Wednesday, March 18, 2009

Commit Suicide

This is just amazing.

AIG Vice Chairman and Chief Marketing Officer Robert G. Krebs suggested that Senators Chris Dodd (D-CT), Charles Grassley (D-IA) and Rep. Barney Frank (D-MA) take a "Japanese approach" toward accepting responsibility for the collapse of Fannie Mae and Freddie Mac by resigning or killing themselves.

"In all candor, I don't know why they're so exercised by some bonuses. These pathetic excuses for politicians cost the taxpayers trillions of dollars and, worst of all, they're still in power."

"I suggest they ought to be removed," Krebs said. "But I would suggest the first thing that would make me feel a little bit better toward them if they'd follow the Japanese example and come before the American people and take that deep bow and say, I'm sorry, and then either do one of two things: resign or go commit suicide. And in the case of the Japanese, they usually commit suicide before they make any apology."
Unfortunately it is not true. A guy had a dream. And you know, in America, a guy still can dream.

H/T Instapundit


Anonymous said...

Nice touch. All this manufactured outrage is to divert voter anger from our politico-criminal class and redirect it to corporate America.

Unfortunately, it appears to be working.

rumcrook said...

it can only work for so long. the kings of washington have no cloths and when things of which they have no control and in thier myopic vision dont see coming hit the fan and they will hopefully pay the price.

I guess what im saying is they are gonna run out of scape goats soon.

Neil said...

How many scapegoats has Obama run through already, on his quest to create the all-powerful American state? Bush, Limbaugh, AIG, Dodd, I'm sure I missed a few in there. Most demagogues stick to one scapegoat--the Jews, the Kulaks, something. This guy can't pick a good one, and every time he changes targets it reduces his credibility--he's turning into the boy that cried "wolf".

He's not going to be able to keep the wheels on the wagon much longer, which means there's going to be hell to pay when the REAL economic troubles start. The baby boomers are at the peak of their earning and spending years right now, as we speak. Inducing a non-inflationary recovery in this economic environment is child's play. Starting next year, the U.S. consumer economy will undergo a secular decline, and will continue to decline every year for the next 10 years as the boomers retire. I think the Obama administration is counting on inflating away their spending habits. Good luck with that when aggregate world demand for goods is going down.

We had one chance--to use the remaining good years to encourage the growth of an Asian middle class, and to re-vamp our own economy into an investment, trading, and production-oriented economy. That means lower cap-gains taxes, lower business taxes, free trade, and less regulation. Too bad President Obama's policies are precisely the opposite--higher taxes on cap gains and businesses, restrictions on trade, and more regulation.

Welcome to hell, boys and girls. Or, more precisely, welcome to Argentina.