Obama, Congress knew about AIG bonuses for months?

Question

Cue the outrage. For months, the Obama administration and members of Congress have known that insurance giant AIG was getting ready to pay huge bonuses while living off government bailouts. It wasn't until the money was flowing and news was trickling out to the public that official Washington rose up in anger and vowed to yank the money back.

Why the sudden furor, just weeks after Barack Obama's team paid out $30 billion in additional aid to the company? So far, the administration has been unable to match its actions to Obama's tough rhetoric on executive compensation. And Congress has been unable or unwilling to restrict bonuses for bailout recipients, despite some lawmakers' repeated efforts to do so.

The situation has the White House and Treasury Secretary Timothy Geithner on the defensive. The administration was caught off guard Tuesday trying to explain why Geithner had waited until last Wednesday to call AIG chief executive Edward M. Liddy and demand that the bonus payments be restructured.

Neither Obama nor Geithner learned of the impending bonus payments until last week, senior administration officials told The Associated Press late Tuesday, speaking on condition of anonymity about internal discussions.

Publicly, the White House expressed confidence in Geithner — but still made it clear he was the one responsible for how the matter was handled.

"I do know that Secretary Geithner last week engaged with the CEO of AIG to communicate what we thought were outrageous and unacceptable bonuses," White House spokesman Robert Gibbs said. Gibbs declined to provide a timeline that would show when members of the administration — including the president and others at the White House — became aware of the bonuses.

http://www.google.com/hostednews/ap/article/ALeqM5hEalVdubp5tGI_-bkLMyNULqCjXgD97040E00

Answer 1

If one will recall:



As Senator Obama voted for the stimulus bill, was behind it 100% and promoted it. AIG had at that time contributed in excess of 130,000 to his campaign.



If one will recall during the campaign he took time off to go back to Washington to work on this bill and promote it. As the democrat candidate for president he had major influnce in putting the stimulus package together and pusing it through.



His hands are no where near clean on this AIG thing.



Those who do not have the facts please click the thumbs down icon below.

Answer 2

They all did. The media did too. The outrage over these bonuses are perfect for the politicians. They can show their disgust and the media can pretend to be doing their job. Meanwhile there is no talk about where that 700 billion dollar TARP money went. The bonuses are a pittance in comparison.



Watch out for the head fake.

Answer 3

Geithner found out the bonuses were paid out March 15, 2009. It was Bush who approved the bailout with the bonuses included. You know he got a piece of the pie.

Answer 4

Ummm...no. The administration learned about this last tuesday. The federal reserve were the ones that knew about this for awhile. The chairman of the federal reserve makes his own decisions and makes his own rules. He doesn't have to tell Mr. Obama anything if he doesn't want to.

Answer 5

Dick Durbin didn't write in oversight on the AIG money bailout because he was getting financial support from the (kickbacks)!

Answer 6

Time for all democrats in congress to give back the millions they got from AIG.

Answer 7

bush knew about it, yet still signed the Corporate Welfare Bailout. Why didn't you question it then?

Answer 8

Yup, Obama the liar is revealed. Finally! Just wait...it'll get better. Way to go Dems...way to ruin our country.

Answer 9

the golden rule that line in the constitution should read"by the people for the corporations"