Comments on: Feeding at the Bottomless Trough

By: rosemarie jackowski

rosemarie jackowski — Tue, 17 Mar 2009 19:58:58 +0000

The U$A is now 3 for 3.
1. The voters really screwed up when they went to the ballot box.

2. Those who were elected screwed up when they authorized the bailouts.

3. Now the scam of the century is the crapodile tears being shed in Washington and the cries to undo what has been done. Here’s the solution to the AIG bailout scam. Redo the tax code so that the bonuses paid will be taxed at 100%. No Courts. No lawyers. No problem.

By: mary

mary — Tue, 17 Mar 2009 14:00:40 +0000

Thanks for that explanation David. Joe Bloggs (aka the US and UK taxpayer) doesn’t stand a chance against these crafty and hungry wolves and foxes.

By: davidgmills

davidgmills — Tue, 17 Mar 2009 12:55:38 +0000

Mary that is indeed the point. Had AIG actually been forced into receivership (insurance companies in the US can not file for or be put into an ordinary Chapter 11 bankruptcy) all of these contracts would have been subject to review by the receiver and most likely all would have been voided.

If these executives fail to accept the voiding of their contracts it may be what puts AIG into receivership.

Unfortunately, an insurance receivership is not exactly like a bankruptcy and is usually a state court proceeding rather than a federal proceeding. A state court proceeding has many drawbacks compared with a federal proceeding because it is really not designed to apply on a national level. One obvious drawback would be a state’s inclination to protect its citizens over the interests of the citizens of other states. Another drawback is that a state court’s jurisdiction stops at the state line, making the judge’s decision questionable in other states.

Only insurance companies get this break. Nobody else. Not even banks. Shows you the power of the insurance lobby.

By: mary

mary — Tue, 17 Mar 2009 12:21:50 +0000

The AIG bonuses that Obama is trying to stop are discussed on this Market Watch video.

http://online.wsj.com/video/can-obama-block-aig-bonuses/C16EE754-C96F-4947-9E77-611D665922C0.html

If these companies are virtually bankrupt, surely employment contracts are void.

By: mary

mary — Tue, 17 Mar 2009 11:56:03 +0000

Watch out – quantitative easing is coming to you soon. Another con trick.

http://www.ft.com/cms/s/0/33c81d9e-11ca-11de-87b1-0000779fd2ac.html

A charade is taking place in the House of Commons this morning where the ‘city Minister’, Lord Myners, unelected but appointed by Brown, is accounting for his actions in the recent Government nationalization of the Royal Bank of Scotland. The ex CEO Sir Fred Goodwin (another nuLabour appointment) has just gone off with a pension pot of £23 million and an annual pension of £700,000. To paraphrase Myners –
‘I knew nothing’!!

Someone said this morning that the word ‘bail out’ should accurately be called ‘ransom’.

By: john doraemi

john doraemi — Fri, 13 Mar 2009 20:12:27 +0000

Ten trillion dollars looted in a matter of months, the imminent collapse of the US economy, mandatory compulsory “national security” paramilitary “service” openly demanded… Is it worth 2 hours of your time to investigate these matters critically?

Jones vs. Obama

http://video.google.com/videoplay?docid=7718996325782443244&ei=Upe5SbScI6L-qAOJnOG1AQ&q=obama+deception&hl=en

Alex Jones’ new documentary is out, online for free. Jones tends to be hyperbolic and acerbic.

If, however, even ten percent of what he says is true, we are fucked.