factbat.com

The most significant blunder prescribed by the U.S. Congress was the act of bailing out AIG in the first place, especially since there are many millions of small businesses and mid-level companies in this nation which all play by the same rules of the alleged free market economy it engenders.

These small businesses of Main Street should not now be essentially penalized for doing so, merely because they are not willing to absorb and destroy their subordinates, investors and employees in the way the big greedy corporate conglomerates like American International Group, Goldman Sachs and Fannie May and Freddie Mac have done, and likely intend on continuing since they are not being allowed to reap the negative outcomes of their duplicitous canards and illicit misfeasance’s.

These huge corporations that break the rules should have to face the music like any other business, by being forced into bankruptcy proceedings, or dismantling and reformation. This then allows a certain amount of hardship to bring their market shares and machinations into compliance, while still leaving room for equitable payouts to deserving “employees”. This also, then allows the rest of the business world to learn from other’s mistakes, without having to experience them.

If any of the many companies and small businesses in this nation do not take great care to properly employ equitable, legal, safe, fiduciary stable and ethical practices and policies, then they eventually find themselves in financial dire straits that can ultimately run them out of business. AIG and the likes should be no different.

Moreover, there is absolutely no reason whatsoever why American International Group, like any other businesses, should be spared from whatever lawsuits are filed against them for being prohibited from paying out bonuses to executives who ran the company into the ground

What is significant about this approach is that these lawsuits can do much to bring out all of the intangibles and secretive and criminal tactics which were obviously allowed to go on in AIG, and other companies they are affiliated with. Also, this will expose the many irreverent corporate leaders that promised the bonuses in the first place, when it is quite obvious that they were fully aware of the possibility that much of these financial advisors and traders were unscrupulous at best…abilities that are typically garnering these initial bonus offerings.

On a positive note: It appears that some of the leadership in the Obama Administration is beginning to broach the subject of accountability concerning these allegedly untouchable (or just unapproachable or morally unreachable) and decadent corporate bullies which have quite obviously attempted to pull off one of the most intemperately blatant and destructive frauds in the history of this nation.

While Barack Obama is taking the high road, vowing to block bonus payouts, and declaring AIG is in financial straits because of "recklessness and greed", Austan Goolsbee appears to be somewhat impotent in his approach. Rep. Barney Frank, chairman of the House Financial Services Committee, is taking a harder line by voicing the fact that AIG's move to pay out bonuses, amounts to "rewarding incompetence". Conversely, he is missing the point when he states that "these people may have a right to their bonuses, but they don't have a right to their jobs forever".

These bonus agreements clearly appear to have been made under indurable conditions that were lacking of moral integrity at best, and complicitly criminal, at worst. There is no way that the executives at AIG were unaware they were in financial trouble. For the taxpayers to now be bailing out the entire lot of them is unconscionable, to say the least.

However, to be clear. In an article on Yahoo! News, Obama made a formidable statement of leadership with his veritable indictment of the main players in this indelibly mendacic fiasco saddled on the taxpayers by congress and the Fed Reserve, when he said "all across the country, there are people who work hard and meet their responsibilities every day, without the benefit of government bailouts or multi-million dollar bonuses. And all they ask is that everyone, from Main Street to Wall Street to Washington, play by the same rules". Adding "this isn't just a matter of dollars and cents, it's about our fundamental values".