OK. So I get it. Everyone's livid about the AIG executives receiving $165 Million of contractually guaranteed bonuses. The elites in the media and Congress are telling us how this is an example of yet another greedy corporation, run by criminals, and that they need to be punished for their excesses. What few are paying attention to is how the White House is providing cover for the real scam - more than 400 times larger than the bonuses that have everyone so bent out of shape.
Being a New Yorker, I've come to know a sucker's game when I see one, and this looks an awful lot like a giant Three-Card Monte game. Except this scam isn't for $20 or $50, or even for $100, like many street scams. This little game of hide-the-crime is being played with $170 Billion.
Robert Gibbs says no one knew about the $165 Million in bonuses until just last week, and, even though we all know that's a lie, no one really calls them on it, and the White House gets to share in the rage. In fact, Comrade Obama and his team are leading the anti-capitalist jeers. I think there are some really interesting aspects to this entire maneuver.
1. If the federal government invested $170 Billion into AIG expecting them to NOT pay bonuses they are contractually obligated to pay, then they would be encouraging AIG to break the law.
2. If the federal government thought that the contractual obligations of the company were out of line or unsustainable, then the company should have been encouraged to go to bankruptcy court, where contracts that are out of line or unsustainable may be renegotiated legally.
3. If the federal government invested $170 Billion without knowing what the obligations of the company are, then they are the most ignorant investors in the world and Tim Geithner is a moron.
This is why people who aren't morons engage in an activity known as "due diligence."
So now that we've blown their cover story out of the water, what do you suppose the REAL crime is that they want covered up? How about a $93 Billion transfer to Goldman Sachs and a handful of foreign banks? I reported on it last night here, but the question remains... why is everyone in Washington and the mainstream media apoplectic over $165 Million, while an amount more than 400 TIMES that, or $93 Billion, is quietly being transferred to a cabal of international bankers? And why does NO ONE ELSE seem to be connecting paymaster Hank Paulsen with his former employer Goldman Sachs?
Does no one think it's a big deal that the Treasury Secretary paid his former business associates though a middleman... or that the new administration seems to be protecting him and diverting attention? Meanwhile, Comrade Obama and his team smile like the murderer with a body in his trunk getting a speeding ticket and being sent on his way.
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