Saturday, March 21, 2009

Congressional Follies

The AIG hearings have once again demonstrated the total intellectual poverty of our elected representatives. Once again, they get some face time to move the spotlight from their own ineptitude. They rant about millions in order to get their billions in earmarks under the radar. The same happened with the Auto execs private airplane rants while Congress (Pelosi et al) take private jets on fact finding junkets to Italy.
Meanwhile, Senator Dodd puts special bonus enabling legislation in the TARP bill as a favor to a Secretary of the Treasury who can’t pay his taxes. Everyone denies everything for a while until they have to admit it. So, Congress “solves” the problem by passing a retro-active (unconstitutional) law. Then they pass a bonus limit that insures that the most able CEOs will not want to work where they are most needed. The best turnaround specialist CEO in the world can make more money elsewhere. Brilliant!

No comments:

Post a Comment