Friday, February 13, 2009

PELOSI & FRANK HAVE GOT SOME 'SPLAININ' TO DO

Keeping it short because . . . well, what analysis do you need? Here's the headline:
Congress Kills Plan To Recover Wall Street Bonuses
What explanation can congressional Dems possibly have for why they removed the Wyden-Snowe Amendment -- "without explanation in closed-door talks" -- from the "Stimulus Bill"? That amendment, proposed by Senators Ron Wyden (D-Ore.) & Olympia Snowe (R-Maine), would have:
penalized companies that paid bonuses greater than $100,000 to executives after receiving government rescue funds last year. The companies would have had to repay within four months any portion of the bonus above $100,000 or face an excise tax of 35 percent on the portion of the bonus above $100,000 [and] would have raised as much as $3.2 billion.
But The Insiders, presumably Nancy Pelosi and Barney Frank and Harry Reid and all the other muckety-mucks who care more about their friends on Wall St. than about the American taxpayer stripped the Amendment out.

Behind closed-doors.

And, of course, I think it's legit to ask where Obama was while this backroom dealing was going on. Assuming he wasn't with them behind that closed-door.

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8 Comments:

Anonymous Applesaucer said...

Well, we knew this was inevitable, right?

Here's what's going on: the castle is on fire; it's time to stuff your pockets with as much loot as you can carry before it burns to the ground because when it does, there won't be anything left.

Bailout and stimulus plans? Just a last chance to get something while the getting is good.

At some point, many of the banks receiving bailout money will be nationalized. When that happens, their executives and top "earners" will have sucked these places dry, leaving nary a crumb for even us pigeons to nibble on.

Somebody asked in an earlier thread what can be done. The answer: nothing! Be smart, protect your savings, ease out of the dollar, etc.

If you're investing your hopes and dreams into Obama, you're a lamb leading yourself to slaughter. He's ushering the "loot and get out of Dodge" plan along. He's not Bush or McCain and he's a rock star -- good things, both -- but he's beholden. He proves it time and agin with his appointments, no matter what comments he makes.

Applesaucer

7:29 AM  
Blogger Mike said...

He's ushering the "loot and get out of Dodge" plan along. He's not Bush or McCain and he's a rock star -- good things, both -- but he's beholden. He proves it time and agin with his appointments, no matter what comments he makes.

Well-stated.

7:47 AM  
Blogger Smitty said...

the castle is on fire; it's time to stuff your pockets with as much loot as you can carry before it burns to the ground because when it does, there won't be anything left.

Well-said, Applesaucer, and Mike has been right all along. I really appreciate you being on top of this and explaining it on your blog in such a way that I see it. Your last post that mapped it all out was perfect for me and my limited intellect (damn beer...see: buffalo theory, brain cells, and mine's relative weakness). I mean it; I'm not being a smartass. This has been great work.

Back to Applesaucer's comment I highlighted above:

This is it. You have it right on, that they (COngress) have the means to simultaneously set up their own futures while looking to the masses (me included, until I finally grasped all of this) like we are being helped. Democracy for the few.

12:51 PM  
Blogger Weaseldog said...

They set the castle on fire!

Of course they had a plan in place to loot it before it burns down!

2:11 PM  
Blogger Mike said...

Well-said, Applesaucer, and Mike has been right all along.

Applesaucer's been righter than I have for longer. I have to give him credit for leading me to a lot of the stuff I've read the last couple years that clued me in to this stuff.

9:28 AM  
Blogger DED said...

Oh well, so much for hope.

2:51 PM  
Blogger Edwardo said...

Well done exposing this vile business.

Next to "Say it ain't so" Joe Lieberman, Nancy (the representative from Star-Kist Tuna) Pelosi, is the D.C. politician I loathe the most. If President Obama is to have any chance at being what most of us expect he will never be, he must use the bully pulpit to tell the truth to the American people, and he must wage war against the rancid standard bearers of his own party, Pelosi and Reid. Short of that, his Presidency will go down hill from its already unpropitious beginning.

Vegas odds 500 to 1 against.

1:06 AM  
Blogger Mike said...

Pelosi, is the D.C. politician I loathe the most

I find Reid even more repulsive. And Barney Frank's role in this mess is reprehensible.

8:23 PM  

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