Another lovely day yesterday!
Key West is Paradise!
I had a late lunch at the Yacht Club.
It is interesting. No matter where I go, the AIG bonuses are THE topic of conversation. People are mad! What bothers me is that some people are justifying it because “contracts” were involved. Sort of sacrosanct. Like contracts cannot be broken.
The contract argument is bullshit! It reminds me of Hitler’s PR man Goebbels who said, in effect, tell a lie long enough and people will start to believe it.
The contract argument from my perspective is Washington’s way of excusing its ineptness.
When the contracts were entered into, business was good. Remember that this recession fell on us suddenly like a ton of bricks! Though long in the making, it was not apparent till only recently.
There is a basic contract tenet that if there is a mutual mistake of fact, a contract can be invalidated. It was assumed when the contracts were entered into that business would continue to be good. Turned out to be a fallacy. Business turned bad. So no money exists to pay the bonuses. The bonuses are expunged. Pure and simple.
The mutual mistake of fact is that business would continue to be good and monies there to pay the bonuses.
Forget there is bailout money. It is tax dollars. It is morally reprehensible to use tax dollars to pay bonuses.
The argument is put forth that the AIG employees will quit if denied the bonuses. Let them! With 500,000 to 600,000 additional unemployed each month and millions out of work, replacements are a dime a dozen. And good ones at that!
The other argument justifying payment of the bonuses is that some of the AIG employees have allegedly threatened to expose company secrets. What company secrets! In this highly sophisticated and technical age, major corporations spy on each other daily. They are better than the US government at it. There are no secrets!
Congress seems to be as screwed up as the banks and insurance companies. I used to have great respect for elected officials. It was long ago, however. Now they appear like a bunch of idiots. They argue. They criticize. They blame. But they do not think. Congress no longer is proactive. It is reactive.
This 90 per cent tax thing that passed yesterday is a disgrace!
On first blush, one would say get the bastreds! Taxing them will get most of our money back! It will also get us our pound of flesh! It is Madoff finally going to jail.
Good luck! The 90 per cent tax is a civil Guantanamo! Flagrantly unconstitutional! I predict without hesitation that the courts will throw it out!
And we do not want government deficating on any individual or group. What was done to AIG employees with the 90 per cent tax yesterday, could well happen to you or me tomorrow in another fashion. We do not want nor can we live in that type society.
Recover the bonuses the old fashioned way. Sue!
Hire lawyers, and good ones at that, and chase down the bonuses!
When this nation was started, our founding fathers thought long and hard about how government was to operate. At the time back in the late 1700s, this country was based on a farm economy. Most affluent persons were farmers.
The Nation was small. Operation of government did not take that long. Congress sat only a few weeks a year. It was not a full time job. Elected representatives left the farm to travel to Washington to do the Nation’s business. After a couple of weeks, they returned home to work the farm the rest of the year.
Now it is a full time job.
One problem is that most elected officials keep getting reelected. Not a good situation! Congress becomes a life time job for many. Complacency sets in. Entitlement becomes a state of mind. A sort of royalty is created.
I have never been a fan of term limits. But I am coming to the conclusion that it is time to impose them on Congress. Two terms and go home! Just like the farmers of old and in compliance with the thinking of our founding fathers. I doubt it was ever intended that Congress become a full time job for a number of years!
Like all else, when every thing seems to be screwing up, a return to basics is required.
Enough of AIG and Washington.
Last night was bocci. The best of all evenings each week!
We continued our downward spiral. Lost all 3 games. Badly! 16-7, 16-2 and 16-5.
It is hard ot comprehend. Last year we were so good. This season, so bad!
And it is becoming mental. We know we are going to lose before we even start!
We have a terrific team. Captain David, Don, Michelle, Brandon, Maria, Jules, Rob , Bebe, Michael and me. All decent players. But last night, to a man/woman, we all stunk!
The interesting thing is that we are all happy! In spite of getting our asses whipped each week!
We joke and laugh. We hang around afterwards and happily chat. Down deep we all know we are having a bad season. Nothing we can do about it. It will pass. And a new season will arrive and we will be good again.
I continue to keep my drinking down. I am fighting the triglyciride problem. Only one drink last night!
Maybe that’s my problem!
Enjoy your Friday!