Obama’s gross errors on AIG inexcusable

Stephen J. Chiarello, Henderson

Monday, March 23, 2009 | 2:02 a.m.

The AIG debacle is making Barack Obama’s presidency the most incompetent since the Jimmy Carter years, when interest rates hit a whopping 18 percent.

First, how can Congress and our dubious president pass any bailout or stimulus package without even reading all the provisions of these monumental bills, and not give the citizens of this great country a chance to digest and dispute any parts of these bills that will ultimately hurt taxpayers in the pocketbook.

This is ludicrous, and our forefathers must be turning over in their graves, as there were no checks and balances to stop these insane moves by our elected congressman.

AIG took it upon itself to use some of the money it received from the government to bail out three major European banks, one each in England, France and Germany.

This money was not given to AIG to help the European economy. Remember that charity begins in the U.S. first and foremost.

Then, to make matters worse, AIG allows $165 million in bonus money to be distributed to its top executives, rubbing salt in the wounds of the American taxpayers once again.

The outrage to this nation and all Americans who work hard for a living has to stop immediately or you will see in the near future a taxpayers’ revolt against this corrupt government in power.

Let’s do the right thing here and investigate Sen. Chris Dodd and the president for letting AIG get away with this terrible injustice, as AIG gave huge sums of contributions to both of their election campaigns.