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How the Fed failed to tell Obama about bonuses (MSM covers for Obama after he's been outed)
msnbc ^ | 3/19/2009 | David Cho and Michael D. Shear

Posted on 03/19/2009 4:35:22 AM PDT by tobyhill

Federal Reserve officials knew for months about bonuses at American International Group but failed to tell the Obama administration, according to government and company officials, exposing problems in a relationship that is vital to addressing the financial crisis.

As pressure mounted on AIG employees to return the bonuses, new details emerged yesterday about what the Fed, the Treasury Department and the White House knew regarding the payments and when. AIG executives said the Fed was informed three months ago by the company that it would pay $165 million by March 15 to employees working at its most troubled division. The Treasury and White House said they learned of the payments from Fed officials only days before they were due.

Close coordination between the Fed and the administration is now more important than ever as they near the launch of two signature programs to rescue the financial system, which together could reach $2 trillion and are aimed at reviving consumer lending and purchasing soured assets and loans from ailing banks.

(Excerpt) Read more at msnbc.msn.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS: aig; bailout; bho44; obama
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To: Mad Dawgg

http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=n00000581

Christopher J. Dodd (D)
Top Contributors

This table lists the top donors to this candidate in the 2008 election cycle. The organizations themselves did not donate , rather the money came from the organization’s PAC, its individual members or employees or owners, and those individuals’ immediate families. Organization totals include subsidiaries and affiliates.

SAC Capital Partners $238,300
Citigroup Inc $157,194
Royal Bank of Scotland $142,600
United Technologies $138,950
Bear Stearns $118,550
Goldman Sachs $105,400
Travelers Companies $98,900
American International Group $98,100
The Hartford $92,250
JPMorgan Chase & Co $72,250
Ernst & Young $70,750
Merrill Lynch $68,300
Morgan Stanley $67,100
General Electric $60,850
KPMG LLP $59,900
PricewaterhouseCoopers $59,800
Apollo Advisors $57,900
Credit Suisse Group $55,300
UBS AG $54,200
UST Inc $53,500


21 posted on 03/19/2009 5:00:49 AM PDT by maggief
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To: tobyhill
” To the MSM the number of days is their way of sugarcoating when Obama really knew, 2 months ago.”
The whole thing is a smoke screen to keep attention focused on the right hand. What they are doing in the mean time will make 165 billion seem like small change, let alone the paltry millions in bonuses they are squawking about.
22 posted on 03/19/2009 5:01:12 AM PDT by bitterohiogunclinger (America held hostage - day 156)
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To: maggief

http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638

Barack Obama (D)
Top Contributors

This table lists the top donors to this candidate in the 2008 election cycle. The organizations themselves did not donate , rather the money came from the organization’s PAC, its individual members or employees or owners, and those individuals’ immediate families. Organization totals include subsidiaries and affiliates.

University of California $1,385,675
Goldman Sachs $980,945
Microsoft Corp $806,299
Harvard University $793,460
Google Inc $790,564
Citigroup Inc $657,268
JPMorgan Chase & Co $650,758
Stanford University $580,904
Sidley Austin LLP $574,938
Time Warner $547,951
National Amusements Inc $541,251
WilmerHale $524,292
UBS AG $522,019
IBM Corp $518,557
Skadden, Arps et al $510,274
Columbia University $503,566
Morgan Stanley $490,873
US Government $479,956
General Electric $479,454
Latham & Watkins $467,311

..

OT: General Electric $479,454 (NBC - Leno?)


23 posted on 03/19/2009 5:03:04 AM PDT by maggief
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To: tobyhill

What's cheaper than flying twin 747's around to talk shows

24 posted on 03/19/2009 5:04:32 AM PDT by BigLittle
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To: Mad Dawgg

Not to them directly, to somebody’s cousin’s consulting firm


25 posted on 03/19/2009 5:04:35 AM PDT by 1000 silverlings (Everything that deceives also enchants: Plato)
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To: HoosierHawk
What did the teleprompter know and when did it know it? And did it tell Obama?

TOTUS knew enough to have Chris Dodd inject into the Porkulus bill a statement allowing the AIG bonuses to be paid.

26 posted on 03/19/2009 5:04:43 AM PDT by lonestar (Obama has turned a crisis into a catastrophe.)
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To: bitterohiogunclinger
I know it's a smokescreen but it's one that won't work. This is only making it tougher for Obama to pass anymore “bailouts” or “stimulus bills”.
27 posted on 03/19/2009 5:05:21 AM PDT by tobyhill ("Hope and Change" is so overrated!)
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To: tobyhill

This makes no sense at all. Since when is the Fed controlling/monitoring the disbursement of funds by the Treasury Dept/WH/Congress?

