Geithner: New bank fee would recoup AIG bonuses

AP on Yahoo ^ | 2/3/10 | AP

[NormsRevenge]

WASHINGTON (AP) -- Treasury Secretary Tim Geithner (GYT'-nur) says Congress can recoup "outrageous" bonuses for AIG employees through a new bank fee in President Barack Obama's proposed budget.

American International Group Inc. is set to pay out about $100 million in a fresh round of bonuses to employees. Geithner called the bonuses, which were negotiated years ago, an "outrageous failure of policy."

[Liz]

Geithner has to be one of the more incompetent Treasury Secretaries and ex-Fed members in recent decades.

As Confuscious say: "Tis better to cultivate an image as a complete ignoramus than to face felony charges for 1st-degree tampering with public records, 1st-degree offering of a false instrument for filing, 4th-degree grand larceny, 1st-degree falsifying of official records, government fraud, collusion, establishing a slush fund for WH insiders, stealing govt money for campaigns of engangered Dems, money-laundering, tax evasion (stolen money is taxable)........which would result in substantial time in a federal lockup without possibility of parole."