Enough about AIG


Right now everyone is having a field day with AIG and their $165M bonus.  Well I say suck it up America.  First of all those bonuses were contractual obligations.  The first thing you learn about business is you honor contracts.   If AIG had been allowed to fail and go into bankruptcy then a judge could have wiped out all those contracts, but both the Bush and Obama administration have decided to keep feeding the parasite.  That money was destined to go to whomever it did, so no crying about it.

Now the brilliant people on FoxNews are saying that, hey “we” own 80% of them and don’t we get a say?  Well, did the Federal Government call a board meeting to say “We’re the new owners and the new policy is no bonuses or stock options until we say so”?  No, they didn’t.  Though to be slightly fair I bet they didn’t think they needed to call an emergency board meeting to get that point across.

The other dilemma that the people at FoxNews are facing is that the Board has a fiduciary duty to perform.  I doubt it would be legal for any Board of Directors of a public company to simply say, we’re not paying our contractual obligations in terms of bonuses or to foreign creditors (German and French banks) that we owe money to because it’s the American people who own this joint now.  The new stock holders (the government) should have proactively gone to all of the banks that AIG owes money to in order to get a better rate or defer payment until things stabilize.  It’s too late for that now, but Geitner should have a great To Do list.

The other rant I have is about all the Las Vegas parties that the financial industry haven’t canceled.  I’m not up to date on Nevada law, but in Georgia you are not entitled to a refund if you pay in advance.  If you pay your gym membership up front, you get a form that tells you under state law you have no recourse if the other party fails to perform because you are paying in advance and that the seller will not issue refunds for any reason even if the business closes.  You are entering into a 1-year or 2-year contract with payment in full in advance after all.  If I’m running a resort and I have some big wall street types, or small business types or a wedding party, wanting to rent the place out, you can sure bet I’m going to stick them with the non-refundable contract under state law.  They can either cancel their party and I keep their money, or they can throw the party and I can keep their money.  So, don’t be mad at Wall Street for continuing to party.  They’re just doing business with ordinary people who have a facility to rent.

ND Legislature Gives Clump Of Cells Personhood


The ND Legislature has voted to give a fertalized egg the rights of a person.

The bill declares that “any organism with the genome of homo sapiens” is a person protected by rights granted by the North Dakota Constitution and state laws.

The bill passed 51-41 and is sponsored  Republican Dan Ruby.  Like many Republicans he attempts to get votes from “the core” of the party, unfortunately he has opened up a can of worms that doesn’t help out the Republican party.

“Human embryo” means all human beings from the beginning of the
embryonic period of their biological development through eight weeks,
irrespective of age, health, function, physical dependency, or method of
reproduction, whether in vivo or in vitro.

So harming a “human embryo” is the same as harming a person according to this clown.  This effectively means that birth control is off the menu in North Dakota since you are bringing harm to the embryo by net letting it implant in the uterus.  It would also ban fertility treatments since some of the fertalized eggs are discarded or simply fail to implant.  The creation of a “human embryo” with the knowledge that you may not have a successful implantation may be harming that embryo.

The state shall naturalize all preborn persons and shall afford to them all the
privileges and immunities of state citizenship guaranteed in section 21 of article I of
the Constitution of North Dakota, except that the state is not required to include
preborn children in state and local censuses

Rep. Ruby should be glad North Dakota does not border Mexico.  Mention of the word “citizenship” for the preborn would bring thousands of illegals across the border who don’t get the meaning of what is being accomplished here.

The people over at Office of Strategic Influence had an interesting thought.  Since an embryo is a person, does that mean that uploading your ultrasound to Facebook to share with all your friends is Child Pornography?  You are taking a picture of a nude “person” under the age of 18 and distributing it on the Internet.  Unintended consequences and as idiotic as some prosecutors are expect someone to make a name for themselves by charging people for distribution of child pornography.

The right to life is the paramount right of a person. The right to life is a more
fundamental right of a preborn child than the mother’s right to liberty or pursuit
of happiness, which does not include the right to kill other people. In no way
does a child’s right to life interfere with a mother’s right to life.

Whoa! Here come the Christian Taliban!  The right to life of a preborn child is greater than the mother’s right to liberty or pursuit of happiness.  There is no logic in this piece of legislation.  The pursuit of liberty and happiness is paramount.  Being stuck with a parasite for 9 months then a leech for 18 years interferes with both.  Logically speaking, you can always make another which means the woman has higher priority than any preborn.  She can always make another and we would assume that she is currently contributing to society, whereas a preborn has at least 15 years before they begin doing anything useful due to silly laws.  At least we Asians start contributing at an earlier age in our home countries.

This is clearly in line with something the Taliban would say, therefore we must oppose any legislation that puts our government on a sympathetic track with the terrorists we are fighting against.  Women fought a long time for rights in this country and anything that reduces the importance of women, or those of us that are already here for that matter, is sympathizing with Islamic terrorist philosophy which treats women as less than goats.  The idea that a state representative would commit to writing the idea that freedom and the pursuit of happiness is secondary is frightening and a sign that our elected officials do not have the interests of the American people in mind.  People being those of us that contribute to society and pay the politicians salary.