Rep. Cummings asks, ‘Is Kashkari a chump?’
Rep. Cummings asks, ‘Is Kashkari a chump?’
In a hearing today, Rep. Elijah Cummings (D-MD) excoriated “bailout czar” Neil Kashkari after reports emerged saying that AIG doled out $503 million to top executives. Noting the financial troubles in his Baltimore district, Cummings asked rhetorically whether his constituents would think Kashkari is a “chump” after learning of the AIG bonuses:
CUMMINGS: I’m just wondering how you feel about an AIG giving $503 million worth of bonuses on the one hand, and accepting $154 billion from hard-working taxpayers. You know, because I’m trying to make sure you get it. What really bothers me is all these other people who are lined up. They say, well, is Kashkari a chump?
“I wouldn’t want to be asking my friend for some money to stay afloat. … Then my friend, who can barely afford to go to McDonald’s sees me in a restaurant costing $150 a meal. There’s absolutely something wrong with that picture!” exclaimed Cummings. Watch it:
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Rep. Cummings asks, ‘Is Kashkari a chump?’»
– - Heckuva job, Brownie. And now, Kashkari, check please!
November 14th, 2008 at 5:42 pmPoor Kashkari having to take the arrows meant for Paulson, Bernanke and Bush; but, when you lay down with dogs, you’ll wake up with fleas.
November 14th, 2008 at 5:48 pmChuck Feney Says:
Poor Kashkari having to take the arrows meant for Paulson, Bernanke and Bush
– - It’s The Palin Syndrome, eh? Somebody asked to do something they were ill-equipped to handle yet feel compelled to agree to the task, due to a huge ego that needs stroking and a blindness to one’s own capabilities.
By the way, there is no gun to the head involved in this syndrome.
November 14th, 2008 at 5:54 pmIn college, a good friend of mine was broke and I knew he was broke, we all were. But he didn’t have enough money to eat. He asked me if he could borrow $10 to get some food. Sure, no problem, even though I was poor at the time too. I lend him the money and headed out of the apartment. When I returned, I see him sitting there eating a Papa John’s pizza. F’ing brilliant.
November 14th, 2008 at 5:57 pmYes Indeed , Rep. Cummings.
Mr. Kashkari should take this salvo as Constructive Criticism. A shot across his Bow.
This whole “Bailout/Rescue needs to be 100% Transparent and on the internet.
November 14th, 2008 at 5:57 pmI knew a guy like this once, would go around work asking to borrow money so he could feed his kids then we would see him coming out of the store after work with a case of beer.
November 14th, 2008 at 5:59 pmHe is the fall guy. Congress takes some of the blame too. Paulson now changed his mind about his original plans..but now this guy Kashkari takes all the blame.
November 14th, 2008 at 6:02 pmA reminder of Oliver North taking the heat over the Iran Contra scandal.
My young Bride has the answer for solving all these problems.
November 14th, 2008 at 6:03 pmFirst President Obama appoints every Senator from a State with a Democratic Governor to a Cabinet position. Secondly the Democratic Governors appoint new Democratic Senators to replace the Cabinet members. Thirdly, president Obama calls for and accepts the resignations of all the ex-senators that were appointed. A real super-majority in the Senate without Joe LIE-berman. A good side effect would be that both McGone and Kyl from Arizona will be gone, gone, gone!
Kashkari is a chump. And he is unfit and unqualified to do this job. And he is an idiot for letting Paulson put him in this position. He is wet behind the ears, way below the bar and completely out-classed and out-gunned. He is another administration joke being played on the American people. He is almost a guarantee that the $700B bail-out will be a trillion dollar boon-doggle.
November 14th, 2008 at 6:14 pm“Chump” isn’t the word that comes to my mind.
November 14th, 2008 at 6:16 pmI don’t want to hear angry words from lawmakers. I want heads to roll. I want AIG executives to lose their jobs. I want their bonuses taken back. They are all, AIG & the lawmakers, toying with us.
