Posted on 03/20/2009 11:28:03 AM PDT by Ernest_at_the_Beach
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.
This claim is not sitting well with Democrats.
“I’m sick and tired of hearing the administration and the Secretary of the Treasury say, ‘I just found out about it,’ ” Rep. Paul E. Kanjorski (D-Pa.) said yesterday.
The Washington Post points out that Obama’s Treasury Secretary’s in fact knew about the bonuses months ago.
AIG officials met with Geithner and then Treasury Secretary Henry M. Paulson Jr. in New York on Sept. 14 to warn them of the dire threat posed by the derivative business developed by AIG’s Financial Products unit. Executives told the two men the firm needed help but had at least a week before it faced collapse, sources said. Paulson left for Washington. But Geithner stayed up all night with officials at the New York Fed to examine AIG’s situation. He discovered not only an enormous number of complicated trades, estimated at $2 trillion, but that AIG had backed retirements funds across the nation. He also realized that a collapse of AIG was imminent, and that the fallout would ripple across the banking system, sources familiar with the episode said.
The Washington Post cites multiple sources including the corroboration from the Treasury Dept’s own PR people.
(Excerpt) Read more at floppingaces.net ...
Et tu, WaPo?
Circle your band of idiots Erkel!....
There are MULTIPLE sources to show that the Dems. are LYING....guess it was even too much for the Wa Post.
Should we really be surprised about this development?
To say nothing of the fact that Maxine Waters -0of al people- just said the president doesn’t seem to know what’s going on with the economy..
And the ‘outraged mobs’ are targeting the wrong peeps because they have been led like sheep by Zero and Co. Stupid idiots. The outrage should be at WASHINGTON! Not @ AIG.
How the Fed failed to tell Obama about bonuses (MSM covers for Obama after he's been outed)
If the Washington Pest is reporting this, Obama must be in real trouble. The Pest is as Liberal as they come.
Which demonstrates one of the main differences between the The Washington Post and the NYTimes. The other being their underpants.
(NYTimes: brown in back AND front)
The Washington Post just was to seem ‘fair and balanced’. You don’t actually think that the WAPO actually believes Zero’s Administration lied about AIG bonuses?
Why, precisely, is the Obama administration trying so hard to distance itself from this? Why are they willing to tell such easily-exposed lies -- which are now coming home to roost?
I can see Geithner lying to cover his rear end.... but Obama continues to cover for him.
It suggests to me that there's something bigger -- perhaps much bigger -- in play here, that has the Obama team running scared.
What's really interesting is that the Democrats in Congress are starting to pile on -- Kanjorski in this piece, and Maxine Waters (of all people) in a separate FR thread.
If we're seeing this stuff in public, I have to wonder if it implies something of what's happening behind the scenes?
What did he know and when did he know it???
FOX News Goes NUTS Over Fake Outrage from Democrats’ Congress re: AIG bonuses
There are multiple FR Threads on this...Shep had a good Rant....
Well of course he’s lying. The press knows it. They just can’t quite state it this way. Of course IF this were a Republican he would’ve been impeached by now.
Hillary said an president who lied to the people should be impeached. She was talking about Nixon. When her hubby lied she changed her mind. I doubt if she thinks Obie should be impeached for lying.
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And the Biggie is the :
bttt
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