Tuesday, March 17, 2009, AM | 1 Comment
Yesterday, I posted an article about Finally somebody spoke up about AIG but half-heartedly. In that article, I mentioned at one point, that short of hanging them, the elected officials should do everything in their power to revert the AIG bonuses. I commended Bonnie Frank for coming out and I strictly mean financially. Now Senator Charles Grassley, R. Iowa, came out but more strongly and suggested that AIG executives should either resign or go commit suicide.
You know we have become to feel that way. We are sick and tired of this charade of bonuses going on for so many years. It used to be private money, AIG’s own money. Even then the exuberant amount of bonuses had the stakeholders and shareholders share in it.
That was then, this is now. It’s the public money – whatever that means. I say that because public money does not seem to be anymore what the founders of this great nation had in mind. I always heard that public money was always taxpayers’ money. But recently, I have been hearing that there is no direct correlation between taxpayers’ money and government money.
I always associated public money with the mentality of a third world country. Back there, public money and taxpayers money always belong in the pockets of presidents and prime ministers and their cronies. Back there, these people hire snakes and let them guard the Treasury. Only they can access the money and only when they want to use it for their private adventures or more likely misadventures because sometimes they end up in the gutter of people’s wrath.
I know AIG and others are not elected officials but the money comes indirectly from the public treasury. See, subconsciously, I use the word “public” with treasury. That’s what we have come to know. It does not come directly from Internal Revenue Service – the IRS, where taxpayers’ money is stored and saved behind a firewall under the IRS mattress. So it is not taxpayers’ money per say. But eventually, sooner or later, it will come out of the pockets of the American people.
Turn up your speakers and listen to Sen. Grassley’s comments.
Moral of the story
I can’t think of anything. I am still thinking about Sen. Grassley’s comments.
What do you think?Facebook.com/doable.finance