AIG Legal Contracts

“The populist anger at the executives who ran their firms into the ground is increasingly blowing back on Obama, whom aides yesterday described as having little recourse in the face of legal contracts that guaranteed those bonuses.

White House press secretary Robert Gibbs, peppered with questions about why the president had not done more to block the bonuses at a company that has received $170 billion in taxpayer funds, struggled for an answer yesterday afternoon. He explained that government lawyers are "looking through contracts to see what can be done to wrest these bonuses from their recipients."

Government must not engage or sponsor business or industry; everything government touches it turns foul.

Obama himself sought to channel the public's sense of disbelief yesterday. "How do they justify this outrage to the taxpayers who are keeping the company afloat?" he said, declaring the bonuses an "outrage" that violate "fundamental values." 

The problem is the fact, the U.S. government not only did not stop it, it shares the blame to violate the fundamental values. The U.S. government is found guilty in violating the fundamental values too many times. Affirmative Action is a violation of justice, and violation of the fundamental values. Corporate subsidies and subsidies of rich individuals are violations of the fundamental values.

1.      Legal contracts are lame excuses. 

AIG is broke, out of the legal contracts AIG has not even one cent to pay those people who managed AIG into bankruptcy in the first place. American political and legal system is so extraordinary to have little recourse or even has to negotiate with AIG management who are receiving taxpayers’ bailout money of $170 billion! It looks like AIG is more powerful than the United States government. Beggars have power to demand hundred millions in bonuses. America is extraordinary nation that makes the crooks and criminals win and the taxpayers lose. There was and there is no reason to bail out the corrupt AIG in the first place. It is really catastrophic to bail out such unworthy firm like AIG! Having little recourse? Or do government officials have little brains with no character? Do American officials work for AIG or for the American people? No legal contracts can guarantee those bonuses when the company is bankrupt. Don’t they know that federal law supersedes state law and contract law or any business agreement? Again and again the American people have been made fools. The only solution is to seize AIG and fire all crooks and criminals to be prosecuted for their illegal and fraudulent practices, and sell all its assets to recover taxpayers’ bailout money. All AIG employees and management will have nothing to claim and lose everything including their pension because AIG executives have made the company a loser and a failure. A defunct corporation is like a dead person without any legal obligations. The AIG executives are the responsible persons to their investors and employees.


2.     “Iowa Sen. Charles Grassley suggested on Monday that AIG executives should take a Japanese approach toward accepting responsibility for the collapse of the insurance giant by resigning or killing themselves.” 

This is not a Japanese approach. The evil empire of Japan does not accept responsibility for its war crimes, genocide, sex slavery and atrocities committed against Chinese, Koreans, etc. and whitewashed and denied them all. I support Sen. Charles Grassley, maybe he should be the president and the leader of the United States. We must go further not only demand that AIG crooked and corrupt executives to resign but to be prosecuted for their crimes. Of course, you do not prosecute dead executives. Secondly, the sums that AIG used bailout money to funnel to their collaborators and co-conspirators, Goldman Sachs ($12.9 billion), 20 European banks ($58.8 billion), Merrill Lynch ($6.8 billion), Bank of America ($5.2 billion) and Citigroup ($2.3 billion) must be reclaimed and returned to the Treasury.  The gang of crooks and criminals are looting the United States, where is the Department of Justice?Thirdly, all assets of corrupt and crooked AIG executives must be seized by the Treasury. All bailout money must be accounted for and returned to the Treasury. Nothing has been done, how do taxpayers trust the government?

3.    The American government should never guarantee or sponsor any business or enterprise, that will be giving them a tool to exploit and defraud the taxpayers. 

Free enterprise means businesses and industries are free to succeed or fail on their own and bear the consequences of their actions without government assistance. The government is not in business and should never act in any way to benefit a certain business or enterprise. The job of government is to regulate business and industry for fair practice and free competition. Monopoly is the public enemy of any business or industry. The purpose of anti-trust is to bust any monopolistic or unfair business practices.

4.      America needs a Jeffersonian revolution. 

My fellow Americans, rise up now to save our country from corrupt politicians and self-serving bureaucrats, and wicked crooks and criminals before it is too late!

Too bad there is no one like Jefferson who can lead America now.

5.    No contract is legal or valid when it violates justice, or it commits a fraud, or either party does not comply with the terms of the contract, or the condition has changed which annuls the contract.

Apparently there are so many parasites and useless bureaucrats in the federal government who do not work for American people; they work for themselves and special interests, the poor American taxpayers pay for their high wages and benefits. That is the reason I suggest the federal government (the three branches of government) must be reduced by 2/3 and all federal agencies and departments by 2/3. The bureaucrats in America belong to the 1 percent of the population who rule the 99 percent. They have jobs better than what the Chinese used to call "golden rice bowl."

Willie Wong

September 23, 2015  

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Note: This article was censored and deleted by a liberal media. Now you know: Freedom of expression is pure political propaganda and phony like a $3 bill.

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