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I listened to the congressional hearing on the "bonus" hassle at AIG most of the afternoon. I feel this mess is really the fault of the Congress. I make this statement based on the fact that the stimulus bill was rushed and passed without debate by the Congress. They just passed something about which they knew nothing. At the time a sense of "panic" was created to the effect that, if there wasn't quick action not only a "national" but a "worldwide" financial catastrophe could occur. I wondered at the time how the "tanking" of one insurance company could cause such a worldwide disaster. I feel that the continuing bailout of AIG with billions and billions of taxpayers money, by Congress, has a deeper reason than what appears on the surface or what is being revealed to the public. ...more
March 22, 2009
I'm the first to admit that I'm not the brightest bulb in the lamp but I do have a suggestion for the president and members of Congress regarding health care. If national health care isn't the answer, why not cut some of the costs by removing the health care given to the president, members of Congress and all government workers? Let them pay what the taxpayers are paying for health care and medication, and then perhaps they will begin to understand the needs of so many people in this country. ...more
March 22, 2009
Joan Atkins of Palm Harbor says Americans should be wary of "cradle-to-grave micromanagement" of health care by the federal government. ...more
March 21, 2009
I thought it humorous at first and then downright sad as I witnessed the foolishness and uselessness of our elected officials in dealing with the economic crises they have inflicted on our country. The latest is the AIG debacle, as they purport to attempt retrieval of $165 million in bonuses they knew about months ago that are protected under wording of the amendment they passed for the bailout. ...more
March 21, 2009
The Democratic-led House overwhelmingly approved a bill today to slap punishing taxes on big employee bonuses from AIG and other firms bailed out by taxpayers. The vote was 328-93. "We want our money back and we want our money back now for the taxpayers," said House Speaker Nancy Pelosi, D-Calif. ...more
March 19, 2009
The Internal Revenue Service issued guidelines Tuesday that will allow relief and refunds for some Bernard Madoff victims who were taxed for investment earnings that turned out to be nonexistent. ...more
March 17, 2009
Paying Twice
March 17, 2009
As they prepare to open a two-day meeting Tuesday, Federal Reserve policymakers are weighing whether to launch new programs or expand existing ones to spur lending, get Americans spending again and lift the country out of recession. ...more
March 16, 2009
Billionaire investor Warren Buffett had some sage advice for Washington the other day. ...more
March 15, 2009
Blair Blew It If Brian Blair ever wanted to continue on in the field of politics he has really blown his chances of it ever happening again. ...more
March 14, 2009
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