Ok, I am tooting my horn on this obvious prediction (well, obvious to many here) on where this was leading to:
http://www.freerepublic.com/focus/f-news/2208901/posts
“The federal government, ruled by the SAME PEOPLE who caused this mess (Frank, Obama, Walters, Dodd, et al) are the ones who ALLOWED these bonuses to go into law. Dodd WROTE this into the bill according to more than a few sources. AIG may be a leftist funding group (Obama and Dodd at the top of their list), but they acted within the law just passed by the supermajority congress and President. You would think that these false-outraged leftist “leaders”, being a bunch of lawyers, would have read the bill and its endless legal hyperbole that THEY WROTE.
Either they did not want this to go public (nothing else Obama does is transparent) or meant it to create the ‘crisis’ they have now.
Now they have a created ‘crisis’ of bonuses with people emotionally involved in the call for corporate blood. “Never let a crisis go to waste” is a Dem mantra. Now they have a groundswell of support for MORE federal oversight/control/nationalization and dictating what PRIVATE companies do. National Socialism at its “finest”.
Obama and his Chicago Machine thugs have created a crisis and have their ‘final solution’ all ready to go. As a bonus, they have both leftists and conservatives calling for blood.
Mark my words: Obama will try to use this to cement power over all of the financial industry stating that “only the federal government (under socialist dems of course) can keep the “culture of corruption” out of finance and insurance.” If Obama and Comrades take over AIG and other such companies, their funders on the corporate boards will stay on and AIG, Citibank, BOA, and others will simply turn into more Freddy/Fannies: A leftist clearinghouse for shady deals, pork, and back door campaign funding.
The dems also then get to install loyal socialists into finance, insurance, healthcare (HMOS and providers will be next), and many other facets of life using the same formula. “
It occurred to me this morning that, if AIG is still a functioning insurance business, then it’s receiving millions, or billions, in premiums from policy holders every day. Where is all that money going? Does it stay with AIG or does it go into the Treasury? And if it goes into the Treasury, does it go into the general fund that finances all government operations? Is AIG now like the Social Security “trust fund” that isn’t a trust at all but just more money into the common federal pot?
And if so, who’s to say that when the time comes to pay, say, Grandpa’s life insurance policy, Uncle Obama won’t just say, “Grandpa was rich and his heirs don’t deserve that taxpayer money so we’re keeping it.”? I mean, if they can violate legal contracts and take back the executive bonuses, what can’t they do?