Two Weeks Ago: White House Says It's Confident It Knows What Happened to Previous AIG Billions

As a conservative I'm not suprised at this mess they have now. Bush wasn't the best pres we've had but this idiot BO is going down in history as one of the worst ever.

Jake, I know you will ready for obambi's smoke and mirrors BS with Jay Leno. What we have now is a crisis in confidence with the markets, congress and the judgement of barack's telepromter. He is a narcissist who has no clue how to lead. For all Bush haters and Hillary supporters, both could lead. After 9/11, Bush rationally got us back on track.

Our government is acting like it is a Venture Capital firm with unlimited resources. Let's print up some more money, increase tax revenue and try some things out. Let's not do any TRUE due diligence as to whether investing OUR money in these companies is a good investment, because there are no consequences for them if it doesn't work out. They've got no SKIN in the game so to speak, it's all ours!

All this backpedaling on NOT knowing about the bonuses makes me so sick and angry that I'm embarrassed for America.

The amendment to the bill that enabled these retention bonuses to be paid was negotiated by our Congress (Dobb, Pelosi, Reed, etc...). Dobb and others giving AIG execs the exemption they needed to collect these massive multi-million dollar bonuses and then walking away. Obama signed off on it. Paying off those who contributed to them.

Tell me honestly, what has changed about politics in Washington since Obama has arrived. These disgusting practices are more rampant than ever!

To the people who are saying, well at least Obama and the Democrats are trying to find out how the money is being spent, wake up already! Are you really that stupid?

I believe all of them (Congress, Obama, AIG) should be brought up on charges of fraud because that's exactly what this is. The people of this country have just been duped for the largest amount ever, makes Madoff's scheme look like childs play.

I'm surprised Gibbs didn't blame Rush Limbaugh this time

Obama didn't inherit anything that he didn't help create. Sure, Bush spent a lot on the war effort, but Obama has already doubled the national debt. Neither party has the filberts to force banks to swallow their bad assets, so we take it up the back tunnel.

Banks and megacorporations pay off politicians on both sides of the aisle with massive campaign contributions, so congress takes care of their big contributors before they even think of the little guy.

If there was ever a time for a taxpayer revolution, that time is NOW!!!

Let the people not waste this crisis!! Throw the crooked bums out, and rewrite the rules so lobbyists NEVER AGAIN take this much power from the people!

I marvel that a few thousand individuals are responsible for this whole thing, in govt and international finance.
The ties that these people have to one another are frightening...the true history about this bank robbery of the national treasury is yet to be written.
It is a page right out of Henry Ford's Dearborne Independent.

I believe all thinking taxpayer citizens are getting totally fed up with Barack (from Chicago), the green horn president "who won". This clears the field for anything he and Imanuel can think up, put through congress, and pay back the groups who pushed his election. Obama is running AIG since they took the money, the administration is calling the shots. The MSM is on the fix also and that is why no matter which outlet you listened to on 3/17, they were in lock step, "Obama, Congress,(put in your own politican name) and it was the same message no matter which station you listened to. Decoys, to hide the billions AIG funneled on into European banks, ala Presiden B.H. Obama.

How do you think this would have played out if the Republicans had supported this mess?

We know how it would have played out. Exactly the same way that the entire subprime meltdown! Liberals from Chris Dodd to Harold Raines to Jamie Gorelick to Barney Frank to Barack Obama would have made billions of bucks then blamed it on Republicans and American's greed.

All to the general hoorah of the MSM.

And Obama would once again lecture Americans about how WE were going have to change all the while he was shoveling billions to his friends like ACORN so they could have another go at lenders for some free loans.

How do you think this would have played out if the Republicans had supported this mess? Maybe, Obama will blame the three Republicans who voted for the bill now.

It great to see Jake and Gibbs bonding this way. This may be the beginning of a great friendship that may last a life time :-D

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Treasury Secretary Timothy Geithner and White House economic aide Lawrence Summers failed to stop Senate banking committee chairman Chris Dodd, D-Conn., from adding to the stimulus bill stricter limits on bankers' bonuses than the White House wanted.

Dodd argued that the restrictions were critical to gaining public support for more funding for the ailing financial sector, saying that the perception that executives were getting rich on bailout money would be an impediment.

