Quotes of the day

posted at 10:35 pm on March 16, 2009 by Allahpundit

“I suggest, you know, obviously maybe they ought to be removed, but I would suggest that the first thing that would made me feel a little bit better towards them if they would follow the Japanese example and come before the American people and take that deep bow and say I’m sorry and then either do one of things: resign or go commit suicide.”

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Shouldn’t this apply to Barney Frank, Chris Dodd, Bella Pelosi, and Harry Reid as well?

Ricki on March 17, 2009 at 7:58 AM

Shouldn’t this apply to Barney Frank, Chris Dodd, Bella Pelosi, and Harry Reid as well?

Ricki on March 17, 2009 at 7:58 AM

Amen. But who’s going to even so much as suggest that these criminals be investigated in a Barry administration?

redfoxbluestate on March 17, 2009 at 8:02 AM

This is ridiculous. The bailout of AIG already happened and there is nothing we can do to go back and chage what happened.

Outrage is useless unless it helps to keep us on track to not give any more bailouts.

I will not buy into the outrage from either party, as they both participated in it and if they didn’t know what they were doing, they should have not done anything.

myrenovations on March 17, 2009 at 8:06 AM

Nice to see this concern over “millions” going for bonuses. In the mean time, billions (trillions) are transerred to Goldman Sachs or overseas and we are distracted with the small change. Stupidity in the extreme.

CC

CapedConservative on March 17, 2009 at 8:07 AM

Washington Post reporting mobs forming at AIG offices.
ACORN anyone???
This is just wonderful!! Well, let this be a warning to any other corporations who think they can take government money!!
Basically,, our government made these banks take the money,, then they changed the contracts after they took it! And now they are being used as scape goats to further socialism!! This is insane! Just insane!! The real thieves are in Washington!! They are the ones who need mobs outside their offices!!
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/16/AR2009031602961.html

JellyToast on March 17, 2009 at 8:09 AM

I just don’t get it. We knew that in most cases in the stimulus package that it would be good money being thrown after bad money. I’m not saying that is this is the case with the bonuses. I think it will do more good for at least some local economies that what a lot of other things congress has done. Yet, congress and the president pass the omnibus bill with all that pork and you don’t hear about that much in the general press and out in the diners in America. HillbillJim is right when he says it’s class warfare. The dems are setting us up for it and most Americans are falling for it hook, line, and sinker. We’ve got to start opposing such warfare. Do you think the dems are really that upset about the bonuses? Do you think it’s possible that there is money going under the table with all this? Heck, it’s probably not even going under the table there is probably going to be all kinds of payback to the democrat pary for the next elections. Remeber, when a democrats lips are moving he is lying.

boomer on March 17, 2009 at 8:10 AM

It’s way past time for Grassley, Snowe, Spectre, and the rest of the RINO’s – to follow the this sage advise. DO THE HONORABLE THING!

Sporty1946 on March 17, 2009 at 8:13 AM

Everybody is falling in the Obangos trap! This is miss direction at it’s best! They are doing this to keep the scrutiny off the criminals that run the government.

WAKE UP EVERYONE!!!!

grapeknutz on March 17, 2009 at 8:13 AM

The real story here is that Obama put off the banking fix because he knew he would never get his other spending projects off the ground. So, instead of doing what was right for the country, he did what was right for him. And the rest of us will suffer because of it…

RedSoxNation on March 17, 2009 at 8:18 AM

but I’m sure in your ethical business judgement, there was no controlling legal authority, so it it had to be all right

Old Country Boy on March 17, 2009 at 2:46 AM

I appreciate you trying to help me get my mind right on this problem, but you didn’t respond to my question. If SemGroup had the oil in their tanks, how did they go broke selling it, when the price of oil went to $140(USD) per barrel?

Since you seem fixated on those evil speculators on Wall Street (actually its in Chicago at the Board of Trade, but close enough)I’m quite sure you agree that the only way you can be caught in a ‘short squeeze’ is if you are one of those evil speculators. It’s just that you are on the wrong side of the trade.

Thanks again for your help. You’ve been wonderful. Have a nice day.

