Friday, March 20, 2009
Obama And Congress Knew About
AIG Bonuses For Months!
For months, the Obama administration and members of Congress have known that insurance giant AIG was getting ready to pay huge bonuses while living off government bailouts. It wasn't until the money was flowing and news was trickling out to the public that official Washington rose up in anger and vowed to yank the money back.
Why the sudden furor, just weeks after Barack Obama's team paid out $30 billion in additional aid to the company? So far, the administration has been unable to match its actions to Obama's tough rhetoric on executive compensation. And Congress has been unable or unwilling to restrict bonuses for bailout recipients, despite some lawmakers' repeated efforts to do so.
The situation has the White House and Treasury Secretary Timothy Geithner on the defensive. The administration was caught off guard Tuesday trying to explain why Geithner had waited until last Wednesday to call AIG chief executive Edward M. Liddy and demand that the bonus payments be restructured.
The bonus problem wasn't new, as many lawmakers and administration officials knew only too well. AIG's plans to pay hundreds of millions of dollars were publicized last fall, when Congress started asking questions about expensive junkets the company had sponsored. A November SEC filing by the company details more than $469 million in "retention payments" to keep prized employees.
"It's shocking," said Sen. Mitch McConnell, R-Ky., the minority leader, that "the administration would come to us now and act surprised."
On a side note... you're still getting those "spam" links. I created a link myself to this post and here's what I found.
Links to this post:
I am French Canadian, I am Tym Machine! Je suis canadien-français ...
I accepted a new teacher job for next week so wish me the best and we'll keep in touch I hope two or three times a month. If something in the news strikes me. Blogging is great for me. I'd do it 100% of the time. ...
posted by Tym_Machine @ 9:01 PM, March 19, 2009
Seems that someone is just automatically linking to you just for the heck of it. In order to see it, you have to open up this post by it's self and allow the system to refresh and then... there it is. :)
I think everything concerning Pbama and his Cultists is rehearsed.
Those aren't spams. I think they are trackbacks - or links - automatically generated by blogs when they link. I know Tym Machine. He's a fine blogger. He must have linked to me.
I agree that everything seems rehearsed other than those moments when they are totally taken off guard... like when Charlie told the guy to mind his own goddamned business. Although... maybe he really thought people would get a kick out of him telling someone off.
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