Well, it was an interesting week.
There was all the fall out about the AIG bonuses, the figure has risen from $165 million to $215 million and who knows what the final figure will be when its all over. Congress is making all kind of threats but we'll have to wait and see what really comes out of it.
Chris Dodd, head of the banking and finance committee in the Senate evidently did not understand the documents he had been given, not to mention the fact that he has gotten some nice contributions from the Wall street gang over the years. Had to tone down his outrage because the truth of the matter is he is either stupid or a crook. Which do you think?
Banks are still holding onto their money, even though some of them now have commercials about how they want to help with debt consolidation and refinance. They just are keeping the fine print very fine so the consumer won't know just what it will all cost.
President Obama went on the Jay Leno show and hemmed and hawed his way through questions about how one minute he is telling the people to be calm and the next minute he is telling the people its okay to be angry and outraged. He better be careful. When all the details of his budget plan come out, that anger and outrage could be pointed at him.
The President also shared his hopes for March Madness with ESPN. The country is going to hell in a handbag and he is worried about college basketball. Go figure.
Pope Benedict is touring Africa and causing controversy by saying that condoms aren't the answer to AIDS. He's right. I understand his point that the Catholic Church has always taught against contraception and that people should not be promiscuous and wait til marriage. A good moral teaching, but what do we do with the reality? Unfortunately, the Catholic Church never moves quickly when it comes to change. Education is needed, both regarding the spread and prevention of AIDS, as well as Catholic Church teaching on moral issues. As I have mentioned in the past, all Catholic should take the time to read Pope Paul VI encyclical "Humane Vitae". That is the best guide for the moral decisions that the Catholic Church has ever released.
Finally, I had a birthday this week and am now closer to sixty than fifty-five. Which means I am closer to retirement, which am eagerly awaiting, but also closer to the time when I will need to make some serious decisions about the course of my future.
The current financial situation in the world will probably force me to rethink some of my plans.
Speaking of retirement and crooks, I was glad to see the court decided Bernie Madoff can continue his retirement years in jail up until when he gets his formal sentence. I hope that he will shortly be joined by his wife and the rest of his family. What a bunch of crooks.
Keep up to date on what is happening. Write your legislators and demand actions that protect and help us, not just actions that spend our money on nothing.
Its our life and our country, we are the ones who have to make things better.
Its Common Sense!
Showing posts with label AIG. Show all posts
Showing posts with label AIG. Show all posts
Saturday, March 21, 2009
Friday, March 20, 2009
Senator Mikulski on the AIG Bonuses
Here is Senator Mikulski's views on the AIG bonuses.
Dear Mr. Wolfe:
Thank you for getting in touch with me about the outrageous bonuses American International Group (AIG) paid out to its executives. I appreciate hearing from you about this issue.
If you want to know what I think AIG really stands for, it's 'Ain't I Greedy'. People who played by the rules and are raising their families or trying to run a small business can't have access to credit. They're worried about keeping their jobs. They're losing their life savings. They're worried about holding on to their home or their health insurance.
And now the very people who helped bring the financial services and structure of the world economy to the brink of disaster want to give themselves bonuses! Giving bonuses to AIG financial executives is like giving bonuses to the captain of the Titanic for navigation. They got us into this mess. They show no remorse. And now they're saying they need to be paid extra to get us out of it.
I've sent a letter to the Chief Executive Officer of AIG telling them to voluntarily give up the bonuses. Say goodbye to the people who either don't know how to get us out of this mess or who are unwilling to help us get out of this mess unless they get a lavish bonus. And if they won't do that, I'm cosponsoring legislation to take the money back by taxing these AIG bonuses at 90 percent.
Knowing of your views is very helpful to me and I will keep them in mind. I know you're mad as hell and so am I. If you'd like to read more, I encourage you to visit my website http://mikulski.senate.gov/Newsroom/PressReleases/index.cfm where you can read the transcript of my floor statement on this issue and my letter to the CEO of AIG. Video of me speaking on the Senate floor about the AIG bonuses is available online at http://mikulski.senate.gov/Newsroom/VideoGallery/index.cfm
Again, thanks for contacting me. Please let me know if I can be of help to you in the future.