Skandia Recluse on March 17, 2009 at 8:23 AM

yeah, should check my research before posting.

Oil futures trade on cme, not cbot. (happy nits to you, until we meet again.)

Skandia Recluse on March 17, 2009 at 8:39 AM

This would require they had some shred of Honor, none of them could tell you what the definition was if you read it to them.

Viper1 on March 17, 2009 at 8:43 AM

I’m 100% in agreement with those who think it’s time we demand accountability from our politicians; complete accountability… Apologize, resign, or go to jail. Chris Dodd, Barney Frank, William Jefferson, the Reverend Jackson, big Al Sharpton would be a good start. The fact that these people get to shovel their shit down our throats at will, while laughing their way to the bank, is a crime!

Keemo on March 17, 2009 at 8:46 AM

Can we have a do over? Here we go:

Barney Frank: extend risky loans and suck up the defaults, or else!

Finance Exec: drop dead.

Barney Frank: then you’re out of business, bucko.

Finance Exec: come and get me sucker, yer gonna have to shut us down, and that’s gonna be on your ass, not mine.

Point is, cut the weeping and wailing as if this were something fresh and new; but the time for Atlas to shrug was 10-20 years ago.

Once the captains of industry dropped trousers for Barney, what they were engaged in something that was no longer free market capitalism. Don’t you guys understand that?

We’re just noticing it now. The sodomy to our system was consensual. To hell with all of them.

jeff_from_mpls on March 17, 2009 at 8:57 AM

Skandia Recluse. You are right on your facts. I guess I wasn’t clear on what I meant to argue. Sem group did have oil, just (obviously an important just) but not enough. (I wonder how much oil the specualator in Chicago had?) And yes, I agree Chicago. You’re right there also. I knew that, I just forgot in the heat of the arguement.

What I meant to be arguing was not that some hisck company in fly-over country was snookered by some big city traders, but was the cost to The United States and the Worly of the snookering. I also concede that your arguement that whatever the big city boys did was ethically OK because there were no controlling rules or people that would/could/did enforct them if there were. I’m sorry if we got side tracked. I apologize.

Here are the results of these astute traders making of some loose change off these flyover rubes:

1. Oil company execs were called before congress and blamed for the rise in the price of oil. A congressperson threatened to nationalize their companies. Though they didn’t do the speculation.

2. Two airlines went bankrupt.

3. All the airlines cut back on everything and charged for everything else.

4. A tinpot dictator in Venezuela got a pot of money and tried to destabilize the north coast of South America. He was elected president for life. There may soon be Russion bombers stationed there.

5. A tinpot despot in Russia, flush with overpriced petro-dollars, invaded another country, cut off gas supplies to Europe and bid the US out of our supply lines to Afganistan.

6. The policians were blamed for the rise in oil price because of drilling restrictions, which were assumed to blamed on congress, not a bunch of big city speculatore IN CHICAGO. Congress deserves much blame for many things, but not for this. The speculators tricked us into chasing a phantom.

7. Businesses went under, people lost their jobs and homes; the financial stress probably had a contribution to our current mess.

8. and so on and so on and so on.

What I was trying to say sir, not very well bye the way, was that actions have consequences. These speculator dudes almost caused world war III to make a killing in the commodities market, and probably contributed to our current financial near-collapse. All for a few bucks. But that is OK. All’s fair in business and love. We got rules for war.

Old Country Boy on March 17, 2009 at 9:45 AM

It’s easy enough to give bailout money with the stipulation that none of this amount shall be applied toward bonuses. But, let’s face it, the bonus “outrage” is only a diversion from the real outrage of bailing out these pigs with hundreds of billions of taxpayer money in the first place.

AIG executives should be following Bernie Madorff, doing the handcuff-two step,into the Leavenworth Hilton, instead of receiving bonuses.

MaiDee on March 17, 2009 at 9:45 AM

One last thing – the purpose of my link was not to exonorate malfeasance of sem group. It was to provide evidence that the companies and politicians we have been blaming, even up until today, and with the MSM probably into next year, are in fact innocent. The guilty parties are still trading and specualting without control and penalty. The same thing could keep happening.

