Skip to main content

A long time mantra of wingnuts has been to rail against entitlement programs, 'welfare queens' and the entitlement mentality. The unspoken corollary is that the only people who fit into those categories are the "undeserving losers" Santelli railed against in his scripted Chicago rant.

I fear that we are at a defining moment for the new Administration. Geithner is already seen as weak and inept, and if the Administration is seen as backing down out of fear of 'lawsuits' from the prototype example of business buccaneers, the effect upon other key parts of the Change agenda could be devastating.

Hee's baack- Rick Santelli, tells us all to get a grip over AIG - I am going to propose two ideas to get a grip on our money.

Here is what this genius had to say on Squawk Box this morning :

SANTELLI: Now, think about it this way. Maybe I'm missing something. But the outrage seems to be about M's, millions of dollars, right? $165 million, OK?

But I would think that it should be looked at as a pretty big positive, because when you go from the M, maybe you should try to go to the B's, which is the billions of dollars, and maybe that's going to even enlighten it for the T, trillions of dollars. You know, $165 million is like worrying about 16.5 cents, while $165 maybe necessitates a little more outrage. What do you guys think?

BECKY QUICK: Hey, Rick, I think the real idea here is just the idea of rewarding bad behavior, which is something you've spoken out against in the past.

SANTELLI: No, I guess what I'm saying is it's an order of magnitude. Don't you think this dynamic that the average guy reading his newspaper is really starting to be in tune with this?

And I think bonuses really strike a cord as to the dynamic you're talking about. But there's many degrees of intensity if one really wants to shine the light on the money that's being scrutinized. You know, there's Ms, Bs and Ts. I just want to know what people think.

Rick, we think you are an Asshole Apologist with a capitol A, and that goes for most of your network.

You folks just don't get it. What is at risk here is the social contract that keeps the nation together - the government governs with consent of the governed; which should not include abuse by elites ( I have a J.D. and a Ph.D in economics, saw this coming in 05, acted accordingly, so should I get a bail out - Byte me) - you assholes don't realize that all your shit, not just the stuff in Thain's $ 3500 commode does stink.

Get a grip - you bet.

This act simply cannot be allowed to stand. I am sick and tired of the ‘too big to fail;’ mantra, and the garbage being spewed by AIG defenders today that we need the geniuses ( ha- weasels!) who created these things to help unwind them- and we don;t need Geithner either, he KNEW this was coming....see this WaPo link:

Help ???  They need to be legally compelled, and the payment of bonus/ransom needs to be stopped.  The only question is how to stop it.

First, I recall from prosecting corporate corruption that a provision in the tax code allows challenges of unreasonable compensation- any other legal beagles please expound.

Another idea floated is to first have the US trustees in charge of the firm to make no payments of any bonuses, and to issue stop payment orders on any checks that have already flown the coop.

Step two : split off the Financial Service derivatives unit from the rest of the firm and separately incorporate it. This step leaves AIG's other businesses, which are sound,  free to operate as usual. If the recipients of the bonuses refuse to waive them, then the derivatives unit should at once be thrown into bankruptcy, terminating all obligations to pay them, both in the U.S. and Britain.

If these theives want to sue, so we can find out who is getting what and subject them to civil discovery- as my favorite Nike T- shirt says BRING IT !

It is time to shine light on these cockroaches, and as for 'we can't tell you who got the TARP funds, or who the counterparties are because it would erode confidence, just how stupid do you think we are ???

I have previously written that at its core, this entire episode has started to unravel the social contract between the ‘let them eat cake attitide of the ruling elites’ and the American people - Lewis Black gets it why can't the Administration ???  

It is time to take a stand and not just against AIG - why is it that Gold-mone Sachs turns up everywhere whether spewing self serving 'analysis' that speculating gas up to $ 4 /gallon; or being on the inside of government decision, and profiting handsomely from same. Enough already.

Originally posted to ExElephant on Tue Mar 17, 2009 at 09:16 AM PDT.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site