Outraged in wrong direction.

Just so we’re all clear. We’ve got a bunch of Congressmen and administration officials who brokered these bailout deals with the financial community, were aware of and approved of retention bonuses, then once the deals came to the public light have the gall to act outraged.

If you haven’t yet read the open resignation letter by AIG executive vice president Jake DeSantis to CEO Edward Liddy, make sure you do. DeSantis is right: The people who need to be punished are long gone from AIG’s ranks. It’s people like DeSantis who were asked to salvage the company, for a salary of just $1 and a retention bonus, which our politicians knew about but now want to tax at 90%. Any outrage should be aimed at Congress, for starters.

• Now guys like our TAX CHEATING Treasury Secretary Tim Geithner want to use this government-made “crisis” to expand their power to heights not seen since the Politburo.
• Senate Banking Committee Chair Chris Dodd, was, to borrow from Michelle Malkin, “For AIG bonuses before he was against them.“
• Worse, Barack Obama’s Chief of Staff, Rahm Emanuel, “made at least $320,000 for a 14-month stint at Freddie Mac that required little effort.” Where’s the outrage of his bonus for this monstrosity?
• Freddie Mac and Fannie Mae were the first domino to fall in this credit crisis. The fox is running the henhouse. The head of the Senate Finance Committee, Barney Frank, perennially blocked all attempts to reform Fannie/Freddie.

Were these all right-wing names one can bet the conspiracy theorists would no doubt be successfully arguing that government created this crisis to expand its power.

Here’s Mark Levin:

“Now we have a guy that couldn’t remember to pay his social security taxes, couldn’t remember to pay his Medicare taxes, even though he was subsidized to pay them, told to pay them,” Levin said. “He’s smarter than everybody else in all these industries, and now we have another czar.”

The appointing of czars, he said, has been a trend according to that doesn’t comply with the powers set forth in the founding document,

“We have an administration full of czars, full of people who don’t comply with the constitution. The question today is, ‘What is your authority, Mr. Secretary, to do this?’” Levin said. “I would like to know what’s the president’s authority to do this?”

The Obama administration and its proponents say that a lack of government involvement in financial sector is what caused the current woes of the economy, specifically the banking system. Levin insisted it was just the opposite – that the banking system was never a “free market” and that’s how it got to this point.

“The problem is, we didn’t have a free market in the banking system,” he explained. “The banking system is the most regulated system next to the automobile industry. So there is no free market in the banking system. It is heavily regulated. We know about all these toxic loans thanks to Uncle Sam – pushing them as fast as they could, bundling them, encouraging the free market to respond with all kinds of packages and then they pretend it’s something wrong with the free market.”

Levin labeled advocates of the Obama agenda as “statist,” explaining that it is part of their desire to control every aspect of certain segments of the U.S. economy.

“That’s the way the statist operates and that’s what I explain here,” Levin said. “There are no limits on our government today. They’ve close to nationalize the automobile industry. Frankly, they basically nationalized the steel industry. They control the labor unions in giving them the authority that they give them. They control the products that are produced. They control what comes out of the chimney. They control what goes into the chimney. Now they want to control executive pay and they’re not going to limit it to bailed out companies.”