Sincerely, Barbara A. MikulskiUnited States Senator
Dear Mr. Wolfe:
Thank you for getting in touch with me about the outrageous bonuses American International Group (AIG) paid out to its executives. I appreciate hearing from you about this issue.
If you want to know what I think AIG really stands for, it's 'Ain't I Greedy'. People who played by the rules and are raising their families or trying to run a small business can't have access to credit. They're worried about keeping their jobs. They're losing their life savings. They're worried about holding on to their home or their health insurance.
And now the very people who helped bring the financial services and structure of the world economy to the brink of disaster want to give themselves bonuses! Giving bonuses to AIG financial executives is like giving bonuses to the captain of the Titanic for navigation. They got us into this mess. They show no remorse. And now they're saying they need to be paid extra to get us out of it.
I've sent a letter to the Chief Executive Officer of AIG telling them to voluntarily give up the bonuses. Say goodbye to the people who either don't know how to get us out of this mess or who are unwilling to help us get out of this mess unless they get a lavish bonus. And if they won't do that, I'm cosponsoring legislation to take the money back by taxing these AIG bonuses at 90 percent.
Knowing of your views is very helpful to me and I will keep them in mind. I know you're mad as hell and so am I. If you'd like to read more, I encourage you to visit my website http://mikulski.senate.gov/Newsroom/PressReleases/index.cfm where you can read the transcript of my floor statement on this issue and my letter to the CEO of AIG. Video of me speaking on the Senate floor about the AIG bonuses is available online at http://mikulski.senate.gov/Newsroom/VideoGallery/index.cfm
Again, thanks for contacting me. Please let me know if I can be of help to you in the future.
Sincerely, Barbara A. MikulskiUnited States Senator
Tuesday, March 17, 2009
Chinese Invasion - Where is Power to the People?
Learned something interesting today. While the majority of us are worried about things like debt consolidation, paying the mortgage, wondering how AIG is paying bonuses and why Congress isn't protecting us, there is a group of Chinese millionaires who have come to the US of A looking for real estate bargains.
Last week the Chinese Premier mentioned he was a little concerned about the value of the dollar going down and them not getting their loans repaid. The Obama Administration assured the Chinese that their was no better investment than the United States of America. Evidently a group of Chinese millionaires took the Administration at its word and they have begun a cross country odyssey grabbing at every bargain they can.
Already they have been to LA and Vegas, and some have been caught checking out the Manhattan skyline. Not to mention resort communities in places like Delaware and the Carolinas.
Remember when we were worried about the the Japanese and Saudis buying everything? Now it appears that the Chinese are interested in the left overs. While people get all excited about illegal Hispanic immigration, the Chinese, along with the Japanese and oil rich Middle Easterners, are buying up the country right under our noses without a whimper of protest on any one's part.
Before you know it we will be paying our rents, mortgages and taxes directly to foreign nations, because they will own us.
Greed just continues and the sense of nationalism and loyalty just fades away, especially for those only interested in a quick buck.
I would suggest telling Congress to protect our land but I think its too late. We owe too much due to their reckless spending and "loan" techniques. Instead of debt consolidation, they only want to see debt spiraling throughout the constellations. Through debt and real estate purchases by foreign nationals, we are losing the USA.
I would appreciate any ideas on what we can do to save the country. What is a good way to get our legislators off their butts and working for us, rather than the almighty dollar? Is it time for a true political revolution, where we turn everything upside down and try and return to the early days of a fledgling republic? It wasn't easy or perfect, but there was a beauty to it, something that is entirely missing today.
Let's fight for our country. If we don't, no one else will.
Its Common Sense!
Last week the Chinese Premier mentioned he was a little concerned about the value of the dollar going down and them not getting their loans repaid. The Obama Administration assured the Chinese that their was no better investment than the United States of America. Evidently a group of Chinese millionaires took the Administration at its word and they have begun a cross country odyssey grabbing at every bargain they can.
Already they have been to LA and Vegas, and some have been caught checking out the Manhattan skyline. Not to mention resort communities in places like Delaware and the Carolinas.
