Needlenose

Ron points out he tried to amend the Wall Street Con Artist bailout plan to cap executive bonuses, but his provision was stripped out.   He snipes at Obama a bit over the bungling of the Bailout II (which did happen on Obama’s watch), but I think the problem is still Harry Reid, the wrong man for the Senate Majority Leader position.

Ron and Senator Snowe are trying to reintroduce the provision as standalone legislation:

“… he and Snowe have a remedy: they are reintroducing their stimulus provision as a stand-alone bill, only they are getting even stricter with bailed-out institutions. Instead of capping bonuses at $100,000, they are lowering the level to $25,000. The law would cover all recipients of taxpayer TARP money, as well as those firms — like AIG — which have received money outside of the Troubled Asset Relief Program. And it would deal with bonuses issued in 2008. If a company refuses to give up the bonuses, the amount that exceeded $25,000 would be taxed at 35 percent.

“They are either going to have to pay it back or they are going to be taxed,” said the Senator. “And I think that is going to be pretty hard when they are already getting taxpayer money.”

Good luck Senator Wyden!

In a couple of days Ali Al-Marri will get another trip to a Federal court to see if he can go out on bail. After 3 years of Bushian limbo, the wheels of justice are beginning to start grinding again.

What was Al-Marri’s alleged crime? He was allegedly a sleeper agent for Al-Qaeda, whose mission was “to wreak havoc on the U.S. banking system.”

Huh?  I thought that was the job of Phil Gramm and the Repugs who deregulated the markets and looked the over way over the last decade while the mess was brewing?!?  Seriously, if Al-Marri was guilty as charged,  wouldn’t he be getting a big fat bonus like all financial services executives who *actually* wreaked havoc on the US banking system?

I’m confused here, why no bonus for Al-Marri?  Or court for the various actual executive ‘sleeper agents?’