Thursday, March 19, 2009

Angry? . . . or Happy?

The rapid-fire goings on in Washington allegedly to "fix" the economy are enough to make you dizzy. As noted in the last couple days, the AIG Bonuses seem to have stolen the spotlight from where the BIG money is really going: Foreign Banks. Regardless, the posturing by so many on the Hill to make examples of big bad executives getting bonuses and to play to the masses, shows just how despicable these people are. . . and I'm talking about the Senators and Congressmen, not the executives.

Well, they are about to make good on their threat to take back these bonuses though confiscatory taxation . . . The House just passed the bill 328 to 93. Clearly this is a law that singles out a particular group for punishment... a "bill of attainder" . . . and the type of action that our Founding Fathers sought to prohibit via the Constitution.

This abuse of government makes me angry.

But wait! Now some people are saying:
"It will have a chilling effect on participation in any government recovery effort," warned Scott Talbott, senior vice president of government affairs for the Financial Services Roundtable, an industry group. "It harms middle management and the rank-and-file sales force, thereby weakening the very firms we are working to strengthen."
A chilling effect? Does this mean companies will be discouraged from taking bailout money?

Now that would make me happy!

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