Americans For The Constitution - Login Here

  • The AIG Smoke Screen

    by Founder on June 16, 2009

    in Voice of the People

    The Obama administration is a master of manipulation and deception. One of the keys to being a great magician is what they call – “Misdirection”. This is the ability of the magician to make your eyes and thoughts go to a place THEY want them to go. Then while this “misdirection” is occurring the “magician” pulls his or her sleight of hand – in a sense “tricking” you. This is what our government and those in power are doing to We the People – right now.

    Concerning AIG, Obama and Barney Frank today came out in the news saying they were “outraged for the tax payers” – isn’t that nice. Yet isn’t that also bizarre? THEY are outraged for the taxpayers when AIG executives take $160 Million of the $160 BILLION – that that was given to them by Obama and the government!

    I agree that these bonuses are outrageous and ridiculous. Bonuses are for extra good performance – these “executives” obviously ran the company into the ground and deserve NO bonuses – in fact the company deserves to fail AND these criminals should be thrown in jail – but that is not where MY concern is right now – that is all just a smoke screen for what is really going on.

    AIG is a massive money laundering scam by the government. Of the $160 BILLION given to AIG – $44 Billion went to American banks and $55 BILLION went to FOREIGN BANKS! Send Barney Frank and Chris Dodd to jail IMMEDIATELY! The American people would have NEVER agreed to send these billions to foreign banks – but by saving AIG – these criminals were able to funnel this money to their foreign bank friends WITHOUT going through Congress and the American people.

    Obama and Frank say they are outraged at a sum of money that amounts to just one tenth of 1% of the total that the government gave to them! What happened to the other 99.9%? Why isn’t he “outraged for the tax payer” because of that? That is where the REAL outrage should be pointed right now!

    Do you, as a tax payer, know what AIG did with that other $159,000,840,000? Well let me briefly tell you. Follow this time line: (and prepared to be outraged)

    1. AIG is now 80% owned by the government (they say “you and me” – but that’s a crock – do you think you will ever reap any benefits from your “ownership” in AIG?
    2. These “bonuses” were contracted BEFORE AIG received any money from the government.
    3. In 1993 Congress limited the tax deductions companies could take for cash payments to $1 Million
    4. The result was a cottage industry of lawyers and accountants who made the employment contracts more complex with their various forms of “deferred compensation” – making these contracts very expensive and difficult to rescind.
    5. AND Chris Dodd and Barney Frank wrote into the AIG bailout tems that “all bonuses MUST be paid – if contracted prior to the bailouts”. Yet they are claiming to be outraged! I am outraged – throw these loser politicians in jail!

    watch adventures of sharkboy and lavagirl 3 d the in divx That’s the contract and bonus issue – you know, the one the media is obsessed with – that every station and newspaper is talking about. Now let’s take a look at the REAL problem:

    1. This leads to the “product” that AIG sold and that YOU and me are now paying for – “Credit Default Swaps” which were created by the government and and their misguided policies.
    2. These are simple in concept – the sellers (AIG) of these bundled securities (sub prime mortgages) promises to pay any losses to a bondholder in the event a bond issuer defaults. In return the buyer pays a premium to AIG.
    3. Credit Default Swaps were completely unregulated – therefore investors bought insurance on bonds they didn’t own AND they wrote credit insurance MANY TIMES over on the SAME bond! TOTAL GREED and CORRUPTION!
    4. Then when the housing market began to unwind – AIG had to begin making good on those Credit Default Swaps (sub prime loans) – THEY had to pay for all the mortgages people weren’t paying! And to make things worse they had to pay many times over on each default – because of their prior greed.
    5. That’s right, your money is going to pay for these Credit Default Swaps – your BILLIONS and BILLIONS – sucking out our financial strength now and of future generations.

    What led up to this massive scam? In December of 2000 President Clinton signed into law the Commodity Futures Modernization Act – which further eased restrictions on Credit Default Swaps paving the way for an explosion in these unregulated “securities”. In 2001 there were $632 Billion in outstanding CDS’s. By 2007 there was $62 TRILLION!

    Now as the government tries to unwind this mess at AIG most of your tax dollars are going towards paying off the companies, investment funds, municipalities and others who purchased these Credit Default Swaps. Your tax payer funds are going to pay off the bookies in this massive gambling scam – all set up by Congress. When this company should be allowed to fail, Obama and Frank just keep giving them more and more and more money.

    Is the media talking about this? Is there any outrage in the Obama administration over this information? No. The outrage on the news was put there by this administration to take the attention away from the real problems – of Congress, the President, Pelosi, Ried, Frank, Dodd, the Federal Reserve, government greed and corruption and of course, the tax cheat, Mr Invisible – Tim Geithner. This is all a smoke screen to get people’s minds OFF of the government and on to other “things” that the average tax payer can identify with. Barney Frank says the bonuses are like “rewarding incompetence” – yea Barney just like when you get your paycheck and your guaranteed raises!

    sinbad legend of the seven seas download

    The real outrage that should be and will be occurring is over the gradual Socialism of our great country. The real tax payer outrage is the arrogant financial irresponsibility that all governments have displayed – both local and national. The real outrage is the gradual increase in our taxes and the decrease in our freedoms. Don’t lose focus people- don’t let the master fool you with his misdirection – this country is heading down a very dangerous path – and it is only the people who can save it.

    Please sign in and be counted as an American for the Constitution and make your voice heard today.

    www.AmericansForTheConstitution.com

    the real folk blues download

    Leave a Comment

     

    Previous post:

    Next post: