Taxpayer-Supported Bankrupt Solyndra Seeking To Pay Bonuses
Last year, the Solyndra corporation filed for bankruptcy after receiving millionsof taxpayer dollars to support their solar energy business. Now, two dozen employees are in line to recieve incentive bonuses ranging from $10,000 to $50,000. Bankruptcy attorneys say the extra money will add motivation at a time when workers at the solar company have little job security and more responsibilities because so many of their colleagues have been fired. The court filing does not list the names of the individuals who would receive the proposed bonuses.
I am just wondering if President Obama and Congress are going to go after these employees much like they did when bunkrupt AIG employees received bonuses? I wonder if the unions are going to seek out each person, publish their address and other personal information, and picket and riot outside of the employees’ homes? One would think if the President, Congress and the unions are always operating on principle and not on politics, we should expect this to happen the moment those bonuses are paid.
President Barack Obama said, “[I]t’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay. How do they justify this outrage to the taxpayers who are keeping the company afloat?” and “In the last six months, AIG has received substantial sums from the U.S. Treasury. I’ve asked Secretary Geithner to use that leverage and pursue every legal avenue to block these bonuses and make the American taxpayers whole.”
Senator Chuck Grassley (Republican, Iowa) said “I would suggest the first thing that would make me feel a little bit better toward them if they’d follow the Japanese example and come before the American people and take that deep bow and say, I’m sorry, and then either do one of two things: resign or go commit suicide.”
Senator Chuck Schumer (Democrat, New York) accused AIG of “Alice in Wonderland business practices” and said “It boggles the mind.” He has threatened to tax the bonuses at up to 100%.
We’ll see. I’m not holding my breath.