Okay, folks. For those who remain naive about the workings of government and corporate leaders to cooperate to rob the masses, here is the most recent (among many) news story about why individual AIG executive officers (whose company was recently bailed out with American taxpayer dollars) were given over $2 million apiece of the bail-out money (average) in bonuses recently.
Senator Dodd was confronted with so much evidence that he had purposely introduced specific legislation into the bail-out bill to allow this, that, despite his multiple denials (for a couple of days) of such a charge, he was forced (by some good reporters keeping track of things) to admit that he had, in fact, added that language to the bail-out bill.
For those of you younger people, inexperienced in the way of crooked politics and crooked corporate dealings, here is a crafted story of how the process basically works (and you should keep this in mind when you want to naively place your complete trust in some directors of your company, and not demand that they be accountable to their shareholders ON A TIMELY BASIS).
Three contractors are bidding to fix a broken fence at the White House. One is from Chicago , another is from Tennessee, and the third is from Minnesota. All three go with a White House official to examine the fence.
The Minnesota contractor takes out a tape
measure and does some measuring, then works some figures with a pencil. "Well," he says, "I figure the job will run about $900:
$400 for materials, $400 for my crew and $100 profit for me."
The Tennessee contractor also does some measuring and figuring,
then says, "I can do this job for $700: $300 for materials, $300 for my crew and $100 profit for me."
The Chicago contractor doesn't measure or figure, but leans over to the White House official and whispers, "$2,700."
The official, incredulous, says, "You didn't even measure like the other guys! How did you come up with such a high figure?"
The Chicago contractor whispers back, "$1000 for me, $1000 for you, and we hire the guy from Tennessee to fix the fence."
"Done!" replies the government official.
And that, my friends, is how the new stimulus plan will work.
