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Originally posted by sliceNodice
reply to post by Noccy
I am all for revision of government parties. That is, if you count revision as completely wiping them out! Why do we even need parties? The only thing parties ever seem to accomplish is attracting the lazy minded, and dividing the people. Whatever happened to voting for the best candidate?
Originally posted by Noccy
reply to post by XD9611
Yes I will blame Bush forever for this particular economic situation, I mean lets face facts the Bush administration has to take some portion of the blame. I believe the economy was heading for a recession anyway but I do not think it would have ended up this bad had it not been for some very poor decisions by the Bush administration.
You want to call someone out on lies, lets talk about WMD's? Of course no staunch republican ever wants to touch that one with a 10 foot pole. Point being had the policies been stricter with regards to the banks and the subprime market we wouldn't even be worrying about the AIG bonuses. Why? Because AIG would not have needed a bailout.
Obama, Congress knew about AIG bonuses for months
Senate quietly stripped measure restricting bonuses from bailout legislation
A new revelation in the scandal surrounding AIG's decision to pay multi-million dollar bonuses to executives -- a provision that would have restricted companies receiving federal government bailout aid from paying bonuses was quietly stripped from a bill last month.
The entire claim and chain of events rests on the fact that market participants, up to and including Ben Bernanke at The Federal Reserve, were and are aware that these CDS contracts are in fact fraudulent in that there is no way performance can take place, yet everyone up and down the line is allowing these "assets" to be counted as "money good" on the books of banks and other financial institutions!
As word spread Friday about the new and retroactive limit -- inserted by Democratic Sen. Christopher Dodd of Connecticut -- so did consternation on Wall Street and in the Obama administration, which opposed it.
Can that be any clearer? It was Obama officials, not Dodd, who demanded that already-vested bonus payments be exempted. And it was Dodd, not Obama officials, who wanted the prohibition applied to all compensation agreements, past and future.