Hayek's Tool Bag of the Week: Al Gore

It is with great pleasure to announce that Al Gore, 45th Vice President of the United States, as the winner of my Tool Bag of the Week award.

Mr. Gore paid Washington and Congress a visit this week in order to testify before the House Energy and Commerce committee concerning the "Cap and Trade", also known as The American Clean Energy and Security Act of 2009. The former Vice President completely supports this bill and called it "one of the most important pieces of legislation ever introduced in the Congress...I believe this legislation has the moral significance equivalent to that of the civil rights legislation of the 1960's and the Marshall Plan of the late 1940's"[1]. Here are some other highlights from this testimony. Here's the transcript.

• "We cannot afford to wait any longer for this transition. Each day that we continue with the status quo sees more of our fellow Americans struggling to provide for their families."

• "Passage of this legislation will restore America's leadership of the world and begin, at long last, to solve the climate crisis. It is truly a moral imperative."

• "The United States is the world's leader. We are the only nation in the world that can. Once we find the moral courage to take on this issue, the rest of the world will come along. Now is the time to act before the world gathers in Copenhagen this December to solve the crisis. Not next year, this year."

I must admit that I personally believe that Mr. Gore is one of the smartest people on this planet and I truly mean that. The man is making a wonderful living ringing the bell of alarm concerning "Climate Change". My problem with Al is that he's going about this situation in a classic Tool bag kind of way. Let me example further.

First, the man paints those that disagree with him as "deniers". Of course the word deniers conjures up thoughts about Holocaust deniers. He also managed to tie the Civil Rights Legislation with this bill. I wonder why. Mr. Gore says that there is no debate or discussion concerning the causes of "Climate Change" when he proclaimed that "the debate is over". It's a perfect storm really. If you are on the other side you are equal to an anti-semitic, racist, who believes that the earth is flat, and that you probably molest your children (Ok, that last part wasn't Al Gore but just another lover of the planet).

Second, Mr. Gore is constantly saying that oil companies are funding researchers, researchers that dare to question the other side in any form, in order to confuse the public about man induced climate change (or warming, or what it's called this week). However, "man is killing the planet" side of the argument are funded by environmental lobbyists or are representing Clean/Green energy companies that stand to make a pretty penny if legislation like this pass.

How is that different from the oil companies?

I'm sorry, I lost my head there for a second. Mr Gore and his environmental comrades are just heroic figures trying to save lives. They just happen to be making a lot of money in the process. Oil companies are raping the earth and should be shot.

I hear you, Big Al. I feel like I am having a Bill Murray moment right now.

Anyway, you're still a giant Tool Bag, Al; albeit a very wealthy one.

By the way, check out the exchange between Prince Al and congresswoman Blackburn (R) from Tennessee. Albert is in classic form, smug look and sighs included.

Lawmakers Trying to Take Action Against AIG Bonuses

Since word of the $165 million in AIG bonuses (paid out with federal bailout funds) first broke last week, Congress & the Obama Administration have been exploring what can be done to remedy the situation. On Monday, President Obama pledged to, “pursue every legal avenue to block these bonuses and make the American taxpayers whole.” The first step in the process is to summon those responsible to a battery of congressional hearings.

80 percent of AIG is now owned by the federal government thanks to the government bailout. At a House Financial Services subcommittee hearing on Wednesday, Chairman Barney Frank (D) [picture on the left] said, “We should be exercising our rights as owners of this company, we ought to bring lawsuits to say: These people performed so badly, the magnitude of the losses are so great, that we are justified in rescinding the bonuses."

Despite the president's pledge to "pursue every legal avenue", democrats in Washington want a more immediate solution. Most are in favor of passing some kind of legislation quickly to let the voters know that they are aware of the situation and action is being taken. The Senate Finance Committee is proposing new legislation to “discourage excessive compensation by companies that have taken taxpayer funds.” In the House, Reps. Steve Israel (D) and Tim Ryan (D) are proposing the creation of a 100 percent “bailout bonus tax bracket” to recover all taxpayer dollars paid out in bonuses.

Republicans in Congress are citing the AIG scandal as further evidence that the bailout strategy was not the proper response to the economic crisis.