Remember when we were worried about the the Japanese and Saudis buying everything? Now it appears that the Chinese are interested in the left overs. While people get all excited about illegal Hispanic immigration, the Chinese, along with the Japanese and oil rich Middle Easterners, are buying up the country right under our noses without a whimper of protest on any one's part.
Before you know it we will be paying our rents, mortgages and taxes directly to foreign nations, because they will own us.
Greed just continues and the sense of nationalism and loyalty just fades away, especially for those only interested in a quick buck.
I would suggest telling Congress to protect our land but I think its too late. We owe too much due to their reckless spending and "loan" techniques. Instead of debt consolidation, they only want to see debt spiraling throughout the constellations. Through debt and real estate purchases by foreign nationals, we are losing the USA.
I would appreciate any ideas on what we can do to save the country. What is a good way to get our legislators off their butts and working for us, rather than the almighty dollar? Is it time for a true political revolution, where we turn everything upside down and try and return to the early days of a fledgling republic? It wasn't easy or perfect, but there was a beauty to it, something that is entirely missing today.
Let's fight for our country. If we don't, no one else will.
Its Common Sense!
Monday, March 16, 2009
Letters to the President & Senate regarding AIG Bonuses
As I mentioned yesterday, I wrote letters to the President and my senators regarding the AIG Bonus payout. Please feel free to use all or any part in contacting your representatives. We need to let the, know what we think about them wasting our money.
Its Common Sense!
Dear Senator
I just read the following article http://news.yahoo.com/s/ap/20090315/ap_on_bi_ge/aig_bonuses
Can you please explain to me why our taxpayer dollars are going to pay bonuses to AIG employees?
AIG failed, due to the greed and incompetence of its employees, without a bailout of my taxpayer dollars, AIG would be bankrupt and its employees on the street. However, due to some contract signed before we, the American taxpayer became involuntary share holders of AIG; the company is obligated to pay out $165 million in bonuses. Are we share holders getting any bonus?
I feel that Congress has definitely failed to protect the American public with this bank and Wall Street bailout. You approved billions of dollars, released it to these institutions with no controls or accountability. Now our money is being used to pay bonuses to the incompetent idiots who created our current financial crisis.
Explain to me why my money is being used in this manner?
Why hasn't Treasury Secretary Geithner informed AIG that the rules have changed and there will be no bonuses until AIG has paid back its bailout money and become solvent on its own?
Once again I feel that Congress has failed the American public and wasted our money. When will you become responsible and look out for our interests, rather than those of the fat cats on Wall Street?
Dear Mister President
I just read the following article http://news.yahoo.com/s/ap/20090315/ap_on_bi_ge/aig_bonuses
Can you please explain to me why our taxpayer dollars are going to pay bonuses to AIG employees?
AIG failed, due to the greed and incompetence of its employees, without a bailout of my taxpayer dollars, AIG would be bankrupt and its employees on the street. However, due to some contract signed before we, the American taxpayer became involuntary share holders of AIG; the company is obligated to pay out $165 million in bonuses. Are we share holders getting any bonus?
I feel that the Executive Branch and Congress have definitely failed to protect the American public with this bank and Wall Street bailout. You approved billions of dollars, released it to these institutions with no controls or accountability. Now our money is being used to pay bonuses to the incompetent idiots who created our current financial crisis.
Explain to me why my money is being used in this manner?
Why hasn't Treasury Secretary Geithner informed AIG that the rules have changed and there will be no bonuses until AIG has paid back its bailout money and become solvent on its own?
Once again I feel that the Executive Branch and Congress have failed the American public and wasted our money. When will you become responsible and look out for our interests, rather than those of the fat cats on Wall Street?
Thank you for allowing me the opportunity to voice my concerns.
I await your response.
Its Common Sense!
Dear Senator
I just read the following article http://news.yahoo.com/s/ap/20090315/ap_on_bi_ge/aig_bonuses
Can you please explain to me why our taxpayer dollars are going to pay bonuses to AIG employees?
AIG failed, due to the greed and incompetence of its employees, without a bailout of my taxpayer dollars, AIG would be bankrupt and its employees on the street. However, due to some contract signed before we, the American taxpayer became involuntary share holders of AIG; the company is obligated to pay out $165 million in bonuses. Are we share holders getting any bonus?
