Tuesday, March 17, 2009

"System Divine"

Last Sunday, members of Obama's incompetent economic team appeared on TV to wring their hands over the absurd AIG bonuses. Nothing can be done, it seems, "because of the sacredness of contracts." As I am not the first to observe, sacredness of contracts did not protect UAW workers from having their wages and benefits chipped away--contract or no contract.

What to we have lawyers for? One of the main tasks of those involved in civil cases is precisely to find ways to void contracts.

The original culprit in all this is, of course, the Democratic Congress. When they started flinging out these vast sums in the last few months of the Bush administration they should have insisted on putting in a clause forbidding such bonuses. Why didn't they? Well, one will never learn the answer from our investigative journalists. On several occasions now I have seen the shambolic Barney Frank (N. Furter) interviewed by fawning liberal TV hosts. They never asked the key question: why was he asleep at the switch. If they did ask, the Frank 'n' furter would mumble so much that no one could understand. And the pathetic Frank is our leading gay politician! Let's bring back the original Barney,

Under the present circumstances, an old leftie song from the 'thirties seems particularly appropriate:

God Bless Free Enterprise!
System Divine!
Stand beside her,
And guide her,
Just as long as the profits are mine.

Corporations, may they flourish,
Good old Wall Street, may it grow!
God Bless Free Enterprise!
The Status Quo!
God Bless Free Enterprise!
The Status Quo!

UPDATE (March 19). We now know who put in the language allowing the AIG bonuses. It was Senator Chris Dodd of Connecticutt. At first Dodd lied and said that he had not, but the following day he admitted it. Significantly, Dodd is the largest single recipient of campaign donations from AIG.

That still leaves the question of the role of the House of Representatives, in which Barney Frank so conspicuously served. Why was he not alert to this problem? Or did he receive campaign contributions from AIG too?



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