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  • November 2014
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AIG Bonus Scandal: Red Herring? Discuss….

This fascinating letter of resignation from an AIG executive appeared in yesterday’s New York Times

If it hasn’t already become clear to taxpayers, the AIG bonus scandal is a red herring….the real scandal is what our so-called “leadership” in the House, Senate and White House are doing.

Opportunists in Washington, D.C. would much rather redirect all the anger at the folks at AIG, including publishing their names in the public domain, than take responsibility for what they’ve done and what they continue to do.

For those of you who have more time on your hands and really like to drill into these issues, I have also attached a report that came out on March 19, 2009 from The House Committee on Oversight and Governmental Reform (Sidebar:  I can see SNL’s Linda Richman, played by actor Mike Myers, using this as a topic for her Coffee Talk show:  “Topic:  The House Oversight and Governmental Reform Committee neither oversees, nor reforms…Discuss!).

Anyway, Ranking Member Rep. Darrell Issa (R – Calif.) apparently didn’t get the memo on how compacent these oversight committees were expected to be and he published a juicy report on the Countrywide scandal, members of Countrywide’s club, “Friends of Angelo,” as in Mozilo, CEO of the company, the shenanigans of Fannie Mae and Freddie Mac and how Congress got paid to fiddle while the financial sector burned.  Be careful, you’ll be “a little verklempt” after reading it.

The report runs about 64 pages, so if you still have a job to go to or are concerned that you could develop “shpilkes” in your “geneckteckessoink” after reading something so noxious, here is a Washington Post summary article on it.

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