Rage Against the Bonus Machine

The Economic Deathstar

The Economic Deathstar

Now we are being told that our officials are unable to curb $400 million in bonus payments to AIG because the payments are “contractually obligated” to be made.

There’s a great scene in the movie Major League where Corbin Bernsen‘s character Roger Dorn complains to the GM of the team about his contract and what he’s entitled to.  The GM then unceremoniously drops Dorn’s contract in the dirt and proceeds to urinate on it.

This is precisely the way a contract from a rogue company that we own 80% of should be dealt with.  You failed, you helped bring about one of the worst financial disasters in American history requiring a $170 billion taxpayer-funded bailout…and now you want to talk about bonuses?

Yesterday, in my subtle post AIG to Taxpayers: F%$@ You, I predicted a nationwide backlash against the executives at AIG and their ilk.   Apparently, these people have no qualms about doling out and helping themselves to hundreds of millions in tax money from the middle class knowing full well that this cash was made available to them in a bid to stabilize the economy.

My recommendation was to put the military in charge of protecting the taxpayer if Tim Geithner and Barney Frank weren’t up to the task.

My commentary here should not be construed as political, I am merely discussing the difference between right and wrong.

Today, we will see, via the mainstream media, whether or not Americans still have the conviction and guts to stop blatant theft of their own futures.  If the backlash I predicted yesterday begins today, expect to hear the fury from every corner of the nation.

If instead, we accept these bonus payments to the architects of our depression with a whimper, then I will have to accept the fact that we are a nation asleep, consumed by the question of which D list celebrity can dance and whether or not we will have the time to update our Facebook pages.

Please wake up, citizens, we are being date-raped by a company we were told we should get into bed with to avoid systemic collapse.

What's been said:

Discussions found on the web
  1. Jeffrey commented on Mar 16

    What if we update our Facebook pages about how enraged we are about this?

    Seriously, though, even my wife is furious about this… and she is about as political as a cheese sandwich.

    Maybe it is just hope blinding me, but I really do think that we are going to see some very harsh responses because of how AIG handled this…basically telling Geithner “Yeah it sucks, but you can’t stop us and we have to pay our talent”. And of course, everyone now has all this free time to watch the news because of unemployment, underemployment, etc.

  2. Jeffrey commented on Mar 16

    What if we update our Facebook pages about how enraged we are about this?

    Seriously, though, even my wife is furious about this… and she is about as political as a cheese sandwich.

    Maybe it is just hope blinding me, but I really do think that we are going to see some very harsh responses because of how AIG handled this…basically telling Geithner “Yeah it sucks, but you can’t stop us and we have to pay our talent”. And of course, everyone now has all this free time to watch the news because of unemployment, underemployment, etc.

  3. Jeffrey commented on Mar 16

    What if we update our Facebook pages about how enraged we are about this?

    Seriously, though, even my wife is furious about this… and she is about as political as a cheese sandwich.

    Maybe it is just hope blinding me, but I really do think that we are going to see some very harsh responses because of how AIG handled this…basically telling Geithner “Yeah it sucks, but you can’t stop us and we have to pay our talent”. And of course, everyone now has all this free time to watch the news because of unemployment, underemployment, etc.

  4. TGIF: Definition « commented on Mar 20

    […] Definition.  Defining what contracts really allow for was at the center of the debate over the AIG bonuses. Congress did the right thing and defined its power by approving a 90% tax on the bonus money, […]

  5. TGIF: Definition « commented on Mar 20

    […] Definition.  Defining what contracts really allow for was at the center of the debate over the AIG bonuses. Congress did the right thing and defined its power by approving a 90% tax on the bonus money, […]

  6. TGIF: Definition « commented on Mar 20

    […] Definition.  Defining what contracts really allow for was at the center of the debate over the AIG bonuses. Congress did the right thing and defined its power by approving a 90% tax on the bonus money, […]