Wednesday, March 18, 2009

AIG & Obama Administration: Complete Incompetence

The AIG debacle has gotten beyond comical.

Back in Sept 08, the US government said AIG was too big to fail. The US government took a majority ownership and began handing out some $85 billion.

Here's a company with over 100,000 employees in 130 countries that lost almost a $100 billion in one year ($65 billion in one quarter). What a prize for us taxpayers.

How a bonus plan was created for executives responsible for the lose is beyond any reasonable person. In the big picture, $165 million in paid out bonus is a pittance. Greed gone amok? Certainly. How does anyone even get paid, little own get a bonus when you lose $100 billion? Given the management team's failure, this is a PR debacle for the ages. Why would any one buy anything from this company now?

That'd be bad enough but enter the Obama children, aka, administration. President Teleprompter Obama, the college-boy, tax-cheat Geitner Treasury Secretary, and the blathering fool from MA, Rep. Barney Frank put on this "I'm appalled" and "we did not know" attitude.

They thought they could get away with it. It is just too good for the MSM to not make fun of them and run with the stories. What media personality does not love catching high-level politicians in these outright lies? The Democrats can't backpedal fast enough. There must be a wag-the-dog in the works from the Obama spinmasters.

The incompetence at so many levels is staggering.

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