AIG bonuses: OBAMA KNEW!

Posted by: ST on March 16, 2009 at 8:26 pm

I mean, just a couple of weeks ago, Obama spox Robert Gibbs was confident the administration knew where AIG’s money was being spent:

From White House press secretary Robert Gibbs’ briefing two weeks ago, when $30 billion in additional funds were announced for AIG.

TAPPER: AIG, is the administration confident that it, that it knows what happened to the tens of billions of dollars previously given to AIG?

GIBBS: Is it confident — I’m sorry?

TAPPER: That they know — that you guys know what happened to the previous billions before you hand over this next $30 billion.

GIBBS: Yes — yes, the — I mean, I don’t think it’s a — well, obviously, you’ve got a huge insurance company that is losing money, not the least of which because of its sheer size and sheer size and decrease in the growth in our economy. It experiences a far bigger drop, largely because of its size. But, again, the steps that — that Treasury and — and others took were to ensure a larger systemic problem wasn’t one that we had to deal with here today in letting something just die.

TAPPER: But in terms of specifically the — I guess it’s like $150 billion before, you guys are confident…

GIBBS: Yes.

Another great gotcha by Jake Tapper.

Seriously, the fact that Obama didn’t know doesn’t surprise me. And, sadly, the fact that no one else seemed to know doesn’t surprise me either. These days it doesn’t seem like anyone has a clue what’s going on – not Obama, not Congress, not his various “czars” …

And Obama announced today that he has ordered Treasury Sec. Tim “Turbo Tax” Geithner to try and find a way to block the AIG bonuses. Tom Maguire sorts through the suggestions on the bonuses made by various pundits and bloggers here. Related thoughts on the bonus issue in general here.

RSS feed for comments on this post.

Trackbacks

6 Responses to “AIG bonuses: OBAMA KNEW!”

Comments

  1. Nina says:

    AIG is the insurer of most the “toxic assets” which all the banks sold to other investments groups all over the world. AIg is the clearing house to pay all the other investors that’s why is requiring all those billions.If the gov doesn’t pay nobody will buy our debt. They said they haven’t bought these assets but they have since AIG is basically buying them back.
    This bonus thing is a distraction since the reports of the pay outs to foreign banks and investors came out. The American banks got pay outs too like Goldman Sachs, CITI,etc.

    So who’s going to get back all those securities(toxic) that we are basically buying back? the gov or AIG? Or are the investors also keeping them in addition to the pat out?So if the American banks sold most of the securities abroad or they are getting paid by AIG why are they saying they have so much in toxic assets? Follow the money….

  2. Carlos says:

    And don’t forget, some of the gazillionaire Donkey bigtime contributors work for the very banks that are getting bailed.

  3. Lorica says:

    I find it odd that there is all this hoopla about these bonuses. Last year EVERY SES in the government got a bonus. Where was frickin Barney Frank on that “waste” of taxpayers money??? – Lorica

  4. omapian says:

    AIG execs ACTUALLY EARNED their bonuses! AIG did not go bankrupt – the execs got them the bailout money with no strings attached.
    Connect the dots… The Execs make $$$ donations to elect their friends to the legislature. The legislature make decisions that puts banks at risk. Banks go broke, AIG insurance suffers. AIG execs go the the friendly legislators for bailout money.
    When the public learned they were footing the bill, legislators needed a scapegoat and denounced the execs. The execs can cry all the way to the bank.
    I don’t for a minute believe this administration, or the 111 Congress, is going to punish the lobbyists that have facilitated their acquisition of power.

  5. Two Cents says:

    But did the teleprompter know?