The Obamacons

No, Barack Obama is not to blame for the years and years of marxists and socialists with which we have peopled our Congress [beginning in the 1920s], but he has given them permission to act like fools. First, he appointed a tax cheat as Secretary of Treasury, Timothy Geithner, who skipped ethics class and church, to lead us out of a mess created by years and years of government tampering with the economy to the tune of trillions and trillions in bad paper. Second, by having zip-nada-zilch business experience and being the titlular head of ACORN, President Obama helped create the mob mentality in Congress and in front of the AIG execs' homes, the very people the Obamacons hired to get us out of the mess. Creating and inciting mobs to violence (someone had to pay for the bus, the meals, the driver, the "community organizer" to gather them up from street corners and bars) is resorting to the old USSR and Chi-Com tactics of decades past. Worked then, why not today?

In today's WSJ, Hernando de Soto says something very important about contracts--something so key to this trumped up AIG bonus frenzy, he probably didn't even realize it, since I don't think he's that sympathetic to capitalists, and writes about the disparity between the poor and wealthy.

"Ever since humans started trading, lending and investing beyond the confines of the family and the tribe, we have depended on legally authenticated written statements to get the facts about things of value. Over the past 200 years, that legal authority has matured into a global consensus on the procedures, standards and principles required to document facts in a way that everyone can easily understand and trust.

The result is a formidable property system with rules and recording mechanisms that fix on paper the facts that allow us to hold, transfer, transform and use everything we own, from stocks to screenplays." WSJ article

What he left out is that Congress has violated this long tradition of honoring a contract. Everyone (at least on their staff) from Obama on down through the newest elected Representative, like Mary Jo Kilroy from Ohio, knew that the people getting the "bonus" (i.e. a salary due at the end of a service) were not the people who ran AIG into the ground. They were the people hired to fix the mess. Now, given how they were treated, how mobs were hired and their families threatened by the likes of Barney Frankenstein in trumped up phony televised hearings, would you want to sign on for government service to help your country?

If the contracts with AIG are worthless, so are your mortgage, your college transcript, your bank CD certificate, your credit card interest agreement, your auto lease, your pension plan payout and the menu at your favorite restaurant.