I feel that Congress has definitely failed to protect the American public with this bank and Wall Street bailout. You approved billions of dollars, released it to these institutions with no controls or accountability. Now our money is being used to pay bonuses to the incompetent idiots who created our current financial crisis.
Explain to me why my money is being used in this manner?
Why hasn't Treasury Secretary Geithner informed AIG that the rules have changed and there will be no bonuses until AIG has paid back its bailout money and become solvent on its own?
Once again I feel that Congress has failed the American public and wasted our money. When will you become responsible and look out for our interests, rather than those of the fat cats on Wall Street?
Dear Mister President
I just read the following article http://news.yahoo.com/s/ap/20090315/ap_on_bi_ge/aig_bonuses
Can you please explain to me why our taxpayer dollars are going to pay bonuses to AIG employees?
AIG failed, due to the greed and incompetence of its employees, without a bailout of my taxpayer dollars, AIG would be bankrupt and its employees on the street. However, due to some contract signed before we, the American taxpayer became involuntary share holders of AIG; the company is obligated to pay out $165 million in bonuses. Are we share holders getting any bonus?
I feel that the Executive Branch and Congress have definitely failed to protect the American public with this bank and Wall Street bailout. You approved billions of dollars, released it to these institutions with no controls or accountability. Now our money is being used to pay bonuses to the incompetent idiots who created our current financial crisis.
Explain to me why my money is being used in this manner?
Why hasn't Treasury Secretary Geithner informed AIG that the rules have changed and there will be no bonuses until AIG has paid back its bailout money and become solvent on its own?
Once again I feel that the Executive Branch and Congress have failed the American public and wasted our money. When will you become responsible and look out for our interests, rather than those of the fat cats on Wall Street?
Thank you for allowing me the opportunity to voice my concerns.
I await your response.
Wednesday, October 8, 2008
More money for AIG
I just came across the following article. The Federal Reserve is going to loan 30 some more billion to AIG. I guess they need to check out some spas in the Caribbean.
Write your senators and congressional representatives and say "Enough is enough"
Also anther good line is "I'm mad as hell and I'm not going to take it anymore."
http://news.yahoo.com/s/ap/20081008/ap_on_bi_ge/fed_aig
Write your senators and congressional representatives and say "Enough is enough"
Also anther good line is "I'm mad as hell and I'm not going to take it anymore."
http://news.yahoo.com/s/ap/20081008/ap_on_bi_ge/fed_aig
Tuesday, October 7, 2008
AIG Spa Trip
Below is the letter I sent this evening to my senators and congressman after learning about the outing of the executives of AIG. I thought I would share it with you. As always, if I get any response I will share that as well.
Tomorrow I will comment on this evening's debate.
Dear Senator
The news has come out that executives of AIG,who came begging for a $85 billion loan to save their butts, took $440,000.00 of our tax money to go to a spa in California. The reports are that something like $25,000.00 was spent on facials and massages.
I worry about putting gas in my car and maybe having beef once a week and these guys are getting facials?
In my mind, this type of action violates the terms of the loan and I feel Congress should get our money back. If they can afford to go to a resort, then they can work out their own problems.
I am tried of my tax money being wasted and this is an insult.These executives should be prosecuted for thief of American tax dollars, and AIG should be forced to stand or fall on their own.
Thank you
Michael Wolfe
Tomorrow I will comment on this evening's debate.
Dear Senator
The news has come out that executives of AIG,who came begging for a $85 billion loan to save their butts, took $440,000.00 of our tax money to go to a spa in California. The reports are that something like $25,000.00 was spent on facials and massages.
I worry about putting gas in my car and maybe having beef once a week and these guys are getting facials?
In my mind, this type of action violates the terms of the loan and I feel Congress should get our money back. If they can afford to go to a resort, then they can work out their own problems.
I am tried of my tax money being wasted and this is an insult.These executives should be prosecuted for thief of American tax dollars, and AIG should be forced to stand or fall on their own.
Thank you
Michael Wolfe
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