Bonus outrage is misplaced

Bonus outrage is misplaced

EDITOR:

So Rep. Tim Ryan is outraged at the recent news of the AIG bonuses and, egged on by his cheerleaders on the Vindicator’s editorial staff is ready to punish the bonus recipients with a confiscatory piece of legislation.

Let’s get a couple of things straight. Those bonuses were contained in the bloated, wasteful, so called “stimulus bill” that Rep. Ryan supported and enthusiastically vote for in February. Rep. Ryan either did not read the bill and, therefore did not know that the bonuses were in it, or he did read the bill and didn’t care about the bonuses until it was politically expedient to do so. It is troubling to think that Rep. Ryan supported spending $1 trillion without reading what was in the bill. It’s equally as troubling to watch his politically driven, populous outrage. If bonuses to executives of failing, taxpayer supported business’ is so maddening and worthy of a terrible piece of legislation such as the one passed by the House last Friday, where’s the legislation forcing Franklin Raines to return the $93 million dollar bonus, and Jamie Gorelick the $25 million bonus they received from Fannie Mae while driving that GSE into the ground?

The American public is outraged about “bonusgate,” but we’re not mad at the recipients of the bonuses, we are mad at the president, the House and the Senate. The bonuses were put in a bill that was rammed through, with no hearings, discussion or serious consideration.

And speaking of the ill conceived legislation passed last week — since when was passing a bill of attainder (and possibly ex-post facto law) constitutional? Let’s pretend the federal government successfully seizes the money that is legally and contractually due those AIG employees. The U.S. government will spend at least $165 million dollars trying to defend this flawed legislation in the courts. The government will lose, the bonuses will end up being paid, and the only winners will be the attorneys.

One can only hope for the sake of this country, and this Valley that Rep. Ryan spends a little more time considering the costs and implications of the “cap and trade” legislation Speaker Pelosi and President Obama are crafting under the cover of darkness. Such legislation will hamstring industry in the country and deal the final, fatal blow to this Valley.

MICHAEL McGAUGHEY

Poland

Getting fat in Washington

EDITOR:

While millions of American citizens are out of work, Congress continues to receive perks and cost of living increases.

Instead of speaking of Wall Street greed and arrogance, Congress should take a look into the mirror and see their own greedy, arrogant image.

Hopefully, the American citizens will be aware that these elected officials are in office primarily to fatten their own bellies.

ANNE PLANEY

Coitsville