Old Country Boy on March 17, 2009 at 9:50 AM

Yes, these are possible solutions to the problem facing U.S. today. But, remember solutions are responses to problems. So logically, no problem no need to spend time concocting solutions.

Therefore, we should really examine whether AIG, or the other companies were problems worthy of government intervention. These companies problems were the result of (pay to play politics) which was not part of the company’s actual business plan. The solution, stop playing politics with other peoples money and maintain their focus on providing the service/product promised to the customer.

If you fail you fail and you need to admit failure and learn from your mistake.

The governments solution to this problem is to stop trying to act like they know anything about business, and get back to the basics of Government 101.

MSGTAS on March 17, 2009 at 10:40 AM

If these companies are offering bonuses that are not tied to company/individual performance shouldn’t they in fact be listed as salary? Also those that think it is ok for these companies to spend money they obviously do not have or were given to help their company survive is part of the problem in my mind. These companies need to operate under the same rules as every other company in Capitalist America; Work, Save, Invest, Invent then if profitable Reward.

SGinNC on March 17, 2009 at 10:41 AM

In the time I lived in Iowa there were a lot of things I disagreed with Chuck Grassley about, but this is why I love him. He’s a career senator with no serious leadership ambitions and no presidential ambitions, and so he’s one of the only senators who I trust to be honest, he’s a legitimate Iowan. It’s unfortunate that neither party in Iowa has many of those left anymore.

galenrox on March 17, 2009 at 10:56 AM

Remember, everyone. RUSH LIMBAUGH is the one making ugly and incendiary remarks.
/sarc

Y-not on March 17, 2009 at 11:48 AM

this is such a joke. instead of blaming sucktastic AIG, how about the whole of congress blame themselves for this craptastic situation. how about going through AIG’s obligations before handing them over billions in bail out money and putting restrictions on the money before handing it over, rather than feigning this ridiculous pseudo-outrage at this point?

anna on March 17, 2009 at 12:53 PM

Any bets on how long it will take Frum, Steele, Newt, and our other self-appointed GOP language police to denounce Grassley’s comments? I’m thinkin’ they never get around to it… there’s no PR gain in denouncing a nobody.

Hope and change.
Eat the rich.

Y-not on March 17, 2009 at 1:13 PM

anna on March 17, 2009 at 12:53 PM

Because there are obligations they can bring as a part of having an 80% stake in AIG.

sethstorm on March 17, 2009 at 1:38 PM

Any bets on how long it will take Frum, Steele, Newt, and our other self-appointed GOP language police to denounce Grassley’s comments?

Y-not on March 17, 2009 at 1:13 PM

I certainly wish someone would. Have we all lost our perspective? The people getting the bonuses are not responsible for the contract that gives them the bonus – they earned it, they get it. The execs who allowed the contract are not responsible – that is simply how the industry operates.

But to suggest that these people should commit suicide is representative of a complete loss of perspective and a total dedication to self-preservation on the part of Sen. Grassley. The outrageousness of this statement – that ending one’s life is suitable atonement for losing money – is what should be the issue here. I thought HA readers would recognize this. Suicide is a horrific trauma to those touched by it – only someone who has no regard or value for life, someone who only values fame, wealth and power, would ever suggest such a thing. I hope (and pray) that no one who is contemplating suicide as the easy out of this economic crisis hears this.

gopmom on March 17, 2009 at 2:53 PM

Those that jump on the band wagon and accuse Sen. Grassley of seriously wanting AIG executives to commit Hari Kari should take deep breaths and chill out. Obviously he was mad but talking through his hat. I would have used the same language, because I am just as upset as every other bilked tax payer.

But on that note there are big differences between our and Asian countries when top business leaders get caught ripping off customers. I mean look at the Milk scandal in China, what happened when that came out? Well the CEO killed himself. Here you have a con-man running a 150 Billion dollar Ponzi scheme, and he instead tries to hide ill gotten funds with his relatives. Big difference.

SGinNC on March 17, 2009 at 3:58 PM

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