Thursday, March 19, 2009

TARP Bonus Recipient Punishment Bill in Da House!!!

I've had mixed feelings about the whole AIG bonus controversy that's been dominating the news this week. Of course it's pretty insulting that everyone at the Financial Products division is getting big bonuses after basically bringing down the whole economy by themselves. And I'm pretty sure some of those cats should be going to prison for fraud.

But the media feeding frenzy seems awfully contrived and the Congressional reaction has been transparently contrived. It all seems like they all watched the Jon Stewart drubbing of Jim Cramer and felt like they just had to find something to get really angry about. This AIG stuff is outrageous but no more outrageous than any of the other nasty stuff we've been hearing for months and months about the larger Wall Street environment or some of the more specific things about private planes and refurbished offices, etc.

However, the Congressional Democrats felt the rage and proposed a plan to do something about it - to recoup the bonus money back for the taxpayers by taxing the hell out of the assholes that got paid to destroy the economy. And it passed the House of Representatives just now by an overwhelming margin.

Here's how YOUR Louisiana Representatives voted:

01 Steve Scalise: NAY
02 Joe Cao: YEA
03 Melancon: YEA
04 Fleming: YEA
05 Alexander: YEA
06 Cassidy: YEA
07 Boustany: NO VOTE


Tim said...

This is probably not constitutional. You can't pass a retro-active law, can you?



mominem said...

It wouldn't be the first time Congress passed a law they knew was unconstitutional to satisfy public opinion.

As Jay said to Barack last night, What if everyone decided they suddenly didn't like you?