The Fleecing of America

Pardon my borrowing this phrase from NBC, but recent events that have transpired (or almost transpired) most accurately fit the expression of the "Fleecing of America".

I know I will catch some flack from more liberal readers, but that’s not why I’m writing this column; the topics I will mention should make any red-blooded, tax-paying American irate.

First and foremost, let me discuss the indignity of the AIG bailout and subsequent performance bonuses. There is such great distaste in the amount of irony from this situation; contractual performance bonuses are being paid to top executives who failed at their jobs. This is contrary to everything that even corporate America has come to know. If your job is to secure the longevity of your company and you fail, normally you are terminated. However, with AIG, the top executives who epically failed in their job have not been terminated, but rather have collectively received $165 million in bonuses from the $182 billion we as tax payers (and our children and their children) provided to bailout their company.

And that’s the most astonishing part.

We, the American citizens, the members of non-corporate America, through our Congress and our President, decided that it was in our best interests to ensure that AIG did not fail. We bought our way into the company and currently, we are the 80% shareholders of the company. However, instead of the company trying to do what is in the best interests of the shareholders (us), they have instead opted to take the money we provided them to reward the incompetence of top executives who put AIG in such a position.

It is my opinion that; (1) the recipients of these bonuses should have been fired for their incompetence, (2) the company should have suspended the bonuses much like other companies that received bailout funds, or (3) all of the bonuses should be returned. Some of the recipients of these bonuses have elected to voluntarily return the bonuses, but not all of the bonuses have been returned. Congress has recently started talks of taxing (at 90%) the bonuses provided to the executives of the companies that receive bailout funds. At least this time Congress has decided to clean up their own mess.

The lack of integrity and intestinal fortitude demonstrated by the executives of AIG should make everyone angry. My next example should make people just as furious.

Recently, the Obama administration kicked around the idea of suspending the health insurance benefits of veterans that have their own private insurance coverage. This would even include those veterans that have sustained service-related injuries. This was proposed as a cost-savings measure for the nation. President Obama would have these veterans who have served so bravely to go without one of their most important benefits. Why should a veteran who sustains an injury serving our nation have to pay the costs (any in my opinion) of serving his or her country?

(To steal and manipulate a famous quote from John F. Kennedy) In the case where these soldiers (past, present, and future) have asked what they could do for their country, the least the country could do is ask what they can do for these men and women. Rather, President Obama has not asked what he can do for the people that serve(d) his country, he has instead asked where he can send the bill.

President Obama did back off from this proposal (thank goodness) but only because it was so unpopular with the people. The fact that he even proposed the idea is a slap in the face of the people who serve(d) their nation. Obama’s lack of sound policies is becoming more evident, daily. Obama’s lack of military experience has no doubt aided in this hair-brained idea of stripping veterans of their health benefits. What happened to the days when a President could not get elected unless he had served his country in the military?

So go pick your final four, President Obama. Go on the Tonite Show with Jay Leno. Enjoy your private concerts in the White House. Go on being the "rockstar" that people selected as their president. During the events of 9/11, President Bush opted (at least out of respect) to put his social life on hold. I highly suggest that you take the examples set forth by other leaders during the current crisis America is facing.