Welcome to the USSA Options

[impala454]

http://www.chron.com/disp/story.mpl/front/6320729.html

They're going to vote on putting a resolution through to impose a 90% (yes, nine zero) on the AIG bonuses. This is absolutely preposterous, and turning to socialism at its finest.

President Barack Obama, who took office just under two months ago, told reporters Wednesday that his administration was not responsible for a lack of federal supervision of AIG that preceded the company’s demise. But Obama added, “The buck stops with me.” Obama said his administration was consulting with Congress on creating a new “resolution authority” to seize giant institutions like AIG — including all their toxic assets — whose collapse in normal bankruptcy could cause calamity in the financial markets.

So, not only does he say he's not responsible for the bill he signed, but feels he's justified in creating a new bureaucratic structure for the purpose of seizing private institutions!??! This sets a precedent for our democrat pres/congress combo that scares the hell outta me. What are they gonna do next? Tax the EIB network for everything they've got so they can shut down Rush Limbaugh?

[Mommy]

I see it both ways. Cutting executive pay or ridding them of bonuses isn't the answer to the problem. On the other hand, when there are so many people without jobs, maybe that money would be put to better use by creating jobs within the company.