November 14th, 2008 at 6:22 pmWe are the chumps, folks.
November 14th, 2008 at 6:23 pmWe let a former chief executive of Goldman Sachs become Secretary of the Treasury.
And then swallowed his bailout BS and let him pass the money around to his fellow have-mores.
I think they need to get Paulson up there. He’s the one who arranged all this. Kashkari is just Paulson’s lackey.
November 14th, 2008 at 6:24 pmThese crooks are giving the American public and government the finger and laughing their asses off in the process….
…do you understand capitalism now?
And with AIG saying they need to do that to keep them….
….well, where exactly will they go to get other work???
The unemployment line like 10 million Americans.
We are being screwed.
November 14th, 2008 at 6:27 pmi’ve said it once and i’ll say it again: as part of this “bailout” package, the assets of the top cats should be frozen and held as collateral until “we the people” get paid back for their screw up.
November 14th, 2008 at 6:28 pmMr. Evil Says:
“Chump” isn’t the word that comes to my mind.
Yeah, I could think of a whole lot of words you can’t say say on television about what I think of this one.
November 14th, 2008 at 6:30 pmI believe the terms of the bailout prohibited any of the funds going to bonuses, severance packages, parties, etc. So, this $500 mil payout would be illegal. The other problem with the bailout was that the transparency and oversight was not put into place before the first dime went out. Nothing should have been paid out unless those responsible for the oversight signed off on the chit. Also, Paulson is already late on his first report due.
Fu(king brilliant in the total incompetence of it all.
November 14th, 2008 at 6:31 pmIt’s our money. We’re the chumps.
November 14th, 2008 at 6:40 pmWe are being screwed.
November 14th, 2008 at 6:27 pm
Screwed is when they don’t fill up the coke cup.
We are being ROYALLY AND TOTALLYF UCKED!
November 14th, 2008 at 6:45 pmCongress members (Democrats & Republicans) failed the public with their miserable performance over this issue,now putting the blame on this guy Kashkari.
Congress should have used their power and oversight to avoid this nation such a mess from start,again Congress members did not do their homework to see how the allocated money in the billions are going to be spent.
November 14th, 2008 at 6:48 pmCongress members are now taking their frustration out of this guy,some even accused him of lying to Congress to get the money…
What about Bush and Paulson who wanted the money so badly,we were told, or the whole economy will go bust?
Right Zooster, the American people are the chumps. Kash isn’t losing a penny–he’s just helping his buds.
When are the American people going to learn?
November 14th, 2008 at 6:51 pmI don’t think it’s quite as simple as “we are the chumps”, although we surely are.
I think the better answer to Rep. Cummings’ question, “What really bothers me is all these other people who are lined up. They say, well, is Kashkari a chump” is that, no, Kaskari and Paulsen think WE are the chumps.
November 14th, 2008 at 6:58 pmWe were promised tranperancy and there is none. Kucinich and Sanders were right. Goldman Sachs gives Henry Paulson $700 million and then Hank gives them how many $billions? Are we even allowed to know? It’s our money.
November 14th, 2008 at 6:58 pmO well. Congress can’t do anything about it. They signed over all authority to the Treasury in the bill they passed.
November 14th, 2008 at 7:03 pm.
Dear Rep. Cummings,
Asking people, “What’s wrong with that picture,” when they suffer from an extreme case of abject reality will do no good for they already are divorced from reality that no matter the situation, their plight will always seem to them, the principle priority that must be maintained, regardless of how it affects other people.
.
November 14th, 2008 at 7:12 pmAlejandro.
Exactly. They gave up the control of that money…
… But looking tough makes ‘em look tough, YES?
Of course this is just a show…
… MUST. KEEP. UP. PRETEXT. OF. OVERSIGHT.
.
