Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month

[Renae]

Sources in the Obama administration Tuesday said that despite previous media reports administration officials did not know until a couple weeks ago that the officials of the controversial AIG Financial Product Division were set to receive $165 million in bonuses on March 13.

It was just this month, administration sources told ABC News, that officials of the New York Federal Reserve Bank -- after studying AIG's more than 100 compensation policies for more than 116,000 employees throughout the world -- informed the Treasury Department of the $165 million in bonuses pending for the controversial Financial Products Subsidiary.

Political Punch: Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month

Does anyone believe this? If you do, do you admit that Obama's administration is proving to be highly incompetent? Chris Dodd added an amendment last YEAR to PROTECT these payouts. They full well knew, how stupid is the American Public?

If they believe this? Very much so.

 

[Joby]

Yeah, the American people are pretty ****ing stupid.

 

[TheNextEra]

Yeah, the American people are pretty ****ing stupid.

Well of course many are stupid, some voted for Bush twice, what did you expect?

 

[cascadian]

Political Punch: Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month

Does anyone believe this? If you do, do you admit that Obama's administration is proving to be highly incompetent?

I'm not sure if I disbelieve this yet. Can you spell out why this is supposed to make them incompetent?

Chris Dodd added an amendment last YEAR to PROTECT these payouts. They full well knew, how stupid is the American Public?

Actually that amendment was inserted to restrict payouts, the fact that the amendment's restrictions didn't apply to these payouts was a not a protection.

It is interesting what is happening with Dodd since AIG was a large donor for him, but could you spell out what the link is with the Obama admin?

 

[Erod]

Bull effing crap!

 

[TheNextEra]

Does anyone believe this? If you do, do you admit that Obama's administration is proving to be highly incompetent?

To be honest, I think you mean it the other way. If I may..... I think you meant "If someone DOESN'T believe this, then do you admit the Obama's administration is proving to be highly incompetent?"

The answer to this from me is No, I don't believe it, and yes I believe the Obama administration is incompetent in this area.

Obama should have never done bailouts IMO the way they were done.

It was quite clear that the way the companies were running things were wrong, so why give them money to run things in the same way?

I have yet to see a presidency 100% competent, but I am sorry to see Obama's administration failing in this regard.

 

[WillRockwell]

You supported the Bush administration for eight years yet you want to judge the new administration incompetent after 6 weeks? What took you so long?

 

[Renae]

You supported the Bush administration for eight years yet you want to judge the new administration incompetent after 6 weeks? What took you so long?

One admin had moments of stupidity surrounded by periods of good to great performance. One has been a non-stop disaster from the word go.

 

[TheNextEra]

You supported the Bush administration for eight years yet you want to judge the new administration incompetent after 6 weeks? What took you so long?

As I pointed out in other threads, Bush did things that were irresponsible, but that doesn't excuse Obama's administration being irresponsible.

There are definitely partisan hypocrites that supported Bush's responsibilities, but that doesn't excuse Obama's administration for theirs.

 

[TheNextEra]

One admin had moments of stupidity surrounded by periods of good to great performance.

No offense but that is your opinion. After going in Afghanistan, Bush has none IMO. That doesn't excuse Obama's though.

 

[Renae]

No offense but that is your opinion. After going in Afghanistan, Bush has none IMO. That doesn't excuse Obama's though.

I didn't mean to imply it was fact, merely opinion. I love Will's sig picture, speaking of hyperpartisan...

Oh, speaking of incompetent...

WASHINGTON (AP) - Guaranteeing health insurance for all Americans may cost about $1.5 trillion over the next decade, health experts say. That's more than double the $634 billion 'down payment' President Barack Obama set aside for health reform in his budget, raising the prospect of sticker shock at a time of record federal spending. Administration officials have pointedly avoided providing a ballpark estimate, saying it depends on details to be worked out with Congress.

My Way News - Health care overhaul may cost about $1.5 trillion

 

[Moon]

As I pointed out in other threads, Bush did things that were irresponsible, but that doesn't excuse Obama's administration being irresponsible.

There are definitely partisan hypocrites that supported Bush's responsibilities, but that doesn't excuse Obama's administration for theirs.

Well said.

 

[TheNextEra]

I didn't mean to imply it was fact, merely opinion. I love Will's sig picture, speaking of hyperpartisan...

No problem thanks for clarifying that.

Oh, speaking of incompetent...


My Way News - Health care overhaul may cost about $1.5 trillion

Again, I am not against UHC, but I am against it being implemented right now. In defense the figures from your source use the magic word "MAY".

That to me, means the figures could be purely partisan. Don't get me wrong, ANY figure to me at this point and time is too much given the econmy, but beware of using partisan sources for assumptions on "May" is all I say.

 

[Renae]

No problem thanks for clarifying that.




Again, I am not against UHC, but I am against it being implemented right now. In defense the figures from your source use the magic word "MAY".

That to me, means the figures could be purely partisan. Don't get me wrong, ANY figure to me at this point and time is too much given the econmy, but beware of using partisan sources for assumptions on "May" is all I say.

Well, as we all know, very few government projects ever come under budget, even the hyper-partisan scare budgets oft' fail to reflect the actual end costs... regardless whose side it's on.

 

[TheNextEra]

Well, as we all know, very few government projects ever come under budget, even the hyper-partisan scare budgets oft' fail to reflect the actual end costs... regardless whose side it's on.

