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Its ironic to see the Democrats huffing and puffing about the incompetence at AIG among the executives who have the nerve to to be honoring contracts to key leders who elected to remain at the company. The Democrats say that such a violation of common sense and the public trust disqualifies the leaders of this private corprotion from being entrusted with more public money. How I wish that Congress were held to that same standard.

Is there anyone or any organization more incompetent with caring for the public’s money than the government? Have already lost accountability of hundreds of billions of dollars from TARP 1, have supported the Fed printing another 1T out of thin air, and yet have the nerve to think they should be the ones to decide who are to be declared the winners and losers.  If they wanted to be efficient about it, they should simply suspend any pretense of the rule of law, nationalize ALL assets and redistribute according to their whim.  At least it would fast track their bungling and get us to their preferred endstate.

But because it takes brains to hold on to money as well as to acquire it, socialists would soon be broke after any such grand nationalization.


update:  more on the story: http://www.ft.com/cms/s/0/4ff2f77e-1584-11de-b9a9-0000779fd2ac.html

  1. Terry Lesniak
    March 20, 2009 at 9:06 pm

    You would think the abrogation of contractual law would be the real firestorm rather than AIG executive bonuses, considering that “the rule of law”, is the foundation that separates civil society from chaos.

    On the other hand, political theater is more entertaining with specific targets. The Nazi’s understood that with the Jews.

    One wonders though, how long this politically self-anointed aggrandizement can go on, before real world problems with nuclear implications overshadows the daily hysterics of vapid politicos more intent in their self indulgence before a camera, than their obligation towards the people they are entrusted to.

    Are there no more Churchill’s to be seen?

  2. March 20, 2009 at 9:41 pm

    people were worried that a despot would test the administration within the first 6 months, but at this rate we will have imploded and self destructed before that point, why bother? you are exactly right on the rule of law: for Congress to think nophing of expediting legislation designed to pirate the money earned by contract just in order to win political theater points is a staggering inversion of the relationship between a congress and its people. For the People’s House to be leading the assault on individual liberty in such a way marks the end of the republic

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