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The enemy is congress

Discussion in 'U.S. Politics' started by Dr.Who, Mar 19, 2009.

  1. Dr.Who

    Dr.Who Well-Known Member

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    I just read this and it has some really good points. I like how Libby ended up being a stand up guy.

    "We have met the enemy and it's the people who represent us. The blowhards and buffoons in Congress proved again Wednesday they are worse than useless.

    Ronald Reagan's famous line that "government is the problem" kept going through my head as the AIG hearing demonstrated the dangers of Washington's role in the economy. The very people, Republicans and Democrats alike, who can't balance America's budget now claim the expertise to run banks, insurance companies and automakers.

    If we let them, we're dumber than they are.


    What was supposed to be a legal lynching of AIG boss Edward Liddy over the firm's bonus plan turned into a humiliating defeat for thelynch mob. Liddy came off as a smart straight shooter, a man who gave up retirement for $1 a year to rescue AIG so it wouldn't bring down the financial system.

    He also proved himself a cut above those who aimed to make cheap headlines at his expense. I'd pay to see him question Congress on its role in the economic mess.

    Most important, he revealed the dirty little secret that much of Washington knew and approved of AIG's promises to pay retention bonuses to members of its financial products unit. That revelation came early in Liddy's testimony and punctured the hot air balloon.

    Liddy's matter-of-fact claim directly implicates the Federal Reserve, which he called the "gatekeeper" for the 80% of AIG owned by the taxpayers. He also said Treasury Secretary Tim Geithner knew of the bonus plan nearly two weeks before it became public.

    Over to you, President Obama.

    Much of the government outrage over the bonuses pool of $165 million was phony anyway, canned up for a public now being taught that the private sector is evil and must be punished. The real outrage is that the bonuses represented a fraction of the $180 billion of public money pumped into AIG without any real oversight.

    Predictably, most of Liddy's tormentors steered clear of that topic, lest they be forced to make a tough call on a complex issue.

    Liddy stands guilty of being tone deaf to the public anger on any bonus payouts at a time when people have lost their savings, their homes and their jobs. But as he repeatedly made clear, he came not to defend AIG's past, merely to clean it up.

    That puts him head and shoulders above those in Washington who follow no star except merciless ambition.

    http://www.nydailynews.com/opinions/columnists/goodwin/index.html
     
  2. chestnut

    chestnut New Member

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    The real problem is not the AIG bonuses. That's not where our focus should be.

    But the people in Washington had to divert our attention that the feds just printed out of thin air another trillion dollars.

    What!!!!!! A trillion dollars, that was not produced by antyhing.

    Any economic people on this forum care to let us know what that means.


    Ever since Obama has been in office, the congress and Obama has been doing these tactics.

    Why do you think they are going so fast and furious, every day a new controversial topic. It is so no one can focus on the important things.


    I think I read somewhere, there is going to be a Tax Tea party march on July 4th on washington.

    If it happens, I will be there.

    Obama, Dodd, Geithner, Frank, Pelosi, Reid - Impeach them all. They are going to bankrupt this country in less than a year.
     
  3. pocketfullofshells

    pocketfullofshells Well-Known Member

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    O god spending money we dont have? Defict spending? Kill them.....

    Unless it was of course 2000-2008 under Bush and republicans, then ra ra ra.
     
  4. Pidgey

    Pidgey Well-Known Member

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    Funny, isn't it? Almost twice the National Debt but at only half the interest rate:

    [​IMG]

    [​IMG]

    ...which means you have about the same debt service per year if you're just paying interest.
     
  5. BigRob

    BigRob Well-Known Member

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    I do not mind deficit spending persay... perhaps these levels are getting out of hand, but it remains to be seen.

    That said, the notion is not that they are deficit spending, it is that they promised a new era of transparency, and then rush bills through Congress that people have not read. Then they are "outraged" to find out the bill they voted for caused this problem.
     
  6. Dr.Who

    Dr.Who Well-Known Member

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    You can't keep paying the interst only forever. And when it comes time to pay the piper I would much rather have a smaller debt than a smaller interest rate.

    That being said I am glad that there is a smaller interest rate. It is the natural result of supply and demand.
     
  7. chestnut

    chestnut New Member

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    Remember, it was the dems and libs that kept screaming how much the war costs and so on and so forth. There was enough outcry about Bush and the last 8 years, and we will end up trippling that in obama's 1st year.

    I don't see where he's made a change, unless the change was he was going to spend more. Then I can agree... We've definitley seen change
     
  8. Dr.Who

    Dr.Who Well-Known Member

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    More transparancy - nope
    more accountablility - nope
    honesty - nope

    What change? I don't see it either.
     
  9. Dr.Who

    Dr.Who Well-Known Member

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    Then you agree that neither one of them is qualified to run all of America including the private sector.
     
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