Putting on a great show: Kabuki in the House; Update: 328-93, 90 percent bonus tax passes
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If you haven’t been watching the AIG bonus debate in the House, you really should tune in.
Barney Frank is shrieking. Jumping up and down over parliamentary procedure. Blaming Bush, Bush, Bush, and then attacking GOP for “partisan attacks.”
John Boehner just finished statement: “Are you kidding me? This is joke. Vote no.”
Very effective: Almost all House GOP members have text of Dodd/Treasury/Obama AIG bonus protection clause on paper or in poster board home.
Frank has no response but to blubber.
Hensarling: “What we have here is a legislative cover-up. The Democrats could have prevented this. All of sudden, the [bonus protection] appeared and it has no parents…Here’s a newsflash: No more federal money, AIG, until bonsues are repaid. What happened to the most open, honest Congress in the history of America?”
1:59pm Eastern. Nancy Pelosi praises Democrat leadership for “protecting the national interest.”
***
GOP Reps. LaTourette and Bachus press Frank on what he knew about Dodd provision insertion in conference committee. After blustering, Frank confesses he didn’t know what was going on — and then goes back to huffing about Bush, Bush, Bush!
Just fyi: Here’s the Fishwrap of Record’s coverage for compare/contrast.
***
Update 2:45pm Eastern. The 90 percent bonus tax passed 328-93.
With a few minutes left, some Republicans are changing their votes on a separate sense of congress resolution regarding the bonuses.
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A bonus protection plan for AIG and others. Can we get a protection plan to protect our incomes and our freedoms from this government.
I wish I could. I bet franks can produce a hell of a hissy fit.
The one thing we know for certain about this whole mess is that it’s Bush’s fault – like Barney sez, “I blame B-o-o-o-o-s-h!”
I’m just thankful that all R’s, but three (rino’s), voted against the bailout. This is ALL the D’s mess. I hope the R’s stand their ground.
L
They’ll never stop breaking their arms patting themselves on the back. The fact that she could utter this comment after Frank’s hissy fit is a joke.
Pres.: I am the president. I will take the blame. I didn’t write these contracts. They were written before I became president.
?????????????????????????????????????
Nancy praises herself for leading this witch hunt.
This is what happens when unprincipled morons get control of our government.
I’d like to slap Nancy Pelosi across her smug face. Yeah, that would provide at least some sense of relief.
Bonny Fwank is shrieking? No surprise there. Bonny Fwank blubbering? That’s easy to see.
Fwankincensed? Beautiful.
“Rep Frank, there’s a brothel in your basement.”
Frank: “It’s Bush’s fault!”
Your hand would break first…
I think one unintended consequence of this whole affair is that businesses and governors will be even less likely to turn to the Feds for financial support. I hope.
Hi. We’re from the government and we’re here to help. Eeeeyaaaa!!!!!
Do other members of Congress within range of Barney’s spewing spittle need their yellow rain slickers?
And waders?
Meanwhile…as they hem and haw over $165 million….
They just keep forking over the money. So car door handle makers are too big to fail now?
Barney Wrank is a disgrace.
John Hinderaker at PowerlineBlog has an interesting (and pro-bonus) take on this whole thing:
http://www.powerlineblog.com/archives/2009/03/023114.php
* All of these payments, as to AIG’s troubled financial products division, are retention bonuses, not performance bonuses.
* The money is not going to anyone responsible for the implosion of AIG–those people, who were in the credit default swap area, are gone.
* These retention bonuses were promised to AIG employees who are responsible for winding down the company’s financial products division. At the beginning, this division had a potential exposure of $2.7 trillion. Winding down AIG’s book of business in this area was a dead-end job, and there was a great likelihood that the people responsible for the work, who knew the most about the products involved, would take jobs elsewhere.
* In late 2007 or early 2008, AIG made a deal with these employees: if they would stay at AIG until specified conditions were met, i.e., either certain business was wound down or a given period of time had elapsed, they would receive a specified retention bonus.
* As to all of the employees involved, they satisfied the terms of the bonus by wrapping up a portfolio for which they were responsible and/or staying on the job until now. As a result of the efforts of this group, AIG’s financial products exposure is down from $2.7 trillion to $1.6 trillion.
