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.

Stem Cell argument: Take 1

I'm beginning to understand how this all works. Not stem cell research, rather, HOLLYWOOD. I understand the basic premises behind stem cell research and what some of the ultimate goals are with the new Obama initiative, but I'm really beginning to understand the entertainment industry, politics and their involvement in all things legislative. The Stem Cell research debate simply gave more saliva for angry dogs to spit but the issue, when presented by political pundits, sounds like all the rest.

It goes like this:

• There is an election where candidates appeal to certain masses with distinct differences concerning science, abortion, war and ways to spend money.
• Pundits take sides, stumping for certain candidates, with most acting objective but always clouded by bias
• One guy wins
• The winner then changes laws and enacts bills
• The stars of the entertainment industry, in all walks, come out with opinions and jokes to bump ratings.

And then they do it all again.

Morality surrounds the backbone of our society and nothing can be manipulated as easily as a good debate on grey areas of life. For every self-righteous soul, there are people opening their mouths looking for and easy buck, spotlight or another fifteen before they fade to oblivion.

From the esteemed halls of congress to a NBC/Fox/CNN studio set, the cast of characters all are in it for one thing: Popularity.

Bill Mauer vs. Ann Coulter: Let the debate for student president begin.

At the Citi Performing Arts Center’s Wang Theatre last night, two people with sharpened politically incorrect exploiting and opposite views within each dueled in a way that made the AP press quote them. Their publicists should get bonuses.

Coulter talked gracefully about Republican Queen Nancy Reagan’s support for stem cell research, "Nancy Reagan was so madly in love with Ronald Reagan, if you told her that we could bring Ronald Reagan back to life, cure Alzheimer's by disemboweling everyone in this audience, she would say 'do it.'"

Maher shot back with some witty lefty zingers. He decided to sling at current Homecoming King Rush Limbaugh by saying, “We all say crazy s--t when we're high. I think it's interesting that he is now the undisputed leader of the Republican Party. It shows how clueless they are. They went looking for the future and they found radio.”

I wish I could be as witty and filled with hard lined opinions as those folks.

Rush Limbaugh is the real genius, though. Nothing like a Democrat as President to revive his career but in fairness, he did pull out the ultimate weapon in the political entertainment industry; anti-American sentiments. Of course the “Anti-American” claims can be argued until your face turns red and blue so bear with me. When Rush said he wanted Barack Obama to fail he became the focus of the Obama administration for a couple of days, thus making him the greatest news maker this week has ever seen.

Oh the excitement…

Recovery Plan meets Political Web

President Obama's campaign of "hope" has quickly turned to the presidency of finding ways to get things done. After getting the roughly $800 billion stimulus bill passed, the Obama administration appeared successful on both counts, on paper.

Looking a little closer and you see Obama's victory came despite very little support from Republicans. In fact, only 3 republicans in the House voted for the bill (he needed two to get bill passed), despite some tax cuts he threw in to appease his rivals.

Furthermore, perhaps the sexiest candidate for the Republican party for president in 2012 has discussed rejecting federal funding. No, not Governor Palin of Alaska, who is technically the 'sexiest' but rather Lousiana Governor Bobby Jindal, who has an excellent way of communicating with voters. But he is not going to reject all funding, rather, just part of the millions that will go towards welfare and those people who have lost their homes due to the economic crisis.

This has Democratic patsies in an uproar, claiming that yet again Republicans are insensitive to the poor in Louisiana. This accusation has fallen of deaf ears for me personally because I've heard the "Republicans don't like poor people" argument before and realize it can't be personal, rather, it stems from fundemental disagreements.

Still, the hardline stance of defiance by Jindal has to be seen as political gamery. A good boy or girl would go along with the people, who have elected Obama and the other officials who approved the bill. But in this case, Jindal and a few of his cohorts seem to want as much attention as possible.

The strategy may pay off.

Remember the Iraq war? You know, that war that is still going on. Well, back in 2003 when Obama was still in diapers, he was one of the few that took a viament stand against the war, calling it a "dumb war." That stance alone helped him win the Democratic election, while Hillary Clinton was left holding the Bill's she helped Bush 43 pass.

So in fairness, maybe Jindal truly thinks this is a dumb Bill. Or maybe he thinks certain parts are wastefull. Regardless, it's an opportunity to represent the 'other side' despite what many economic strategists have said; a stimulus bill is needed.

Compare Jindal, who must be Rush Limbaughs BFF right now to Governor Crist of Florida and you can see why Jindal is doing what he's doing. Crist supports the Bill to a large degree and has now been called "D Light" (as in Democrat Light) by Bush 41, who at 84, still has opinions. Already you can see the Republican debates taking form for 2012, as both Jindal and Crist are likely to be in the running.

Whether Jindal allows people in his state to receive the funding, or if it will go to other states instead, the cards have been dealt and now we are waiting on the dealer to help reveal all of our fates.