Lemkin

Ladies and gentlemen, the nearly Vice President of these United States:

Of the $288 million that Palin doesn’t want, $170 million would go to education, including money that “would go for programs to help economically disadvantaged and special needs students.” Other programs affected include “weatherization, energy efficiency grants, immunizations, air quality grants, emergency food assistance, homeless grants, senior meals, child care development grants, nutrition programs, homeless grants, arts, unemployment services, air quality, and justice assistance grants.”

Based off the warm reception the recent AIG retention bonuses have received, I forsee no problem at all for Fannie and Freddie’s upcoming round of same.

Here’s what it’s going to take. First, enact the previous post. Up it to 200%, just to be sure, and include any corporation receiving bailout or TARP monies. Funny how the UAW had to reopen their contracts lest the world surely end, but the millionaires: not so much.

Second, an example needs to be made. Ceterum censeo AIG esse delendam. Starting immediately, AIG shall be taken into bankruptcy. The still very valuable and profitable insurance branch: sold off…on the condition that all its related executives must not be retained beyond six months. Their jobs are over. The dread CDS unit: what’s sellable is sold. As to the rest of it, the various counterparties will be approached, and workarounds “negotiated.” I’m pretty sure their attidues will soften once the default swap is going to yield a) something -or- b) zero (with the attendant and required revelation on the old balance sheet). What’s not unwindable or proves unsellable is held by a resolution trust-style operation and eventually sold. Everyone, and I mean everyone currently employed by AIG that makes above $100,000/yr: goes on the fucking breadline. You can safely fire everyone not in the insurance unit starting tomorrow. And you furthermore ensure that they are not legally employable by any company or proxy of said company that is receiving or received bailout or TARP funds.

Then we wait and see which CEO wants to start off the next round of bonuses for all the hard work and genius. Things have changed. Dramatically. These fucktards just refuse to accept it.

And, media, can we quit with all the “Masters of the Universe” crap? It was foolish and obviously quite sad when times were good. Now it’s just pathetic.

Resolved: There shall be a 100% tax on all bonuses, remunerations, inducements, extras, fees, and any other income not classified as “regular” (tax code here) on all employees of AIG for fiscal years through and including 2010.
Resolved: Regular incomes in excess of $50,233.00 shall be taxed at 50% in each of those years for any employee of any institution receiving TARP funds. This shall include all meals, airline flights, club memberships, cars or car services, homes, and any other indirect income received as part of an overall “compensation package” by any individual so employed.

The fucking end. Are you listening, Congress?

Are we really meant to believe that retention bonuses for the very same fucking idiots that crushed the global markets are absolutely required to keep these same “best and brightest” around long enough to fix what they hath wrought? Unbelievable.