Wednesday, March 18, 2009

Obama Fails The Timeline Test
I wonder why the media isn't screaming THIS from the rooftops?

Transperancy... what transparency?

From Reuters and The Washington Post; 10 March - U.S. Treasury Secretary Timothy Geithner found out about the impending bonuses to executives at AIG.

12 March - Geithner alerted the White House of the AIG bonuses to be paid.

13 March - AIG pays out bonuses under contracts signed last year.

15 March - The Washington Post breaks the AIG bonus story. Now the whole world knows about it.

16 March - Only after the story is made public, does Obama express outrage. "this is not just a matter of dollars and cents, it’s about our fundamental values," President Obama lashed out at the news of more than $121 million in bonuses being awarded to executives of AIG.

17 March - The White House finally discloses that President Obama was informed about the $165 million in bonuses due to employees of the AIG the day before they were paid.

2 Comments:

Blogger mark said...

Senator Barack Obama received a $101,332 bonus from American International Group in the form of political contributions according to Opensecrets.org. The two biggest Congressional recipients of bonuses from the A.I.G. are - Senators Chris Dodd and Senator Barack Obama.

The A.I.G. Financial Products affiliate of A.I.G. gave out $136,928, the most of any AIG affiliate, in the 2008 cycle. I would note that A.I.G.’s financial products division is the unit that wrote trillions of dollars’ worth of credit-default swaps and "misjudged" the risk.

11:29 AM  
Blogger Greta said...

It was obviously known by the dems before because Sen Dodd had inserted language into the bailout bill expressly giving permission for bonuses arranged prior to the bailout to be paid.

Democrats never seem to want to acknowledge that they screwed up big time on this and a hundred other things over the last 10 years with Fannie and Freddie or anything else. They lie looking right in the camera and yell Bush did it all. The only way this works of course if you can count on the media not to point out the big lies being repeated over and over.

But what about the money paid out to the big dems who rode fannie and freddie into the ground. Makes the AIG deal look tame.

CEO Frankline Raines 90M$ plus
CFO Tim Howard 30M$ plus
Vice Chaid Jamie Gorlick 26M$ plus
CEO Jim Johnson 21M$

And what about those that got cash donations from Fannie and Freddie who had their legislative fingers in the pie

Chris Dodd 115K plu
Barry Obama 120K plus

And never forget Barney Frank screaming "Fannie Mae and Freddie Mac... are not facing any kind of financial crisis," when the republicans and Bush were trying to get some oversight moving...

Fannie Mae, described by pundits as a "job shop for out-of-work Democrats."

Fannie Mae's stock price, the collapse of which devastated the capital-to-asset ratios of banks and insurance companies like AIG (which held five billion dollars in Fannie Mae and Freddie Mac equities)

But it is important to refocus everyone toward the contracts the dems knew about and OK'd but now are outraged.

This is a giant shell game and the dems are hoping the media never starts to do their damn job or they are sunk.

1:13 PM  

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