I am appalled and disgusted by AIG in giving out $165 million in bonuses, especially after they came groveling to the federal government for bailout money. However, I am also very concerned about Congress’ response to this travesty.
Our founding fathers knew what it was like to live under a totalitarian regime that could, and frequently did, single out individuals for punishment by confiscatory measures. The Framers of our Constitution realized that for America to truly be a free country, they would have to ensure that the government could not pass any laws singling out specific peoples for pecuniary punishment. Also, they realized that Americans could not truly have liberty if they could be punished by ex post facto laws. That is exactly what this Congress has done. The House has passed a law that they want to be applied retroactively! This is clearly unconstitutional, based on Article 1, section 9, of the US Constitution.
So while I personally will never try to do business with AIG or is subsidiaries, I also think it’s too late to do anything about it. Maybe if the Looters in Washington had actually READ THE FRICKIN' “stimulus” bill before they signed it, they would have known this could have happened; then they could have legally done something about it.
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