20 March 2009

ARRRRRGHH!! They're playin' ya, man!

Enough with the AIG's bonuses!! Don't get me wrong: I'm not happy about the AIG bonuses, but that ship has sailed -and- I'm convinced that all of this hubbub is designed to distract from the true crimes being perpetrated on our economy.

Why is no one upset (in fact some seem elated) that the Federal Reserve (totally on its own authority and in no consultation with the Congress or Treasury) just decided to print yet another TRILLION dollars on Wednesday. You don't suppose that will have any effect the value of dollars held by foreign debt holders (or their desire to keep 'em -- let alone buy more) do you? No prob -- it'll be years before that manifests. And that's atop of at least 2 TRILLION dollars that the Fed had already secretly shuffled 'round to receivers completely unknown.

No accountability. And no one seems to care. Instead, let's piss and moan about $165 million -- slipped into legislation by our friend Chris Dodd --
Senator SubPrime himself (and the #2 receiver of campaign moneys from AIG -- over $100,000 last year).

All of that aside, isn't anyone even a little creeped out by the fact that Congress is attempting to set a precedent of instituting tax law that specifically targets income they find distasteful? You wanna bet that, if the technique works for AIG, it won't be used again in the future against someone else?

No comments: