Hypocrisy, thy name is Barney Frank
Posted by danishova on March 16, 2009
WASHINGTON (AP) — Rep. Barney Frank charged Monday that a decision by financially strapped insurance giant AIG to pay millions in executive bonuses amounts to "rewarding incompetence."
Echoing outrage expressed on both sides of the political aisle in the wake of revelations that American International Group will pay roughly $165 million in bonuses, Frank said he believes it’s time to shake up the company.
The story goes on to say:
Frank said he was disgusted, asserting that "these bonuses are going to people who screwed this thing up enormously."
"Maybe it’s time to fire some people," he said. "We can’t keep them from getting bonuses but we can keep them from having their jobs. … In high school, they wouldn’t have gotten retention (bonuses), they would have gotten detention."
Ha Ha Ha. Ya know, Barney, screw detention. If there was any justice, your mega-millionaire friends at Fannie Mae and Freddie Mac would be in jail right now. Maybe you and Chris Dodd should be right there along with them. Your big donor pals cooked the books so they could get mega-bonuses, and these deceptive practices helped facilitate the housing crisis, and screwed the American people in the process.
What’s criminal on your part? When confronted with the situation in OFHEO hearings, you said, among other things, I don’t see anything in this report that raises safety and soundness problems. Did you believe that, despite ample evidence to the contrary, or was it a brazen, impeachable lie? You’re either a grossly incompetent fool, or a shameless liar. In either case you should resign. You had second chances too! It’s not as if John McCain didn’t propose legislation to Congress in 2006 (that would be you Barney!) which would have brought reform before it was too late:
I join as a cosponsor of the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190, to underscore my support for quick passage of GSE regulatory reform legislation. If Congress does not act, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole.
Sounds just about right, doesn’t it Barneykins?
But nooooh, instead of being punished, and demoted, or thrown out on your fat ass, you are being rewarded by Madame Pelosi, and hailed as a hero. The same Nancy Pelosi who said that the crisis was able to “sneak up on us so silently, almost on little cat’s feet…”
Poor Nancy, not only is she dumb as a rock but she’s also deaf as a post. I know we’re supposed to accommodate people with disabilities, but it’s time for Nancy to go too. It’s not fair to make the entire country suffer because she’s mentally and aurally-challenged.
Update: Michelle Malkin weighs in, although she inveighs against Congress receiving bonuses for their incompetence. I care about that too, but it’s minor in comparison to everything else Barney has done to deserve our ire.