AIG boss, and Obama, in firing line in Congress

AFP on Yahoo ^ | 3/18/09 | Jitendra Joshi

[NormsRevenge]

WASHINGTON (AFP) – AIG boss Edward Liddy was hauled over the coals Wednesday by US lawmakers furious about staggering bonuses paid by the bailed-out insurer, but Republicans had a bigger target for attack: President Barack Obama.

Liddy said he had no legal choice over paying out the "distasteful" bonuses of 165 million dollars, but vowed that American International Group was learning from its mistakes after it was saved from bankruptcy last September.

"Mistakes were made at AIG on a scale few could have ever imagined possible," the government-appointed CEO was to tell a packed hearing of the House subcommittee on capital markets, according to his prepared remarks.

"We are meeting today at a high point of public anger. I share that anger," he said, as Obama vies to navigate the worst political storm of his young presidency just as his administration readies new bailout funds for banks.

Subcommittee chairman Paul Kanjorski, a Democrat, said Treasury Secretary Timothy Geithner and Federal Reserve chairman Ben Bernanke would appear before the full financial services committee next Tuesday on the AIG mess.

"They are now the overseers of AIG, and we need to hear from them directly and publicly," he said.

[jennyjenny]

I just watched scary man Obama on the TV. He’s gonna decide how much people get to make.

[jessduntno]

“This is what a political economy looks like, and it’s a very dangerous place to be,” fumed Republican Tom Price.

TEA PARTY, Tom????

[william clark]

Obama just took a few questions from reporters before flying off for his Tonight Show gig in LA. One reporter asked him about the $100,000 campaign contribution he received from AIG, but made the mistake of also throwing in a reference to a congressman’s call for Geithner’s resignation. This gave Obama the ability to spend a couple of minutes praising Geithner and completely dodge the issue of AIG’s campaign contribution.

[SoldierDad]

Blah blah blah; blah blah blah blah blah; blah blah, blah blah blah . . . etc etc etc.

Then they all adjourn for the day and go to their posh lifestyles all provided for on the backs of the American Taxpayer. Anyone else pissed off about all this?

[Cowboy Bob]

I just watched scary man Obama on the TV.

And a reporter asked Obama about his $100,000 in campaign money from AIG. Obama ignored the question!

[VeniVidiVici]

Has anyone in the MSM mentioned Dodd’s hand in these bonuses to begin with? This article is yet another that mentions nothing about it.

[Yosemitest]

Democrats know how to treat their friends. With friends like these, who needs enemies?

Posted by listenhillary on another thread.

[maggief]

http://www.businessinsider.com/henry-blodget-goldman-sachs-wins-big-in-secret-bailout-via-aig-2009-3

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AIG Counterparties

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Analysis By:

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The Business Insider

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Total Bailout Via AIG Collateral Maiden Lane Securities Lending

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Goldman Sachs $12.90 billion 2.5 5.6 4.8

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Soc Gen $11.90 billion 4.1 6.9 0.9

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Deutsche Bank $11.80 billion 2.6 2.8 6.4

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Barclays $8.50 billion 0.9 0.6 7

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Merrill Lynch $6.80 billion 1.8 3.1 1.9

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Bank of America $5.20 billion 0.2 0.5 4.5

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UBS $5.00 billion 0.8 2.5 1.7

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BNP Paribas $4.90 billion 0 0 4.9

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HSBC $3.50 billion 0.2 3.3

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Calyon $2.30 billion 1.1 1.2

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Citigroup $2.30 billion 0 0 2.3

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Dresdner $2.20 billion 0 0 2.2

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DZ Bank $1.70 billion 0.7 1

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Wachovia $1.50 billion 0.7 0.8

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ING $1.50 billion 0 0 1.5

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Morgan Stanley $1.20 billion 0.2 1

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Bank of Montreal $1.10 billion 0.2 0.9

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Rabobank $0.80 billion 0.5 0.3

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Royal Bank of Scotland $0.70 billion 0.2 0.5

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AIG Int’l $0.60 billion 0 0 0.6

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KFW $0.50 billion 0.5

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JP Morgan $0.40 billion 0.4

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Credit Suisse $0.40 billion 0 0 0.4

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Santander $0.30 billion 0.3

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Paloma $0.20 billion 0 0 0.2

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Citadel $0.20 billion 0 0 0.2

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Danske $0.20 billion 0.2

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Reconstruction Finance Corp $0.20 billion 0.2

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TOP 18.3 26.7

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Other $4.60 billion 4.1 0.5

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TOTAL $93.40 billion 22.4 27.2 43.8

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Analysis By:

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The Business Insider

[NormsRevenge]

93 Billion? Is that all?

Yowzah & Ka-Ching!!! That's a big chunk of bail-out 'change'!!!

The Beltway Bank Corporation .. "Doling out your tax dollars so big banks&politocos can co-prosper... a purely Dem inspired and conspired move for the future of this country

[Texas Songwriter]

Remember,

While AIG and Derivitive Exposure Loomed, the Democrat Congress Held Hearings on Baseball Players using Legal Anabolic Steriods

Majoring on the minors