RTWT
zzz
OK.
If you believe that $165 million in bonuses are more important than $11 billion to a French financial firm, you’re helping the bailout bozos get away with it.
This Obama/Reid/Pelosi partnership gives me a mental image of the Three Stooges – paging Dr. Howard, Dr. Fine, Dr. Howard – all pretending to be qualified at what they do but the more they do, the more incompetent they appear.
How did we ever get to this state of affairs? Has all civility and statemenship gone down the drain? Have our leaders become so power hungry and partisan that they’ve lost focus on why they are in the Legislature? A pox on both their houses, to borrow an old colloquialism.
Question asked and answered.
Did anybody say that? Odd, because I’m pretty confident nobody said that.
Except you, of course.
The Constitution is dead.
oh god why am I not surprised everytime a liberal gets confronted with facts and proven wrong it always leads to bbbbut Bush!
Memo to the spluttering Fudd-Pirate:
This is YOUR baby, YOUR plan, YOUR screw-up, and YOUR problem. YOU and your cronies need to own it and quit your whining and finger-pointing. You insult every working American’s intelligence with every mangled word that attempts to crawl out of your wretched piehole. You’ll be fortunate to avoid prison for what you and your pals have done to this country.
I realize it’s high camp theater, but it’s also nauseating as hell. I’ll catch the highlights here, thanks.
bawney, this is the daytime, you’re supposed to put your teeth in in the daytime, and take them out at night in the privacy of your budoir. speech is ever so much easier with teeth, and well we know what’s better without them, no need to go there. i know you are getting old, but remember, congress = teeth, bedroom = gums.
Can’t watch on television, so can anyone tell me…is Barney Frank about to spontaneously combust in a fit of bloated blathering hot air? Could be a landmark day in the history of Congress.
Now if someone would just throw a bucket of water on Nancy Porklosi…
From the NYT link that Michelle posted:
Actually, we didn’t want you to take it in the first place.
And you’re just going to giveit back to AIG in another round of financing.
We’re *not* getting our money back.
Even the dumbest of the dumb can read, or at least ask someone to read it to them.
Look, how cute, he is pretending to care..
Looks like Bill O’reilly’s trashing of Barney Frank was “spot on”. The worst soap opera in history continues. . .”As The Stomach Churns”.
Ugggghhhh… if anybody thinks that these Congress bufoons are done stealing our money, our freedoms, our rights, think again.
This is no longer even the much vaunted “democracy” Dems claim our government is. This is mob rule run by corrupt failures in life like Barnie Frank, Chris Dodd, and the unions.
Anybody working in the financial services and insurance industries better be careful: when you make too much or get a bonus you’re public enemy #1.
What a pathetic lie this country has become.
Attacking the GOP? Those weasels? If they hadn’t been saying “yes” to everything the Dems want, we wouldn’t be in this mess.
Even when they control everything, the Dems still won’t take responsibility.
BTW, I heard Pelosi blaming Bernanke for the AIG mess earlier today. Oh well, I’m off to finish putting little propellers on everything. I look like a traveling used car lot everywhere I go. Wind power baby!
A little OT, but regarding the Prez Obama-teleprompter discussions….
Anyone else beginning to think that Prez Obama is the “Ron Burgandy” of Washington DC??
“Thanks for tuning in! Go **** yourself, America!”
That’s what I’m beginning to hear everytime he speaks….
AIG bonus recipients should challenge this in court. This is a bill of attainder pure and simple.
Just another wanton act of ripping up the Constitution that America disregards in a fit of pique and envy over the producers and successful in this country. Just another nail in Capitalism’s coffin.
Barney Fwank is the one person on earth who is most individually responsible for the whole financial meltdown and he’s the loudest and most self righteous in denouncing and blaming people.
Jeddite said
And you brought up the $11 billion to the cheese-eating surrender monkey bank, when?
I thought so. Next.
So, 90% taxation is a.o.k. as long as it’s punishing “the rich.” Make no mistake, this whole sham was designed merely to set the precedent, and guage public reaction. If there is no outcry, look for 45% lowest tax brackets coming coming soon to a 1040 near you!
