Senator Advocates Suicide for AIG Bigs
You couldn’t make this stuff up —
IOWA CITY, Iowa (AP) – Iowa Sen. Charles Grassley suggested that AIG
executives should take a Japanese approach toward accepting
responsibility for the collapse of the insurance giant by resigning or
The Republican lawmaker’s harsh comments came during an interview with
Cedar Rapids, Iowa, radio station WMT on Monday. They echo remarks he
has made in the past about corporate executives and public apologies,
but went further in suggesting suicide.
"I suggest, you know, obviously, maybe they ought to be removed,"
Grassley said. "But I would suggest the first thing that would make me
feel a little bit better toward them if they’d follow the Japanese
example and come before the American people and take that deep bow and
say, I’m sorry, and then either do one of two things: resign or go
"And in the case of the Japanese, they usually commit suicide before they make any apology."
all well and good, but perhaps the Senator’s recommendation deserves
broader application. I’m referring to the Congressional nonfeasance
which enabled the whole debt-fueled Bubble II debacle, as Senators
twiddled their thumbs or powdered their patrician noses so as not to
create unpleasant highlights on viewers’ TV screens.
I am pretty
sure that the elevation of the higher catwalks in the Capitol dome,
coupled with the hard, cold marble floor below, would ensure efficient
extinction for any Senators who care to take the plunge.
Wouldn’t you just love to be in the crowd of tourists, as one of these august personages climbs shakily over the rail? The shoults of the crowd would be deafening —
JUMP! JUMP! JUMP!
… to put out the fire he himself started —
Senator Chris Dodd (D-Conn.) on Monday night floated the idea of taxing American International Group (AIG) bonus recipients
so the government could recoup some or all of the $450 million the company is paying to employees in its financial products
unit. Within hours, the idea spread to both houses of Congress, with lawmakers proposing an AIG bonus tax.
represents somewhat of an about-face for the Senator. While the Senate was constructing the $787 billion stimulus last
month, Dodd added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually
obligated bonuses agreed on before Feb. 11, 2009” — which exempts the very AIG bonuses Dodd and others are now seeking to
tax. The amendment made it into the final version of the bill, and is law.
Separately, Sen. Dodd was AIG’s largest
single recipient of campaign donations
during the 2008 election cycle with $103,100, according to
opensecrets.org. Dodd’s office did not immediately return a request for
comment. One of AIG Financial Products’ largest offices is based in
Only one problem with Fireman Dodd’s legislative effort to beat his
pending arson rap — it is patently unconstitutional to pass a public
law aimed at a particular company or taxpayer. This is called a ‘bill
of attainder.’ Not that our dead-letter constitution, scribbled on a
crappy old piece of ancient parchment, is gonna stop these evil clowns.
I mean, they already looted trillions. And a healthy chunk of them AIG
bonuses is probably already deposited in Fireman Dodd’s re-election
Get your Smokey on — only you can prevent bonfires of the vanities.