President Obama sure has no qualms being a trailblazer as he is set to make history once again by appearing on The Tonight Show With Jay Leno this Thursday. According to NBC, he will be the first sitting President to appear on this type of show.
Nice to see him keeping the transparency with the public during these difficult times. Hopefully he’ll keep the pressure on supposedly beleaguered behemoth AIG, which is set to hand out $165 million in bonuses after receiving $170
million billion in government bailout money. Obama had this to say:
“How do they justify this outrage to the taxpayers who are keeping the company afloat?” the president said yesterday at the White House. “This isn’t just a matter of dollars and cents,” he added. “It’s about our fundamental values.”
I can’t for the life of me figure out how anyone could be up for a bonus when the company took a $61.7 billion fourth quarter loss. Was their objective to tank the company, because if so then the bonuses would be in order. The bailout money won’t be going directly for bonuses, as $90 billion went to covering various banking transactions, including Goldman Sachs. But that’s really just semantics, as no one should be getting anything over their salary.
At this point, I’m like Fack it, just let these institutions survive or crash on their own merits. They’ve proven to be prone to not make the logical (or ethical) decisions. But if we are going to continue to prop these companies up, can’t we at least get a change in leadership.
Previously Posted — The Devil’s In The Details