Maybe he will clear it all up tonight....... /s
Posted on 03/19/2009 5:25:24 AM PDT by kellynla
American taxpayers are in a justifiable rage over news that executives of insurance giant American International Group (AIG), which has received $180 billion in federal bailout money since October 2008, gave themselves $165 million in bonuses they obviously do not deserve. Now, President Obama and Timothy Geithner, his Treasury Secretary are attempting to score cheap political points by condemning the AIG bonuses and promising to sue for the money’s return. This is political hypocrisy at its worst. Obama should stop blaming George W. Bush and take a cue from another former White House occupant, fellow Democrat, Harry S. Truman, whose famous declaration that “The buck stops here” set the gold standard for presidential accountability. The AIG bucks stop right at the desks of Obama and Geithner.
Let’s review the facts: Geithner, as New York Federal Reserve Board head under Bush, was the chief architect of Toxic Asset Relief Program (TARP) bailout, which funded the bonuses that now have taxpayers seeing red. It was Obama who put Geithner at Treasury despite the latter’s failure to pay federal taxes four consecutive years. And it was Obama who promised that Geithner would present a detailed plan for completing the TARP clean-up he started during the Bush administration. So it is hypocritical in the extreme for Obama and Geithner to now pose as if they didn’t know AIG was going to be using TARP funds to pay the bonuses. Just two weeks ago, White House press secretary Robert Gibbs said Obama and Geithner were “confident” they knew how TARP money was being spent.
After saying they would try to block the bonuses, administration officials then said they would instead apply more stringent rules to the next $30 billion round of bailout funding.
(Excerpt) Read more at dcexaminer.com ...
One —is one too many.
He needs to go now . Impeach this incompetent screw up.
He is serving illegally in the first place.
Maybe he will clear it all up tonight....... /s
"Nobody here was responsible for supervising AIG. We are responsible though, the buck stops with me…”Only drooling idiots can support doublespeak like this, yet the soundbytes pass unnoticed.
I believe that a LOT of the money given to AIG is heading for Fannie and Freddie.....BOTH of their stock prices MORE than DOUBLED yesterday, starting at 11am.......side-by-side, the charts are identical......RUSH is RIGHT!
RUSH: RUSH: The lynch mob is expanding. The peasants with their pitchforks are surrounding the corporate headquarters of AIG, demanding heads. Death threats are pouring in. All of this is being ginned up by the Obama administration. Remember, ladies and gentlemen: AIG disclosed its retention payment program more than a year ago, and the amount of the bonuses has been widely reported. None of this that you started hearing about over the weekend is in any way new. It caught no one by surprise. What happened was that the payments of these bonuses are coming due very soon, in recent days, and the White House needed another diversion from Obama’s plummeting poll numbers. His approval numbers are plummeting. He needed another diversion from what his real plans are, to grow this government and spend us into oblivion and debt. He needed another diversion, hence this populist assault on the people at AIG receiving these retention bonuses.
Everybody knew. Folks, we’re being played for suckers. You’re being played like Stradivariuses. Everybody involved, including the people who engineered the bailout, knew this was going to happen, and the very people who engineered it — and you know who oversaw this? Timothy Geithner, when he ran the New York Federal Reserve. He was the guy largely responsible for devising individual bailout plans for individual banks. They all knew this was coming! They just timed it for this weekend as a distraction, and then they could sit around and act outraged and surprised and shocked — and then, further, they try to slough this off on Bush. But this isn’t Bush. Obama owns this bailout, folks. He owns the Porkulus bill. He owns it all, and the approval numbers in three different polls show his numbers are beginning to fall. It’s getting so ridiculous, that yesterday on radio station WMT in Cedar Rapids, we had Iowa’s Senator Chuck Grassley.
___165,000,000 Contractual Obligations/Retention Bonus
All the hoopla is about 1 dollar out of every 1000 of taxpayer money given AIG.
One of the reasons for the hoopla is that Obama and Dodd got large donations from AIG then they sneak in the amendment to let them keep the Bonuses.
Now connect the dots on where all that 180 Billion went and see if Donations made their way from those firms to Obama and Dodd and Frank and others.
Quid Pro Quo is an idea everyone can understand!
Geithner was responsible for making this deal and now he & others who were aware of the bonuses want to express “outrage”...that “dog won't hunt!”
He is no Truman. Not even close.
Great. So I think anyone involved in permitting these bonuses to go through should resign: every Congresscritter who voted for it, and every President who signed the bill into law.
Campaign Donations <—> Legislative Perks <—> Campaign Donations
In case anyone is interested. One of the banks that AIG bailed out is Societe Generale in France. George Soros owns it.
How 'bout the names of foreign banks and other institutes that got US taxpayer funds directly from the Obamah administration or through AIG!
Wow thank you for that I didn’t know that!
George Soros owns Societe Generale Bank in France?? Are you POSITIVE??? And that bank gour OUR BILLIONS???? hmmmmm....HELLO REPORTERS!!!!
Obama and his Nerd Herd are CHILDREN, voted in by Bigger Children.
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