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2009-03-18 Home Front Economy

Treasury to rework AIG aid to recoup bonuses

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Posted by Fred 2009-03-18 00:00|| || Front Page|| [11133 views ] Top

#1 The republican party could easily step in with a lawsuit stopping the treasury department from doing this until congress passes the legislation necessary to stop bonus payouts.

They wouldn't let a sitting republican president change legislation like this.

Posted by badanov 2009-03-18 00:12|| http://www.freefirezone.org]">[http://www.freefirezone.org] 2009-03-18 00:12|| Front Page Top

#2 This outrage is all so phony. Geithner had full knowledge of this from the time he was Governor of the New York Fed. Dodd ensured that the agreements were effective [see the article I just posted on this point]. Obama says he just found out about this on Thursday.

In any normal corporation heads would roll. Geithner would be gone for not bringing it up earlier. Dodd would be complicit in the whole process and canned. And the Head of the organization would resign out of shame and common decency because that is where the buck stops.

Any chance of any common decency here? Maybe Geithner? If so, there won't be anyone at Treasury to empty the trash can or open the door in the morning - to say nothing of answering the phone.

Remember Hilary's ad - who do you want to answer the phone at 3 in the morning? Answer - somebody, anybody because there's no one there at the moment. This is such a joke.

Posted by Omoter Speaking for Boskone7794 2009-03-18 01:09|| 2009-03-18 01:09|| Front Page Top

#3 Obama, a lawyer, is "choked up with anger" over a company fulfilling its legal obligations. Give me a break.

BTW, these kinds of delayed bonuses as retention payments are very common.

Posted by phil_b 2009-03-18 03:13|| 2009-03-18 03:13|| Front Page Top

#4 WaPo has an article about how this kind of populist posturing is dooming any prospect of saving AIG.

Posted by phil_b 2009-03-18 03:26|| 2009-03-18 03:26|| Front Page Top

#5 What's needed is an exit strategy for bailouts. No more bailouts, no more problems and embarrassments like this.
All that's needed is for the Donks to suppress their natural reflex to tax and spend.

Posted by tipper 2009-03-18 05:00|| 2009-03-18 05:00|| Front Page Top

#6 #5 What's needed is an exit strategy ~~for bailouts~~

Washington politicians!

Posted by Besoeker 2009-03-18 07:50|| 2009-03-18 07:50|| Front Page Top

#7 Better yet, save the $30 billion and another $30 billion each and every month. Wave bye-bye to AIG and let the claimants fight over the carcass. Private deals, private risk.

Kiss the $150 billion of taxpayer money already flushed in the greatest swindle every perpetrated. It makes Bernie Madoff seem like the neighborhood numbers runner. May the taxpayer learn something from all this: to keep their hard earned money close and out of reach of the corrupt political class.

Posted by ed 2009-03-18 08:33|| 2009-03-18 08:33|| Front Page Top

#8 Statute explicitly permits the AIG bonuses

If Treasury does something that obviates statute per administrative regulation, they could be sued and would probably lose quickly and perhaps even made to pay court costs.

Posted by mhw 2009-03-18 09:12|| 2009-03-18 09:12|| Front Page Top

#9 Opensecrets.org is a bit flooded at this time, but I recall that Obama was one of or the top recipient of AIG money. All this outrage is a bunch of posturing. The problem is that AIG was a big funnel for covering a bunch of others with toxic assets. We taxpayers have funded $180 billion literally down this rathole. And now the cat is out of the bag.

The Big O is full of it. Choked with anger my a$$. The problem is not AIG. The problem is the President and the Congress. NOTHING is going to happen until these people are thrown out of office.

Posted by Alaska Paul 2009-03-18 14:50|| 2009-03-18 14:50|| Front Page Top

#10 Fancy footwork and lots of bullshit.

Posted by mojo 2009-03-18 15:15|| 2009-03-18 15:15|| Front Page Top

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