Basketball-conomics
Duke Coach to Obama: Worry About the Economy, Not NCAA Picks
The Duke coach isn't the only guy saying this. Don Imus was on Laura Ingraham this morning and he said the same thing. Tony Kornheiser of PTI said it yesterday on his show. He said something like, "I like the guy, I don't like his picks, and shouldn't he be worrying about the economy and not the final four?"
Don Imus went one step further and ranted (as he does) about how incompetent the President is acting. To paraphrase, he says that the Stimulus bill didn't make it past the White House and the Treasury with that provision that allowed for bonsuses without either Geitner or Obama's approval. And what's more likely, is that Dodd was told to put that provision in there (by the administration, he's claiming) by one or either party. Why?
AIG put a lot of money toward the Obama campaign. That's just one reason. It may not be THE reason.
The other thing about this that is upsetting is the fact that Geitner (or at least his staff) knew about the bonuses the last week in February, and then the day of the pay out President Obama and Congress decide to act all outraged, when they all probably kenw weeks in advance. It's just outrageous that they are outraged, because the bill they all signed forced AIG to honor those bonuses.
Which brings up another point ... Imus had a Senator on his show this week and asked him, you all signed this bill didn't you read it and know that the bonus provision was in there? The Senator said I read most of it but didn't go line by line, and he said you'd be hard pressed to find a Congressman that did.
I'm disgusted. They didn't read the bill that is going to cost my children their future, and now they are indignant because the bill they passed allowed for AIG to pay out these bonuses. It's ridiculous.
What's worse, is now they are retroactively applying a 90% tax to bonsuses paid with bailout money. But as the New York Post points out, many of those banks were forced to take bailout money from the Fed, and then with provisions that compensation and bonsus rules like these would be "off the table."
And I don't like these rushed through laws that are aimed at taking more money out of the market and putting more into the Fed. If they really wanted to keep money in the Fed they wouldn't have written these huge checks to begin with. These are power grabs. And giving out money like this has given Washington enormous control over private businesses.
I don't know about you, but I don't want those Congressional idiots or a guy that can't go off script to introduce his secretary in charge of the private sector.
The Duke coach isn't the only guy saying this. Don Imus was on Laura Ingraham this morning and he said the same thing. Tony Kornheiser of PTI said it yesterday on his show. He said something like, "I like the guy, I don't like his picks, and shouldn't he be worrying about the economy and not the final four?"
Don Imus went one step further and ranted (as he does) about how incompetent the President is acting. To paraphrase, he says that the Stimulus bill didn't make it past the White House and the Treasury with that provision that allowed for bonsuses without either Geitner or Obama's approval. And what's more likely, is that Dodd was told to put that provision in there (by the administration, he's claiming) by one or either party. Why?
AIG put a lot of money toward the Obama campaign. That's just one reason. It may not be THE reason.
The other thing about this that is upsetting is the fact that Geitner (or at least his staff) knew about the bonuses the last week in February, and then the day of the pay out President Obama and Congress decide to act all outraged, when they all probably kenw weeks in advance. It's just outrageous that they are outraged, because the bill they all signed forced AIG to honor those bonuses.
Which brings up another point ... Imus had a Senator on his show this week and asked him, you all signed this bill didn't you read it and know that the bonus provision was in there? The Senator said I read most of it but didn't go line by line, and he said you'd be hard pressed to find a Congressman that did.
I'm disgusted. They didn't read the bill that is going to cost my children their future, and now they are indignant because the bill they passed allowed for AIG to pay out these bonuses. It's ridiculous.
What's worse, is now they are retroactively applying a 90% tax to bonsuses paid with bailout money. But as the New York Post points out, many of those banks were forced to take bailout money from the Fed, and then with provisions that compensation and bonsus rules like these would be "off the table."
And I don't like these rushed through laws that are aimed at taking more money out of the market and putting more into the Fed. If they really wanted to keep money in the Fed they wouldn't have written these huge checks to begin with. These are power grabs. And giving out money like this has given Washington enormous control over private businesses.
I don't know about you, but I don't want those Congressional idiots or a guy that can't go off script to introduce his secretary in charge of the private sector.
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