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Geithner Aides Worked With AIG for Months on Bonuses

Harry Guerrilla

Harry Guerrilla

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Geithner Aides Worked With AIG for Months on Bonuses - WSJ.com

WASHINGTON -- Since the fall, senior aides to Timothy Geithner have closely dealt with American International Group Inc. on compensation issues including bonuses, both from his time as president of the Federal Reserve Bank of New York and as Treasury secretary.

The extent of their involvement, which wasn't widely known, raises fresh questions about whether Mr. Geithner could have known earlier about AIG's $165 million in bonus payments. When the bonuses sparked a political firestorm last week, Mr. Geithner said he learned about their full scope in early March, just days before they were paid.
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After Edward Liddy took over as AIG chief executive, the company hired consultants to look at its payment plans around the world. One of Mr. Geithner's top bank supervisors at the New York Fed, Sarah Dahlgren, became the government's lead overseer of AIG. She sat in on AIG board meetings, joined at times by other top Fed staffers, and also participated in compensation-committee meetings. It isn't clear whether the issue rose to the board level until this month.
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AIG cited the retention plan in a public filing in early November, and Fed officials were aware AIG planned to pay $55 million in bonuses to financial-products employees the next month. Mr. Geithner remained involved in major AIG matters, seeking updates from Ms. Dahlgren and other top Fed staffers. He recused himself from dealing with aid to specific companies around the time of his Nov. 24 nomination as Treasury secretary.

Fed officials declined to make Ms. Dahlgren available to comment on the bonus issue.
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I don't believe he didn't know, it is absolute crap in my opinion.

Why are they keeping Sarah Dahlgren from commenting I wonder? :doh
 
As a political issue, this is great.

As an actual issue, this is ****ing idiotic.

I love to pillory Geithner (and Obama by proxy) as much as anyone else, but there's a point where you have to drop some stuff and talk about the important issues.
 
You mean Geitner being Democratic tax cheating crook is not an imporant issue?
 
American said:
You mean Geitner being Democratic tax cheating crook is not an imporant issue?
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In 2010 or 2012? Sure.
If we're trying to figure out how to fix the ****ing economy? Of course not.
 
RightinNYC said:
As a political issue, this is great.

As an actual issue, this is ****ing idiotic.

I love to pillory Geithner (and Obama by proxy) as much as anyone else, but there's a point where you have to drop some stuff and talk about the important issues.
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Agreed. The total AIG bonuses are a drop in the bucket compared to what we, as taxpayers are on the line for. Even if the bonuses never got paid or were planned for, AIG is still in the tank and we are still on the line for it. Focusing on $180 million in bonuses when it had billions in losses is not helping the problem. Even worse, trying to get rid of retention bonuses designed to keep insurance employees who are bringing in profits to AIG is counter productive.
 
RightinNYC said:
As a political issue, this is great.

As an actual issue, this is ****ing idiotic.

I love to pillory Geithner (and Obama by proxy) as much as anyone else, but there's a point where you have to drop some stuff and talk about the important issues.
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obvious Child said:
Agreed. The total AIG bonuses are a drop in the bucket compared to what we, as taxpayers are on the line for. Even if the bonuses never got paid or were planned for, AIG is still in the tank and we are still on the line for it. Focusing on $180 million in bonuses when it had billions in losses is not helping the problem. Even worse, trying to get rid of retention bonuses designed to keep insurance employees who are bringing in profits to AIG is counter productive.
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I've come to respect both of your opinions, but the reason I post this and think it is important is that these morons go on and on about it pretending they didn't know when in reality they are **** bucket liars.

I personally don't care if the AIG guys get bonus'. Its the fact that these guys are in our pockets looting us and playing rearrange the deck chairs with blame.
 
RightinNYC said:
As a political issue, this is great.

As an actual issue, this is ****ing idiotic.