Any Congressman who voted for this just commited TREASON.
Their Oath is to protect the Constitution.
This is both a Bill of Attainder, and an Ex Post Facto Law (as they are going back to tax past income).
Both are CLEARLY things denied Congress in the Consituttion.
Just saw a Demo Rep on Fox saying the Consitutional question was a “distraction”…
Wow… just… wow…
Hey, fellow Mormons:
I guess Pres. Lamech is getting everything he wants!
Wow, almost 40 responses and no one has used the phrase “Drama Queen” yet.
Kabuki Theatre presents
‘The Most Ethical Ronin Ever’
MEASURE DEFEATED!
More than 100 changed their vote…
I despise Barney Frank. Detest. Loathe. Hate. None too strong.
I believe he’ll go down in flames the next time he’s up for reelection. PLEASE tell that’s 2010. Please.
Kabuki: Japanese for IT’S HOWDY DOODY TIME BOYS AND GIRLS
Our trade association notified me they are canceling the Las Vegas Meeting and Convention this year. With the Evils of Vegas being mentioned by Barney and boys so much they are afraid of drawing attention to themselves-wimps.
It was a smaller group-with spouses and such maybe 600 hundred people-300 rooms, meals, air travel, tips- all gone.Hint: the forfeited deposit goes to the Hotels and NOT the UNION
Oh well with the Hotel Employees and Restaurant Employees Union pouring so much time and talent into Obama and the DNC it is poetic justice I guess.
While the Hotel Employees and Restaurant Employees Union and others rant against Businessmen and Republicans their own studies show we tip far more generously than the DNC convention. But not me, not in a Union Hotel, not anymore. I’ll give them an Obama/Biden button-a printed copy OF, so as not to cost me much.
Keep shrieking Barney-you “same sex attracted” types do tend to be a bit hysterical. Say Hell-o to the Hotel Employees and Restaurant Employees Union. (now I need a shower-maybe two)
—
Keep the change-I’ll keep my guns
Off topic but uplifting!
Keep them Other Dear Leader and Algore will cut off your carbon credits!
Love it, yes I do
Phil:
If the people who say they want to “take back the Republican Party” are really more than misguided, or talking through their collective hat, they need to:
(1) fire Steele
(2) DUMP all those who voted for any of the Generational Theft Acts, in any fashion, at any time.
Yes, I know it will hurt, but excising cancer often does.
The leader of the RNC proves in no case is Rosy correct:
Not only can fire melt steel, but mild disapproval by the opposition can melt steele, too.
Funny how the Democrat Socialists think the phone conversations of terrorists are none of the government’s business… but they want to publicize the names and addresses of people whose only crime was accepting a bonus that was part of their employment contract.
No, wait, not funny. What’s the other word? Obnoxious? Fascistic?
Grrrr…. Fox reported wrong… it passed….
sorry folks…
good, I love seeing the CHICKENS COMING HOME TO ROOST!!
the wealthy and the young…the biggest obama supporters…they’ll get hurt the most…love it!
DJIA & S&P 500 down by ~1% today,
but not as entertaining as the Barney Frank – Freddie & Fannie Ho-down.
A Bill of Attainder if ever there was one – it’ll never hold up in court and they knew that when they wasted our money and their time in passing it.
In fact, this entire exercise was just a distraction to fool people into thinking the Obama administration and congressional Democrats are angry that tax money went to fund bonuses when, truth be told, they knew it would all along but are now too afraid to accept responsibility for their crafting the legislation that allows it to happen.
The US Constitution:
I’m predicting the word “Nationalization” will cross their lips soon as a “protective” measure.
All magicians know that if you want to create sleight of hand you must create diversion.
Hmmmm….http://www.youtube.com/watch?v=2hRU_NoSpiQ&feature=player_embedded
I wish I knew how to do video editing to make it look like SanFranNan, Barney Wank and Hoohoo Harry.
But Dewey, Cheatem and Howe comes to mind too….along with Dr.s Howard, Fine and Howard…..
Question:
Bwarney Fwank raided Mae & Mac.
Does that make him a Fannie Bandit? Or a Fannie Pirate?
