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Prez sez: $1 tril for my buds, none 4 u! February 4, 2009

Posted by vsap in Blogroll, Financial Crisis, Uncategorized, US Politics.
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From The New York Times today:

“This is America, we don’t disparage wealth,” the president said. “We don’t begrudge anybody for achieving success. And we certainly believe that success should be rewarded.”

Treasury Secretary Timothy F. Geithner, appeared with the president to announce the restrictions (on executive pay for companies taking federal government “bail out” funds), which do not require Congressional approval. “The economic crisis was caused in part by a loss of confidence in our financial institutions, and it was made worse by a loss of faith in the quality of judgments made by some executives and some boards of directors,” Mr. Geithner said.

There is a general feeling among not-so-rich Americans, he said, that they are bearing a greater burden because of the financial crisis than those who helped to create it. Mr. Geithner said he would devote “every ounce of energy” to restore public trust in financial institutions — the bedrock of the country’s credit system.”

I am very quick to vilify the president and his knucklehead choices. I believe there is basis for that since he’s asking for “common sense” on executive pay, but demonstrates none when asking for about $1 trillion from you and me to (largely) pay off his political supporters. Then, there’s his toady Tim, uncle to the financial fiasco and a tax-evader, assuring us he will devote “every ounce of his being” to restore public trust. Sorry, Timmy, that train left the station with you on it and us standing scratching our heads.

While I agree unbridled compensation should not be expected by companies taking money from the American treasury, I also believe a president has a responsibility to do what is right with the public funds and not use them for unbridled paybacks to to his political supporters (or to pet Democrat agencies and advocacy groups).

Sure, he won the election and he can do certain things as he sees fit. I voted in the election so I can speak about them as I see fit. I will continue to hound President Obama like his friends in the drive by media hounded George Bush.

Finally, what’s with “we don’t disparage wealth. We don’t begrudge anybody for achieving success.” Holy crap! He’s forgetting he’s a socialist! Or, most likely, feeling the heat of the political wind, he needs to set it aside for the moment. He is a socialist. He has disparaged wealth. He has begrudged success. This blog alone, a mere flotsam on the ocean of commentary, documented this time and again during the campaign. No, “we” the American people do not disparage wealth and success. You, Barry Obama, have and will, if not in words then by policy. Prove me wrong.

I still don’t see that change all you Dixie Cups voted for.

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