I love to pillory Geithner (and Obama by proxy) as much as anyone else, but there's a point where you have to drop some stuff and talk about the important issues.
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Did you ever think this may be just a smokescreen to divert attention away from issues they might not want scrutinized right now?

They sure have beat this horse into the ground every which way from Sunday.

The other thing to note is how quick they're passing the budget & stimulus bills. By the time people actually get to read everything, then connect the dots, the money has been spent, and the programs/projects are already implemented.

Any questionable spending or controversial programs/projects will merely get the same treatment as we're seeing now with the AIG bonus', and the faux hearings on who, what and how this could have happened.
 
Harry Guerrilla said:
I've come to respect both of your opinions, but the reason I post this and think it is important is that these morons go on and on about it pretending they didn't know when in reality they are **** bucket liars.
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I agree 100% that they're acting like sleazy politicians, but that's an issue for election season. Like it or not, nothing about Congress is going to change for the next 22 months. While we're stuck with these people, we should be agreeing with the proposals that are good, saying no to the proposals that are bad, and offering better solutions if they won't come up with them themselves.

The best thing that the Republicans could do right now is say that they're sick of playing politics with stuff like the AIG bonuses and refuse to participate in crap like passing bills of attainder. Then they need to go out, sit down with some economists and party leaders, and come up with their own proposals if they don't like the ones the Dems are pushing.

GottaHurt said:
Did you ever think this may be just a smokescreen to divert attention away from issues they might not want scrutinized right now?
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If true, the best thing we could do is ignore it and focus on the real issues.
 
RightinNYC said:
In 2010 or 2012? Sure.
If we're trying to figure out how to fix the ****ing economy? Of course not.
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No, that son of a bitch needs to go NOW!
 
Right,


I think the issue here is not the bonuses per say, but it is the sleazy lying about who knew what and the fear and scape goating game that the Obama administration is playing here.

They wrote the bonus protections into the bill, Obama signed it. Said he was to stupid to read it. Come to find out THEY insisted on putting it in.

And people and thier families are being theatened over Obama's shennennigans.


"exploiting a crisis", indeed.
 
Harry Guerrilla said:
Geithner Aides Worked With AIG for Months on Bonuses - WSJ.com

I don't believe he didn't know, it is absolute crap in my opinion.

Why are they keeping Sarah Dahlgren from commenting I wonder? :doh
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I think it's time a few thousand people assembled outside her house in an effort to get her to speak. 24-7 until she pokes out her head and speaks klartext.

It's time we make those who created this accountable... and those that played a shell game with the truth... exactly in the same manner as they tried to make AIG accountable.

Uncomfortable let's say.

BUT not anything illegal as the anti-AIG wacko wing has done.

Just a reminder who works for whom.

.
 
American said:
No, that son of a bitch needs to go NOW!
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Well that just like, your opinion, man.

Reverend_Hellh0und said:
Right,


I think the issue here is not the bonuses per say, but it is the sleazy lying about who knew what and the fear and scape goating game that the Obama administration is playing here.

They wrote the bonus protections into the bill, Obama signed it. Said he was to stupid to read it. Come to find out THEY insisted on putting it in.

And people and thier families are being theatened over Obama's shennennigans.


"exploiting a crisis", indeed.
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So they're slimy politicians. I agree. Unfortunately, we have to wait until an election to do anything about that, so until then, let's try to get some **** done.


zimmer said:
I think it's time a few thousand people assembled outside her house in an effort to get her to speak. 24-7 until she pokes out her head and speaks klartext.

It's time we make those who created this accountable... and those that played a shell game with the truth... exactly in the same manner as they tried to make AIG accountable.

Uncomfortable let's say.

BUT not anything illegal as the anti-AIG wacko wing has done.

Just a reminder who works for whom.

.
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So because some wackos advocated for harassing people that they thought did things wrong, you suggest doing the same to prove that you're not a wacko?

CANT POSSIBLY FAIL
 
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