AIG Bonuses Demand A New Pecora Commission
AIG Bonuses Demand A New Pecora Commission
March 15, 2009 (LPAC)--Popular anger over taxpayer bailouts could be tipped over the edge by the Obama Administration's unwillingness to say where the AIG bailout money went, writes Washington Post senior columnist Jim Hoagland, who is clearly alarmed by what he calls the gathering forces of radicalization and social explosion in the U.S. Citing Larry Summers' refusal to answer a question about AIG, Hoagland warns that the government needs to "get in front of what could become a destabilizing public anger," and explain what happened, or else things could get out of control.
Lyndon LaRouche's approach is more to the point: call a Pecora Commission hearing immediately to unmask the full extent the crimes involved in the efforts to bail out the British imperial system. Expose it, and change it--or face the pitchfork brigade of incensed Americans.
Hoagland's alarms came even before the news broke on Saturday night, that AIG will pay $165 million in bonuses to executives in its Financial Products division, the subsidiary whose derivatives trading bankrupted AIG. U.S. taxpayers have so far coughed up $173 billion in federal bailout funds to keep the AIG charade going. It was reported last week by ABC that AIG's Financial Products Group--the epicenter of the AIG collapse--is based in London; it was responsible for losing almost $500 billion.
These bonuses come on top of $121 million in bonuses already paid out by AIG while it sucks on the taxpayer teat.
News stories claim that Treasury Secretary Geithner allegedly objected to the bonuses, but that AIG said they were legally obligated and could not be canceled. AIG's chairman Edward Liddy said he can't retain "talented staff" (the very same staff who lost billions gambling in derivatives such as credit default swaps!) "if employees believe that their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury." (Continued and arbitrary bailouts by the U.S. Treasury are apparently OK.)
When Administration spokesmen tried to defend this "legal contracts" ruse on the Sunday talk shows, a couple of the hosts pointed out, in a clear reference to auto worker unions and others, that workers are constantly being asked to give up contractually-guaranteed wage increases and benefits.
The only solution to the new dark age crisis is in going back to the most profound level of ideas embedded in our Hamiltonian American System of physical economic science, now significantly refined through the LaRouche-Riemann method! Everything else is just more of the same, though on a world wide genocidal scale, waste of time! Let the post Bretton Woods System go, it is a dead skunk which can never be revived. While you still have the liberty given of our forefathers and the free will to act, do so act within the only defensive effective means to save our nation, go with LaRouche. Oh, by the way, only LaRouche, "The Lone Economist", was right!
March 21st Webcast Invitation for the free and the brave solutions.
When was Lyndon LaRouche right about anything?
ANYbody?
ANYbody?
March 16, 2009 8:09 AM | Reply | Permalink
The better question would be "When was LaRouche WRONG about anything?" Any examples? He has been right on about this financial blowout, and forecast it back in 1994 !!! Way ahead of the curve.
March 16, 2009 12:20 PM | Reply | Permalink
Someone who has predicted financial collapse every year for over a decade, including believing the Y2K bug would have catastrophic effects upon the global economy, does not deserve credit for "predicting" the current economic downturn. This only validates the veracity of the old adage: "even a broken clock has the correct time twice a day".
LaRouche has been wrong far too many times to properly list them all in a short reply, but I'm more than happy to list just a few of his remarkably imbecilic errancies
Lyndon LaRouch was wrong:
March 24, 2009 11:53 PM | Reply | Permalink
Oh please Pat. Lyn has been doing the same thing for over 4 decades in running a cult of personality. The whole thing revolves around the same motif.
-economic collapse
-A New Dark Ages
-Nuclear War
-Raise money so Larouche can live a great life and you live off of the scraps, if you are lucky.
-Repeat, wash, rince and repeat again and again.
Larouche and dozens of his followers were convicted and sent to prisons for hijacking the funds of the elderly and committing credit card fraud. We flew many friends of Pat's across the Atlantic to be on the lam from a Grand Jury.
How much money has Larouche and the cult repaid to thier lenders????
Let us see, we ahve at least a quarter century and nearly 300 million dollars raised since the early 1970s, so I guess maybe a few pennys could have made their way to help the people we screwed.
The one prediction that Larouche has been ABSOLUTELY CORRECT on was made in the early 1980s when he told many of the members that THEY WILL BE WORKING OUTDOORS AT CARD TABLE SHRINES FOR HIM for ever and ever.
There are some great sites to laern a lot more about Laoruche and the cult including.
justiceforjeremiah.com
kenkronberg.com Remember him Pat?
laroucheplanet.info
lyndonlarouchewatch.org
factnet.org under discussions has thousands and htousands of posts by former members about how this whole Bizarro World works.
March 18, 2009 9:20 AM | Reply | Permalink
The Oligarchs and their low life lackeys are feeling the heat, eh, and you L.M. do not like that because laRouche is so very effective in rallying real patriots from around the globe against them? Tell the truth who do you work for? Bring forward your notable champion of vice and debate laRouche concerning the last 50 yrs. of current history as to what really happened to our nation and the world! Who has the balls to come forward? Your half-truths are bullshit, good to cover your own ass, but a slippery slope to hell for anyone who falls for it! For daring to speak truth to the unspeakable powers, thus unmasking these evil untouchables and their world class criminal tools, traitors, and fools, the fearless folk hero and true American patriot, Lyndon LaRouche was railroaded. Many of those same enemies of LaRouche and of our nation today, still remain protected by the opinion makers of the opinion makers above the law. He was in fact an American political prisoner of George H. W. Bush.! Unlike you and your fiends, LaRouche is the only living economist on the planet, who was always right! LaRouche's ideas concretized as policy of the United States would save this republic, and the enemies of this nation do not want the nation state to survive under Globalization(Empire). What is needed now is an all-out mobilization to ensure LaRouche's plan goes into effect—and that those who seek to block it are removed from power. If we would have listened to LaRouche the world would not now have come to endless bailouts and the brink of a new dark age.
March 21st Webcast Invitation
March 9, 2009 (LPAC)--On March 21, 2009 at 1 pm Eastern Time (10 am Pacific), leading economist and former Democratic Party Presidential candidate Lyndon LaRouche will address an international webcast of the utmost strategic importance for not only all American citizens, but for individuals everywhere. The topic: War Against the British Empire! The event will be broadcast live at http://www.larouchepac.com
As LaRouche outlined the theme on March 7: ``We are presently in a state of war. It's a war against the British Empire. The United States' existence is being attacked by the British Empire, and we have this crazy fascist, former Prime Minister of England Tony Blair coming in, and brainwashing a bunch of not only our citizens, but some of our members of Congress.'' They are attacking us, and our President, on every front, using Wall Street and any other fascist asset, like George Soros, which they can.
``So, now we're out to win war! And everything we do, every day, is to mobilize in the morning: You know, at Reveille, you're going to get up, and you're going to start fighting war! And some of the people will start fighting the war before Reveille, just to get things moving. We're out there for a war against the modern equivalent of the Liberty League, the bunch of traitors, the bunch of Fascists whom we fought in the 1930s in the form of the Liberty League which now represent the crowd behind Gingrich and so forth today. So we're going to fight that war, and we're going to win it: That's our major objective.''
Tune in to www.larouchepac.com at 1 pm Eastern (10 am Pacific) March 21, 2009.
March 19, 2009 9:59 PM | Reply | Permalink