Oh my… what am I doing ? I should know better: Mormons can’t tell jokes right..
mike–it’s that LDS lsd.
Retroactive Taxation without Representation.
Is that similar to Instant Tea? It was one time tea but it has been dehydrated?
Hence, use Tea Bags for new taxes and Instant Tea for Retroactive taxes at your next Tea Party!
In car, just heard Hannady quoting a new bill being considered:
It will give Pres Lamech NEW powers to simply TAKE troubled companies…
Gee, want to bet what else he’ll be able to “just Take”?
Where is a list of votes for and against?
wight:
[grin]x3!
…to pay your taxes, send *radioactive* teabags, did you say? [wink]
Perhaps they can go on the Tim Geithner tax payment plan.
Oooh… Tim does need 17 deputies, doesn’t he?
In more than one place the Constitution specifically prohibits the legislature from punishing a group of people simply because they dislike what they do. You might not like the AIG bonuses but they were contractually sound and legal. This country is reverting to mob rule and everyone that hasn’t already done so should exercise their Constitutional right to own and bear arms for self protection while you still have that right and the Constitution still exists. The actions of this government have thrust us into dangerous times and every citizen should be wary of and prepared for what will follow.
Do any of these idiot politicians know what they are doing . . . have they even read the Constitution?
According to a screen cap from CSpan.com the vote was
For – 243 dems, 84 reps
Against – 6 dems, 87 reps
What in the everloving hell is wrong with the Republican party? I called my rep’s office in DC and explained that it was Unconstitutional. She said that they couldn’t even get a look at the bill before there was a call for a vote.
Welcome to “The Living, Breathing Constitution”(TM).
When the Japanese invaded the Philippines, and all we still held by April of 1942 was Corregidor Island, Douglas MacArthur tried to put the best face on the situation by saying, “They may have the bottle [i.e., Manila and Subic Bay], but I have the cork.”
Well, right now we’re in much the same situation. The donks have overrun the White House and Capitol Hill, but for now they don’t have the “cork” — the Supreme Court has it.
That body is the only thing left standing between the Constitution as it’s written, and “It means what we need it to mean for the moment” version that the donks want.
Pray that none of the conservative Justices leave the Court before 2013, and don’t be surprised if Hope-a-Dope and his masters Nancy & Harry don’t revive Franklin Roosevelt’s court-packing scheme before then.
Top Aide to Schmuck Schumer Indicted for Pension Fraud. It’s okay, he’s a Democrat.
Then that rep had damn well voted nay!
I never thought I would see the day when Congress could, no, would in such a blatant manner, use taxes as a weapon to target a specific group of people. But they did – none of us are safe if this is allowed to happen without recrimination.
I’m so glad McCarthyism and the like could never happen in this day and age of liberalism…
Then that rep had damn well better have voted nay!
Morons…
Sons-of-bitches!
That is seriosuly effed-up!!!
And where is the fearless leader while all this is going on? Why he’s in Hollywood preparing to be on a mindless late night show with Jay Leno. Then of course he will meet with a few members of his cult who will tell him what a great human being he is. This is sick; how in hell did his happen?
BASTARDS!!!!!!
Of course they know what they are doing. They know this will never become law, and they don’t want it to.
The American people hear the word “bonus” and go ballistic!! If they would take one minute to try and understand what these really are, perhaps they would calm down. Instead of rentention bonus, they should be called “contracted labor” or “salary for services rendered”. These morons in congress know darn well what these so-called bonuses are. That makes what they are doing even more reprehensible. Seriously, folks, these corruptocrats need to hear from the “chattering class” loud and clear about what we think of their treatment of the citizens of the country they are supposed to be working for! And the bill that passed to retro tax the contracted payments to these people is unlawful and unconstitutional. They are shredding our founding documents. Can we call it TREASON yet? What does it take to arrest someone for treason???
On another note – Everybody tune in! Odumbo is going to do another prime time talk with the nation. Yeah, he could of done it during the day, but he wouldn’t get the audience and he doesn’t want to do it on another night, say, Thursday because that would interfere with his watching the NCAA championship – ain’t we proud! It’s all about our country with this guy!
