Thursday, March 19, 2009

Congressional demagoguery rings hollow


Ok, the economy tanks because of an unsustainable credit and real estate bubble pushed along with the full knowledge and cooperation of Congress. Said Congress votes to subsidize the breathtakingly poor decisions made my many powerful banks and investment firms.

Shocker of shockers, to prevent a massive exodus of brainpower and talent out of AIG, American International Group offered hefty retention bonuses to several of its exectives, with the full knowledge of the Secretary of the Treasury, renowned tax cheat Tim Geithner.

The American public catches wind of the rotten mess and is righteously outraged.

Congress, in the most blatant example of cover-ass I've seen this side of an aircraft carrier the morning after a port call in Bangkok, begins howling for the executions or honor-suicides of the AIG execs who were slated to receive retention bonuses.

In an even more breathtaking act of hypocrisy, they voted on Charles Rangel's HR 1686, a bill to tax the bonuses at 90%, passing it 328-93. The whole affair reeks of an unconstitutional ex post facto law, a violation of Article I, Section 9 specifically. On the other hand, it's been a long time since our Executive, Legislative, and Judicial branches gave a shit about the Constitution their oath of office charges them with upholding.

This act of utter hypocrisy was passed by the same House that in October voted 263-171 to give these blundering firms 1.3 trillion dollars in citizens' expropriated money. Pardon me for not being as pissed off at the executives at AIG as I am at the Parliament of Whores on Capitol hill.

No comments: