Cumo subpoenas AIG for executive bonus details: Video
source: http://rawstory.com/news/2008/Obama_pursue_every_legal_avenue_to_0316.html
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- bansheewail
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Responding to a populist firestorm over the news that AIG planned to pay out millions in bonuses to many of the executives viewed to be responsible for the firm's near-collapse in 2008, President Obama announced he has directed Treasury Sec. Timothy Geithner to "pursue every legal avenue to block these bonuses" in embargoed remarks obtained by RAW STORY.
Noting the substantial sums AIG has received from the federal government, Obama said late Monday morning Geithner should use that leverage in pursuing a block of the bonuses.
"This is a corporation that finds itself in financial distress due to recklessness and greed," said Obama. "Under these circumstances, it’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay. How do they justify this outrage to the taxpayers who are keeping the company afloat?"
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- News and Politics, Politics
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courage
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used to be a free country use to be
- 3 years ago
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courage
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WhiteNoise
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This should be investigated as a crime !
Spitzer tried eons ago to no avail...
CRIME PAYS
http://www.youtube.com/watch?v=H8hg7XH-Gns&feature=channel_pageWhy do I get the feeling this is again but window dressing for the village idiot scene ?
Why would AIG go out of its way to publicize this at this very moment ?
Please remember we are getting all indignant about a few millions while thousands of BILLIONS are flying out our collective window...
Welcome back to feudalism dear fellow medieval ignorant peasant pigs ;)
"Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies." - Groucho Marx
Marxism we all can believe in ;)
PS : Is AIG short selling America ?
AIG has insured $1.6 trillion in derivatives
http://www.boingboing.net/2009/03/09/aig-has-insured-16-t.htmlTo really understand, please watch Samantha Bee's segment of the DAILY SHOW
March 16, 2009 show clip 2 of 4
http://www.thedailyshow.com/Executive Resume
“I found that politicians knew how to befog every issue, how to control public opinion and manipulate votes to their own advantage and to that of their financial and industrial allies. In addition, Government protects the strong at the expense of the weak, provides courts and laws which the rich may scorn and the poor must obey. It enables the predatory rich to make wars to provide foreign markets for the favored ones, with prosperity for the rulers and wholesale death for the ruled.” - EMMA GOLDMAN, December 1934
"Everything predicted by the enemies of banks, in the beginning, is now coming to pass. We are to be ruined now by the deluge of bank paper. It is cruel that such revolutions in private fortunes should be at the mercy of avaricious adventurers, who, instead of employing their capital, if any they have, in manufactures, commerce, and other useful pursuits, make it an instrument to burden all the interchanges of property with their swindling profits, profits which are the price of no useful industry of theirs." --Thomas Jefferson to Thomas Cooper, 1814. ME 14:61
- 3 years ago
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WhiteNoise
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jaxllc
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FALLOUT GROWS: Those who voted for the stimulus supported the clause to protect the AIG's bonuses. Obama's Own Stimulus Bill Protects the AIG Bonuses He Now Condemns —
- 3 years ago
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jaxllc
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jaxllc
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FALLOUT GROWS: Those who voted for the stimulus supported the clause to protect the AIG's bonuses. Obama's Own Stimulus Bill Protects the AIG Bonuses He Now Condemns —
http://www.butasforme.com/2009/03/17/obamas-stimulus-bill-explicitly-grants-aig-...
- 3 years ago
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jaxllc
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RubyJ
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Somebody got all the "get outta jail free" cards!
- 3 years ago
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RubyJ
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Bren589
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another lesson we have learned . Stop bailing these jerks out. they just give the damn money away. let them all sink next time. Obama is not the only one who is pissed off.
- 3 years ago
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Bren589
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bansheewail
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Finally, we see some common sense and justice in the Bush/Paulson TARP bill. Still, we may never know what happened to all $350 Billion.
- 3 years ago
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bansheewail