Ed Morrissey writes:
Rep. Paul Kanjorski (D-PA) spends most of his time slamming Edward Liddy, the CEO of AIG, for paying out bonuses in this CNBC video, but listen for his anger at the Obama administration’s insistence that it knew nothing about the bonuses until last week.
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Kanjorski certainly understands the political ramifications of these developments. He blames Liddy for putting Obama’s bailout plans at risk, even though Lawrence Summers confirmed that AIG had a contractual obligation to pay the bonuses, but the end result will be the same no matter who gets the blame — the American electorate will resent the bailouts and clean house (and clean the House) in 2010. As Mel Brooks once said in Blazing Saddles, their phony-baloney jobs are at stake. And looking like the “Keystone Kops”, as Kanjorski accurately describes the Bonus Baloney, will make that result even more likely.
But considering that Kanjorski was the Democrat first seen having FDR and New Deal flashbacks in the middle of 2008–when the Dow Jones was well over 12,000 points, wouldn’t he have been better off name dropping a comedy team from the 1930s to describe the administration? If their policies seem Cocoanuts to even a true believer like Kanjorski, imagine how they appear to those who haven’t imbibed the Duck Soup?
Meanwhile, “Hey, guess who else has an executive retention bonus plan?”