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Wednesday, March 18, 2009

Is Geithner Getting Scapegoated for AIG?

For a couple of days, there was much outrage on the Communism Channel over AIG paying out bonuses to its executives. Last night, I saw a new twist.

Allegedly, Treasury Secretary Timothy Geithner knew that AIG had clauses in its executive contracts that guaranteed bonuses, but withheld that information from Obama. When AIG was bailed out, he didn't insist those contracts be rewritten.

That's a neat fnord! (I've discussed this one before.) Don't blame the corrupt economic system. Blame Timothy Geithner!

There will be a week or two of escalating outrage and hatred directed toward Timothy Geithner. Then, he will resign. The mainstream media will spend some time hyping up Geithner as an evil person who should be fired. At first, Obama will say "I support Timothy Geithner." However, due to the mounting mainstream media outcry, Timothy Geithner will be forced to resign. Obama will name another financial industry insider to replace him. That solves the problem!

The evil fnord is "The system is not corrupt. Timothy Geithner is to blame. We replace him with another figurehead, and then everything will be all right!"

Another important aspect of the evil fnord is that Timothy Geithner will not resign right away. There will be escalating hatred and hype, culminating in his resignation. Instead of having hatred for a corrupt system, people will direct their hatred towards Timothy Geithner. Dragging out the process for a week or two allows people to vent their frustrations.

I wonder if my prediction "Geithner is getting scapegoated!" turns out to be accurate. Even if it's wrong, that doesn't invalidate the other points I make.

2 comments:

Pro said...

We didn't hire AIG to watch over our tax money. We hired the government. The government owns AIG to the tune of 80%

The real people we should blame:

http://www.butasforme.com/2009/03/17/obamas-stimulus-bill-explicitly-grants-aig-the-legal-right-to-hand-out-bonuses/

fritz said...

I like it when you stick your neck out and make a prediction.Lets see what happens, We have seen this kind of thing before. Your hunch is most likely correct!!

Fritz

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