I won't deny that, but you have to admit figures often "inflate" themselves under partisan sources.

I'm not saying it won't happen, just saying that often times people against a measure will inflate the costs.

That being said I am against it right now simply because we can't afford it.

I can understand the stimulus bill, and I will reserve final judgment of whether it is good or bad, but I think even that is going to bad IMO.

Obama's fault IMO is doing too much too fast.

 

[jujuman13]

Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month
Link to this story
Political Punch: Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month

Quote from article
(Treasury Secretary Tim Geithner was alerted last Tuesday, March 10; he phoned AIG CEO Edward Liddy on Wednesday evening, March 11, to protest the bonuses, sources told ABC News.

On Thursday, March 12, Secretary Geithner informed a senior White House official about the controversy, aides passed the information on to President Obama later in the day.)

OK I can accept the above.

Quote from article
(How the Obama administration was caught flat-footed by this controversy dates back to last Fall, when the New York Federal Reserve Bank -- then run by Geithner -- stepped in to give AIG a high-interest loan for $85 billion to help prevent the company from going under -- which Lehman Brothers was doing at the time. As part of the deal, AIG CEO Robert Willumstad was replaced by the new CEO, Liddy.)


Are they talking about the same Geithner or is this an entirely different person?
The reason I ask is because of the fact that one Geithner is saying something on March 10 , 2009 while another Geithner was in charge of the NY Federal Reserve in 2008 which gave AIG initial loan.
Now if they are the same person? well I think you all will get my drift.

IMHO I think the American Public are being taken for a bunch of idiots, something else is going down.
Obama has something up his sleeve that he does not want us to know................at least yet?

 

[Triad]

They knew full well.

Whats going on IMO is the Obama has gotten in trouble with the people in general over all this spending. They needed something to move attention.

Up springs this AIG stuff and it sets people off even more...its also an easy out at least in the short term.

Obama comes out feigning outrage..Geitner comes out feigning outrage..Democrat Leadership comes out feigning outrage. All the while declaring they "never noticed"

Drama gets pushed up..Schumer etc.

Basically they are trying to portray themselves as having been used and fooled by the unscrupulous and evil corporation AIG while fighting for the people. Its all a dance.
:2dance:


Problem they have is its BS and everyone paying any attention knows it is. Its pretty clear the people they are trying to pull this on are not buying it.

...

I will not be shocked to see Geitner resign soon. If anyone is likely to be run over by the "never noticed" bus its going to be him.

If the Obama and its lackeys in the Congress do not manage somehow to spin this to such an extent as to be absurd.

2010 is looking like a good year for the Democrats :rofl

 

[zimmer]

Political Punch: Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month

Does anyone believe this? If you do, do you admit that Obama's administration is proving to be highly incompetent? Chris Dodd added an amendment last YEAR to PROTECT these payouts. They full well knew, how stupid is the American Public?

If they believe this? Very much so.

Believe it? No.

Incompetent? Yes.

Add:
Deceitful.
Manic depressive.
Arrogant to the core.

Just your typical Lib, but in historic packaging!

 

[aps]

Political Punch: Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month

Does anyone believe this? If you do, do you admit that Obama's administration is proving to be highly incompetent? Chris Dodd added an amendment last YEAR to PROTECT these payouts. They full well knew, how stupid is the American Public?

If they believe this? Very much so.

Your "Very much so" answer came to me in 2004--when George Bush was re-elected. I will never underestimate (misunderestimate) the stupidity of the American people.

As for your question regarding this issue, I don't know. I think Obama would be pretty stupid to claim he didnt' find out about this if it was easy to prove otherwise. Just because Chris Dodd had knowledge of this doesn't mean that Obama had actual knowledge.

 

[ReverendHellh0und]

Political Punch: Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month

Does anyone believe this? If you do, do you admit that Obama's administration is proving to be highly incompetent? Chris Dodd added an amendment last YEAR to PROTECT these payouts. They full well knew, how stupid is the American Public?

If they believe this? Very much so.

Either he is lying, or he is incompetent.

 

[aps]

Either he is lying, or he is incompetent.

Let's presume he's telling the truth. How does this make him incompetent? Please explain.

 

[TOJ]

Either he is lying, or he is incompetent.

Both, me thinks.

 

[ReverendHellh0und]

Let's presume he's telling the truth. How does this make him incompetent? Please explain.

uhm, who would have thought that he and his merry men forgot to address the accountability, and bonuseseses in these bailouts?

 

[aps]

uhm, who would have thought that he and his merry men forgot to address the accountability, and bonuseseses in these bailouts?

I am not sure how much they could have impacted an agreement made prior to the government saving AIG. I'm too dumb when it comes to this issue to understand what should or should not have been done.

Liddy from AIG has an editorial in today's Washington Post that I posted in another AIG thread. I'll re-post it here in case you want to read it.

Edward M. Liddy - Repairing AIG and Repaying the Public

 

[ReverendHellh0und]

I am not sure how much they could have impacted an agreement made prior to the government saving AIG. I'm too dumb when it comes to this issue to understand what should or should not have been done.

easy, no money for bonuses in the agreement between the .gov

better yet, we should not have bailed them out period.

Liddy from AIG has an editorial in today's Washington Post that I posted in another AIG thread. I'll re-post it here in case you want to read it.

Edward M. Liddy - Repairing AIG and Repaying the Public

I read that. it's propaganda.... though I hope it makes me good money today on aig stock.