Sherman: “The bonus issue is a good vehicle to focus on the receivership issue."
Congressman Brad Sherman on CNBC Mark Haines and Erin Burnett and discusses his legislation which would prevent million-dollar-a-month salaries for executives of financial institutions bailed-out with taxpayer dollars (TARP funds). And Sherman not only schools Burnett and Haines but made them both look lik village idiots.
Some of the Sherminator's great lines: "I want all bailouts to stop. I want capitalism. Bailouts are not capitalism. TARP is not capitalism. We should have AIG in receivership. It should have been in receivership for months now. We don't have to hunt the witches, we know who they are. What do AIG executives know about running a financial services company? They only know how to destroy one. We need some limitations on salary and bonus. The goal is to get them off the TARP system entirely. Give back the money and run your companies. This is about people who think they are really important but work at bailed out companies. I'm against bailing out Wall Street, period. If they want capitalism, let them have capitalism and give the money back."
1 comment:
This interview proved how dumb the CNBC Economic Analysis are. Sherman spoke to these two as if he were teaching a class of first year students. It was such a professional smack down and showed these TV Stations hire people like Joe the Plummer. I was surprised at the stupid questions Erin asked. Listening this these questions one would think both Host worked for AIG and were trying to defend the criminal acts. This clearly shows why the Media is losing viewers. When the viewer knows more then the TV Economic Analysis it's time to change the channel. What's truely sad is I didn't like math and the White House explained the plan so well a 5th grader could understand it.
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