting him in any future
prosecutions?
Remember when Impeached Governor Blagojevich of Illinois, went on
almost every television outlet to try and convince Americans that it was 'he'
that was the 'good guy' here and the Illinois congress that was doing a hit job
on him, Illinois constituents and his administration."From the very moment of my reelection,
I've been engaged in a struggle with the House to try to get things done for
people," said Blagojevich.
Today, we heard from former Vice President Cheney on CNN's "State
of the Union" show, that the Bush administration's "alternative"
interrogation techniques were "absolutely essential" to preventing
further assaults like the September 11, 2001, attacks on New York and
Washington."We've accomplished nearly
everything we set out to do."
Brainwash: We've been engaged in a struggle with the Democratic Party to try to get things done for
people and keep them safe.
Cheney also said, "The Obama administration has endangered Americans and
opened the country to further attack by reversing Bush administration
anti-terrorism policies such as harsh interrogations of suspects."
Former VP Cheney knows that at some point, we can be 100%
assured that we 'will' be attacked again.He knows that no matter who is in control of the White House that day or
what policies are in place, odds are, it will happen.History shows us that every few years, something major happens. VP Cheney is just getting it on record this comment so
that the Republican Party can use his warning politically at some later
date.
Problem is, Ari Fletcher, Bush's own former press secretary
stated the following recently while being interviewed by Chris Matthews on
Hardball, "So if Barack Obama were to receive something like that, I would not
do what you did. I would not be critical of the incumbent president. I would
say this is part of the reality of how hard it is to govern in a world of
terrorism and that I wish President Obama tremendous success in stopping
terrorists who come here. I wouldn`t put the blame on his shoulders. I put the
blame on the shoulders of the terrorists who tried to attack us."
That statement is hogwash; but none the less it contradicts VP Cheney's comments.
Former VP Cheney and the rest of the Bush administration
(such as Ari Fletcher's recent interview with Chris Matthews on Hardball") are
trying to brainwash any potential jurors.They know that at some point, their policies and actions will be taken
to task in a trial.They may not be
directly involved in those trials but they know the trial will be recorded along
with any mentioning of their administration's actions in America's history. They are hoping to convince Americans to 'understand' their motives.
VP Cheney has once again admitted to war crimes.Secondly, he's admitted that President Obama
is coming through on his campaign promises by changing the way do business when
it comes to handling a war and our enemies.He's taking us back to following the Constitution of United States.
I pray to the good Lord that he assists the Obama
administration in finding the courage and conviction sometime in the next three
years to go after the Bush administration and their war crimes.It will not only make those involved face up
to their crimes, it will make America look and feel stronger in the long run by
admitting our wrong doing to others on this earth. Something that most nations refuse to ever do. Judge themselves.
President Obama will provide billions of dollars in federal lending aid aimed at struggling small business owners.
The broad package of measures to be announced Monday includes $730
million from the stimulus plan that will immediately reduce
small-business lending fees and increase the government guarantee on
some Small Business Administration loans to 90 percent. The government
also will take aggressive steps to boost bank liquidity with more than
$10 billion aimed at unfreezing the secondary credit market
"It's a huge step in the right direction," Giovanni Coratolo, director
of Small Business Policy at the U.S. Chamber of Commerce, said
Saturday. "In this economy, having the least amount of risk for banks
will incentivize banks to lend to small businesses. A lot of small
businesses will benefit from this."
This
comes as Republicans have sought to build on some bipartisan
misgivings over Obama's ambitious spending blueprint. In
particular,Republicans say Obama's budget proposal to raise taxes,
starting in
2011, on individuals earning more than $200,000 and on households
earning more than $250,000 will hurt small businesses which face higher
dividend taxes and limits on itemized deductions...
First
off, if there had been no stimulus packaged passed, there would be no
federal loan aid to small business, so give Obama and the Democrats
credit for planning ahead.
I'd also like to remind folks that
it was President George W. Bush that put the DEADLINE on those tax cuts
for those earning more than $200,000. That's how he got his bill
passed remember, by promising not to continue the tax cuts in 2011.
President Obama is just following through on Bush's orders.
Think
of it like a credit card contract. They offer you an interest rate of
4% for a year to get you to come to their company; but when that year
is up your interest rate increases to 12%. Just because a new
president comes to work for the company doesn't mean he is obligated to
give you that same interest rate, especially when he other problems to
face to save the company from the previous administration's screw ups.