Under the administration's proposal, compensation restrictions applied only to banks that receive "exceptional assistance" from the government. Top executives could be paid no more than $500,000, with bonuses or other compensation coming as stock that could only be claimed after the federal money had been paid back.

The bill passed by Congress set executive bonus limits on all banks that receive bailout money. The amount of assistance will determine the number of executives affected, though top executives will be prohibited from getting bonuses or incentives except as restricted stock that vests only after bailout funds are repaid. Amounts also can be no greater than one-third of the executive's annual compensation.

The prohibition would not apply to bonuses that are spelled out in an executive's contract signed before Feb. 11, 2009.
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So Dodd put MORE in there than Obama wanted, AIG found discovered they could honor those pre-2/11 contracts and did so! Hmm, As others have said, nice acting.....

"And the Oscar goes to Barrack Obama for his great performance of showing anger after the American people expressed theirs"

By the way, was there ever a definiton for "exceptional assistance" provided by the administration?

"While the Senate constructed the $787 billion stimulus last month, Dodd unexpectedly added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009,” which exempts the very AIG bonuses Dodd and others are seeking to tax. The amendment is in the final version and is law."
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Just say no to phony outrage.

The president signed this bill.

"Pity, it's too late even for buyer's remorse."

It's not too late -- in fact, the time is ripe -- to impeach The CHANGEling for looting the Treasury -- all it takes is a new House, made up of party-free independents who aren't beholden to the mob and the corporations.

Dis-electing a bunch of faux "Democratic" and "Republican" reps may finally be possible.

"Lots of outrage over something most of DC already knew about for a long time."

They didn't even take the time to read the massive bill! Remember Obama\Pelosi were adamant that the bill was so urgent that they had to vote on the bill 10 hours after the final bill was posted.

And cover was ran for the Democrats by their friends in the MSM who belittled anybody who suggested that it should be postponed until the bill could be studied. It was approved by the Democrats but this bill was NOT signed till 5 days later because Nancy had to run off to Europe and Barry was taking another vacation to Chicago to conference with William Ayers.

For all the leftist here, this is what you get by having a swooning pack of "journalists" who just pass along the spin of Obama as "reality".

Just remember that conservatives have been against this from the beginning!

It was passed entirely by Obama and the Democrats. So reap what you sowed idiots!

Obama became outraged when the polls showed that WE are outraged. How convenient.
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ctmom,

This was Al Gore's M.O. It why he was always "re-introducing" himself to America. He was all about get a poll, then formulate a thought.

"AIG had at this point designated $165 million in retention bonuses for officers of the Financial Products subsidiary, as well as an additional $121.5 million in executive bonuses."

It seems that The CHANGEling's "outrage" at the AIG bonuses is many days late and a hundred million dollars short. That His over-acted "outrage" -- watch for repeats of that nervous cough -- didn't extend to executive bonuses is curious.

Or it WOULD be curious if He hadn't voted for the Bush bailout, and been installed by the corporados for whom He conveniently, for the moment, professes disdain ...

Why is Geithner still there?

It was all so apparent to anybody wanting to look..

Obama:
"Unprepared to be the FIRST, Rushing to be the WORST!"

Thank you Jake Tapper for being just about the only main stream media person who will reveal the true Obama.

"While the Senate constructed the $787 billion stimulus last month, Dodd unexpectedly added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009,” which exempts the very AIG bonuses Dodd and others are seeking to tax. The amendment is in the final version and is law.

Also, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org.

Dodd’s office did not immediately return a request for comment."
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Lots of outrage over something most of DC already knew about for a long time.

Bipartisan...

Pushing the stimulus, the administration snarked that the pork in the bill was a small percentage of the overall $787 billion. I'd like to have that small percentage in my pocket. Anyway, now they are faux outraged at the $167 million bonuses at AIG. His BS is so glaring,I can't believe that the whole world can not see his BS for what it is. The stimulus contained $130 mil. for a salt marsh beach rat. How does that simulate the economy. That kind of crap should have been completely cut out of the "stimulus." Now he accepts almost 9,000 earmarks in the latest budget, while railing against earmarks. He could have vetoed that bill, but BS'd that it was last year's business. He's a charlatan in my eyes. Now he wants to tax health benefits and force veterans to use pri vate insurance for service related injuries. He contradicts himself every time he speaks.