Iowa Defense Alliance

Iowa’s Great American Hypocrite, US Senator Tom Harkin, is at it again. This time he has joined with several other irony-impaired Senators to compose a warning to American International Group Chairman and CEO Edward Liddy. In this letter the group of Senators have ironically lambasted the employees of this company as failures and that they are responsible for the worldwide financial meltdown. Not once do they consider their own actions and inactions as a contributing factor. Not once do they consider their blind defense of Fannie Mae and Freddie Mac as contributing factors. Instead they ridicule a company that has it’s own contractual obligations to meet.

In House of Representatives a group of naïve Congressman have joined together to author a letter to Department of Treasury Chairman Timothy Geithner, you know, the tax cheat. Among these misguided or misguiding Congressman is Iowa’s Bruce Braley. In this letter the House Democrats they urge Geithner to find some means to prevent AIG from disbursing bonuses to employees. In a complimentary introduction Braley cosponsored a bill aimed at the aforementioned bonuses. Titled the Bailout Bonus Tax Bracket Act of 2009 that would require any bonuses paid to employees of corporations that accepted bailout funds over $100,000 to be taxed 100%.

This AIG scandal could have been prevented months ago when the Troubled Assets Relief Program was designed, but Congress stumbled. When the House shot the first iteration of the bill down Congress could have revised the bill to include the needed restrictions, but Congress fell. Perhaps this was the intention all along, to create a scandal involving one of the bailed out corporations. Perhaps they want to use this scandal as a means of setting the precedent of the confiscation of wealth. But then again perhaps not, but one must wonder when Congress had ample opportunity to prevent the problem.

As for Comrade Harkin and Comrade Braley, what can you expect from them? They are nothing more than Democratic lap dogs doing the bidding of Pelosi and Reid even if it means the destruction of freedom and liberty.