The American people seem to have a better handle on what’s happening here than you do.
So, while the criminals in DC are busy passing a bill that destroys our constitution, where is our esteemed POTUS? Well, Hollywood, of course, visiting his elite entertainer-buddies, then on to appear in a comedy show. Do we need any more proof that he is a complete buffoon, and just “playing president”?
This will get knocked down in the Supreme Court. Congress has done this as a feel good measure and as cover. Franks and Dodd hope that if they wave their arms around enough their constituents will not realize these guys are the problem. The rest of Congress are sheep.
This is hillarious!
Who’s behind Barack’s telepromter bog.
http://baracksteleprompter.blogspot.com/
I’d be afraid of getting something that is incurable…wouldn’t touch her with a 20ft sterilized pole wearing gloves…
Self correct: D’oh – “blog” not “bog” Well, it could be Obama’s bog…lol
Re my post #70 – We need to name the telepromter “Hal”
*The pendulum shall swing back, and this time it will be a doozy; P-BO and his minions are pushing too hard, too fast(like Barney Frank playing catch), so as long as we stay engaged towards 2010 and 2012, it should be quite the reversal.
This is why I automatically throw away all the junk mail I get from the RNC. They want money but for what?
I’d rather give money to organizations that actually represent my interests, like the NRA. (And I don’t even own a gun.)
The Democrats gave out these bonuses over strenuous Republican objections.
Link.
This is the scandal, people. The Democrats rammed this bonus approval through over GOP objections, and are now pretending not to know how it happened.
ALERT
This covers more than just AIG.
This places a 90% tax on almost every bank in the US.
http://money.cnn.com/news/specials/storysupplement/bankbailout/
Better get your money out of the market today.
A lot is wrong with them. But in this case they are doing the right things. And you lot are in the odd position of standing up for the Democrats.
I hope this spurs those states, (26 so far as listed here ), to move forward with their respective resolutions to slam the door on our federal government and cause more to join the wagon train.
Idiots.
This is rich, I’ll repeat what I said elsewhere… Congress commits an act of supreme legislative malpractice by passing a Bill no one had time read, much less digest or debate… Now they’re compounding that mistake by passing what amounts to an unconstitutional Bill of Attainder to cover their tracks. Lovely…
Damn the Constitution, full speed ahead!
How is this tax even Constitutional??
So let me get this straight… congress is going to tax the bonuses. So we won’t see the revenue from the tax until next year, and by then an army of tax lawyers and accountants will have found a way to get around the taxes. Genius! Congress at its finest. Why are politicians so dumb?
Just called my rep (the one I called earlier) and she voted against it.
Just read the bill…
It ADDS a further 90% tax on this bonus money.
As this money is still standard taxable income, and this bill does NOT make it exempt from standard income tax…
This money will be taxed at 90% AND your INCOME TAX RATE.
So…. add up state, local, Fed, Soc Sec, and 90% and this money will be taxed at about 150% tax rate.
Butt, of course, barney prefers tush to bush.
As for this targeted, illegal tax. this really is Kabuki, these people know this will never hold up in court, but they can tout this vote as “looking out for the American taxpayer”.
It’s all for show people.
This is how to destroy a corporation. who’s next? And its all a scam. They make the rules then pull the rug out from under you. Are you reading this GM? or any corporation that doesn’t play by their rules. There won’t be any companies left after this. We will become an agrarian society.. How much for that bag of spuds?
Very nice use of words, Jvette! I love clever puns.
And what is perception of the public?
Who is in charge of public relations for the Republicans? Will this become public knowledge or will it be swept under the rug?
Obama is angry yet he knew. Why can the public not get the truth here? We don’t yet have state run media like the USSR.
It will never hold up, nor do they want it to. However, the very act of passing something illegal, should have recriminations. This attitude that they can do anything that suits them regardless of it’s legality, is in itself, illegal I would think.
It has essentially been at least state directed since zero began his campaign.
I think I am going to be sick. We have retirement money in one of AIG’s subsidiaries. Watch the Dumbocrats bring AIG to the ground. I fear for our retirement. If this happens I personally will march to D.C. with a pitchfork.