I’m not buying it....

hh


28 posted on 03/19/2009 5:07:25 AM PDT by hoosier hick (Gotta go, millions of Obama supporters are counting on me to pay their mortgages)
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To: maggief
Awesome INFO!!!!!

We need to get this to GLenn BEck!

Anyone know how to get it there fast so he will see it?

29 posted on 03/19/2009 5:07:44 AM PDT by Mad Dawgg ("`Eddies,' said Ford, `in the space-time continuum.' `Ah,' nodded Arthur, `is he? Is he?'")
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To: tobyhill
BARF ALERT!

“I know Washington is all in a tizzy and everybody is pointing fingers at each other and saying, ‘It's their fault, the Democrats’ fault, the Republicans’ fault,’ ” Obama said. “Listen, I'll take responsibility; I'm the president. We didn't grant these contracts, and we've got a lot on our plate, but it is appropriate, when you're in charge, to make sure that stuff doesn't happen like this.”

http://www3.signonsandiego.com/stories/2009/mar/19/1n19obama232357-obama-first-visit-calif-president/?zIndex=69353

30 posted on 03/19/2009 5:11:23 AM PDT by maggief
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To: tobyhill

Hey Obama, didn’t you read this stuff line-by-line?


31 posted on 03/19/2009 5:14:21 AM PDT by agere_contra (So ... where's the birth certificate?)
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To: maggief
I am watching the Beck Video that shows the AIG money being Distributed.

AIG gave money to each of these:

Goldman Sachs 13 Billion
Merrill Lynch 7 Billion
Bank of America 5 Billion

Interesting, those names apprea on your donors list. Iam sure its just a coincidence.

We all believe that right? Here is the video: Glenn Beck Explaining the AIG payouts

32 posted on 03/19/2009 5:16:03 AM PDT by Mad Dawgg ("`Eddies,' said Ford, `in the space-time continuum.' `Ah,' nodded Arthur, `is he? Is he?'")
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To: Mad Dawgg

Also note foreign banks.


33 posted on 03/19/2009 5:20:04 AM PDT by maggief
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To: tobyhill

Now now now. No one would accept this as any reasonable excuse (even though I don’t buy it in the first place) for Bush. It would have been all “On his watch, he is responsible for his employees, yada yada yada”.


34 posted on 03/19/2009 5:27:03 AM PDT by autumnraine (Freedom's just another word for nothing left to lose- Kris Kristoferrson VIVA LA REVOLUTION!)
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To: tobyhill

Obama and his Administration of Marxists are a miserable failure.


35 posted on 03/19/2009 5:29:36 AM PDT by alice_in_bubbaland (Markets and Marxists Don't Mix! Let the Revolution Commence!!!)
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To: Mad Dawgg

Don’t forget France, Germany & England.


36 posted on 03/19/2009 5:30:24 AM PDT by alice_in_bubbaland (Markets and Marxists Don't Mix! Let the Revolution Commence!!!)
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To: tobyhill

Obama, “I voted *present* that day, Damnit”


37 posted on 03/19/2009 5:31:04 AM PDT by wolfcreek (There is no 2 party system only arrogant Pols and their handlers)
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To: tobyhill
Bullsh*t, it was Obama adm that put amendment in bill and voted for it and signed it.
38 posted on 03/19/2009 5:35:51 AM PDT by TornadoAlley3 (Obama is everything Oklahoma is not.)
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To: tobyhill

Too late! The feckless Dodd said yesterday that the White House reinserted the bonuses into the bill after they had been cut.


39 posted on 03/19/2009 5:54:33 AM PDT by pabianice
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To: tobyhill
If an unbiased, nonpartisan investigation were done on this bonus scandal, here's what I believe they would find:

Some of the people receiving these bonuses (BRs) have been contributing to Dodd, Obama, & other influential Rats (& Pubs, too, by the way). When the BRs found out they might lose their bonuses, they called the above named pols & complained, “Gee, w/o that bonus, my political contributions are gonna go way down - maybe zero. Can't you help me out here?”

So, to keep the money flowing in their direction, Dodd, Obama, & co. remove wording that prohibited the bonuses, & inserted wording specifically allowing the bonuses.

It was pure political cronyism! They should all resign or commit suicide!

40 posted on 03/19/2009 5:55:37 AM PDT by Mister Da (The mark of a wise man is not what he knows, but what he knows he doesn't know!)
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