The Prez was on Leno last night, and it didn't go well, unless you are a total Kool-Aid drinking Obamite.
Funny thing is, I was more taken with the whining and reality that he his in over his head to a frightening degree. Poor Geitner has his hands full. Really, no kidding? Get over it. You. are. the. President. On a late-night talk show. Embarassing.
Now, the meat of what he said was frightening. I am scared that the President thinks he knows how much people should get paid, which I thought was between me and my employer! To drum up this anti-capitalist, anti-compensation, class envy is appalling, and I have to wonder why. There are obvious answers, of course: he thinks capitalism is evil (unless it means over a million in his book sales) and he wants to demonize those that make a lot of money in the financial market so he can win the PR battle when his agenda includes taking them over in the name of "oversight" and "regulatory control." He and his ilk (Dodd, Reid, Pelosi, Frank) want to distract from the real criminals in all of this: CONGRESS.
That's right. Congress caused the banks to make the bad loans, so banks figured out a way to make money off the bad loans they were strong-armed into making. Fannie Mae and Freddie Mac crashed, taking a lot of financial institutions with them, so the gov't HAD to ACT NOW. Emergency decisions being what they are, no body knew what was in the bill, but they passed it anyway (including then-Sen. B.H. Obama) giving the Fed Chair SOLE AUTHORITY over the Tarp payouts, and his guy in NY that was in charge of the financial sector stuff (Tim Geitner, as it turns out) didn't do his job and make sure the $ wasn't wasted. Now, these exact people are crying foul and blaming AIG. Bastards.
Our whiner in chief, who inherited everything and is apparently responsible for nothing but rainbows and unicorns, had the audacity to say that the blaming needs to stop. Look in the mirror, dude.
The sad upshot is that real people that negotiated compensation packages with their company are now receiving threats, the NYC AG wants to know their names, Barney Frank wants them hauled in front of Congress, when they did NOTHING WRONG. Bastards.