Tell the Truth in the 1st Place ??
>>What is the solution? Does anyone know even at this late date?<<
On Wednesday, Senator Chris Dodd retracted a lie and was forced to admit he slipped language in the bailout bill under pressure from the Obama Treasury Department that paved the way for the bonuses.
Here's the story according to Fox News:
"In a dramatic reversal Wednesday, Sen. Chris Dodd confessed to adding language to a spending cap in the stimulus bill last month that specifically excluded executive bonuses included in contracts signed before the bill's passage.
"Dodd, D-Conn., told FOX News that Treasury officials forced him to make the change.
"'As many know, the administration was, among others, not happy with the language. They wanted some modifications to it,' he said. 'They came to us, our staff, and asked for changes, and the changes at the time did not seem that obnoxious or onerous.'"
Now, let me just point out there may be nothing at all strange about companies being taken over by the government paying retention bonuses to keep needed employees. I can imagine certain employees had to be incentivized to stay in a failing business the government told us had to keep operating.
The problem here is that the government has decided to meddle in the private sector, dedicating literally trillions of dollars in public funds to irresponsible companies for the expressed purpose of propping them up. And what happens when politicians try to run the economy – from finance to the auto industry? Chaos.
Obama, Congress and others who allowed the bonuses express faux outrage. To add to the chaos/lawlessness, the House just passed a confiscatory tax measure that even some of its supporters suggest may be unconstitutional. These days, I'm getting the feeling more and more that our federal government is largely out of control.
And to make matters worse, all the while the government has been spending our money behind closed doors away from public scrutiny. That's why Judicial Watch has been so aggressive in filing Freedom of Information Act (FOIA) requests with the federal government related to the bailout scheme.
When the Fannie and Freddie scandal first ripped through the economy last year, we filed a FOIA. When Secretary Paulson met with bank executives and offered them a "deal they could not refuse," we filed a FOIA. And on Thursday, Judicial Watch filed a fresh batch of FOIAs related to the AIG mess that emerged this week. The whole bailout scheme is now approaching north of $12 trillion in potential costs to the taxpayer. I'm sure you agree we need to follow that money!
We will continue to fight for bailout documents so the American people can know the full truth. And this effort is already paying off. Click here to read some documents we uncovered a couple of weeks ago related to the government's interference in a corporate buyout.
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