Why did Nero fiddle when Rome was burning ?

Some questions to ponder over the weekend …

* * * * *

Why did Nero fiddle when Rome was burning ?

Obvious answer: Because there was no TV in 64 A.D., so appearing on the Tonight Show wasn’t an option.

Call me ‘old school’, but I would have rather seen the President huddled all day with his economic advisers …

* * * * *

Do people who don’t pay takes have a right to be outraged ?

I cringe when I hear “everybody has a right to be outraged … those are your tax dollars going to the AIG execs”.

Now (post-stimulus), less than half of voting age Americans pay income taxes.  In other words, less than half have any skin in the game.

I guess those folks (who don’t pay income taxes) are outraged because taxpayer money going to AIG bonuses potentially drains the pool of freebies that they’re lining up to get.

Geez

* * * * *

Why doesn’t Ed Liddy resign ?

This guy was pulled from retirement by the Treasury Dept to step in to the AIG CEO slot.  His comp package: a whopping buck a year.  Then, he has moron Congressmen denigrate him in public.

If I were he, I’d tell them to stuff it … let Barney Frank run the place if he’s so smart

* * * * *

What about Wells Fargo, Northern Trust, and JP Morgan Chase execs ?

Press reports say that those banks took TARP money only because the Treasury Dept pressured them to do so — so that badly run banks wouldn’t suffer the indignity of being so easy to pinpoint.

OK, so those execs are running good businesses and, in reasonable people’s opinions, deserve performance bonuses.  Now, they get the bonuses taxed at 90%

And, TARP says they can’t just repay the TARP funds out of earnings, they have to replace it with fresh capital.

Prediction: you’ll hear a lot about this over the weekend.

* * * * *

Who’s next ?

As I pointed out yesterday, once a precedent is set to impose retroactive confiscatory taxes on people just because they are politically toxic … there’ll be no stopping the train. 

Imagine a $2 per gallon Federal tax on gasoline retroactive to January 1 … why not?

And, some folks got rattled by the Patriot Act.  This is one to worry about.

* * * * *

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2 Responses to “Why did Nero fiddle when Rome was burning ?”

  1. James Says:

    I’m still wondering where the outrage over good ‘ole Barney and Dodd have been? Why don’t we put these guys on the stand for a grilling in front of Congress? Barney is jumping up and down screaming at these guys, yet refuses to acknowledge any responsibility for the crisis. Did people/media forget that this guy was promoting Fannie/Freddie last summer before it took a much deeper dive? Did they forget that he is (or was) in a relationship with a Fannie exec while on the House Banking Committee during the mid-late 90s. Yeah I’d say it’s a conflict of interest when your writing/voting on housing laws and your lover is a top exec at the firm that stands to gain. Now coming to Dodd, this clown admits he was responsible for some of the language in TARP that enabled AIG to legally distribute bonuses…..and didn’t he accept some “special” personal mortgages from Country Wide? Scary to think that this guy actually ran for president.

  2. Heartburn Home Remedy Says:

    The style of writing is very familiar . Have you written guest posts for other blogs?

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