Pres Obama is angry about the AIG bonuses.
I am mad, too.
However, what's the story behind the AIG bonuses? Could it be that the Obama administration messed this one up? Did Sec Geithner know?
"Despite this administration's reflexive instinct to talk about the problems it inherited, the fourth round of AIG's government assistance — an additional $30 billion — was approved March 2.
Why couldn't someone at Treasury* have made that assistance contingent on not handing out additional bonuses to managers who put the company in this hole?
* I suppose it might help to have someone besides Tim Geithner working at the Treasury Department, to help manage issues like these . . ."
We need a better explanation from the Obama Administration.
Michael D. Shear and Paul Kane wrote today that the Obama Administration can't do a darn thing abut these bonuses.
1 comment:
I believe the bonus payout excesses at AIG are just the tip of the iceberg of what is happening with the other Wall Street bailouts including Bank of America. Working productive Americans are bailing out the same crooks that destroyed our economy along with 45% of the wealth in the world. Now the American taxpayers and our posterity will be forced to live a far lower standard of living with reduced prosperity and opportunities due to the accumulated national debt to fund the bailouts and once again we will pay the price.
Washington has bailed out the banks, Wall Street & their Washington special interests and much of the cost is added to the national debt to by paid by this and future generations while real estate and investments continue to fall. I believe Washington plans to monetize the debt in future years while they tax and destroy our remaining wealth by depreciating the dollar.
To stop this wealth attack, the Campaign to Cancel the Washington National Debt By 12/21/2012 Constitutional Amendment is beginning now in the U.S. See: http://www.facebook.com/group.php?gid=67594690498&ref=ts
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