November 14th, 2008 at 7:18 pmWe’re the chumps just like the rape victim ‘asks for it’. I don’t recall being asked, and I sure as fck didn’t volunteer.
November 14th, 2008 at 7:22 pmYou guys have to go over to this link and read what Randi Rhodes has written about the foreclosure crisis. It is the first thing I have read that actually makes sense to me.
http://therandirhodesshow.com/
I think she has it right.
November 14th, 2008 at 7:32 pmIt’s time for the McDonald’s crowd to grab some bags of coal, head to AIG’s corporate offices and give these ass clowns the “real” bonuses that they deserve.
Then take the AIG’s executives fancy cars, suits and whatever else and see if anyone gives two sh!ts.
Then again, I’m sure Dumbya is stewing in his seat making sure he nor any of his stooges will never have to answer for his and Lord Cheney’s Sith economic, wartime and non-existent domestic infrastructure policies.
November 14th, 2008 at 7:48 pmCongress said they would create an oversight board on this and its been five weeks and no oversight board yet.
Its no wonder the stock market is doing what its doing, nobody trusts Wall Street and for good reason.
November 14th, 2008 at 7:55 pmKashkari the sacrificial lamb?
November 14th, 2008 at 8:50 pmXisithrus Says:
——————————————————————————–
Congress said they would create an oversight board on this and its been five weeks and no oversight board yet.
I’m sure some sternly written letters are on their way.
November 14th, 2008 at 8:54 pmAaand this is the problem with the bailout as proposed. We should be getting equity (i.e. buying their crap stock) in return. Appoint a government official on their board of directors to represent the shareholders/taxpayers, and use the board’s powers to rein in the corporate executives.
The mechanisms already exist for oversight, provided that we don’t simply hand them free cash. Treasury should be buying stocks on the open market, or even better, negotiating sweetheart deals like Warren Buffet gets.
November 15th, 2008 at 1:08 amUnbelievable . . . the grab-fest continues to the bitter end . . .Obama better count the silver and towels . . . . the French Revolution seemed to have figured how to deal with “management issues” . . . .
November 15th, 2008 at 1:41 amAmerica is slowly realizing life is not an Ayn Rand novel and you have to keep an eye on those rich buggers.
November 15th, 2008 at 6:37 amButch and Sundance move uptown to the bigtime
November 15th, 2008 at 8:42 amA missing in action (MIA) Congress for over a decade now calling this guy a chump.
It is laughable.
November 15th, 2008 at 10:42 amRep. Cummings, a known and recognized fighter for the people, asks, “Is Kashkari a chump?” Unfortunately, Mr. Crusader Cummings, the real real question should be, “Would you describe yourself as a gangster, Mr. Kashkari? Are you reprared to give us the names of the people who should be indicted…with you…for embezzlement?” “Is everything here kosher?” is another question you could have asked.
Mr. Cummings, when you have some spare time, Batman would like to use you.
November 15th, 2008 at 2:21 pmPeople who should have been arrested are getting millions handouts. What a shame! The Tax payers of the USA are been robbed and the thieves and crooks are getting away with it!
November 15th, 2008 at 2:30 pmThis is why reform is needed under a government that’s determined to live by progressive ideals. Indeed, government can be an ally (as it’s not inherently corrupt), but politicians that create the rules sully the system with their hand-outs to ignorant executives and mismanagement of taxpayer dollars.
There needs to be more accountability for these actions, in addition to more transparency concerning where taxpayers dollars are headed. There must be stricter rules for politicians that sacrifice the trust of the taxpayers by coddling with executives that scoff at the idea of order and progress.
November 16th, 2008 at 8:06 amIs this guy’s name really Kash -n- Kari, I mean really this is just too much!! And what a bunch of crap that people are homeless, and YET “$503 million to top executives” who probably all still have houses. This pisses me off so much I can hardly stand to read about it, because there doesn’t seem to be a thing we can to do in the way of justice!
November 16th, 2008 at 10:58 pm