Benny's World

Monday, March 16, 2009

Breaking: Obama Orders Treasury Sec to Block AIG Bonuses

From the NYT:

“In the last six months, A.I.G. has received substantial sums from the U.S. Treasury,” Mr. Obama said. He added that he had asked Treasury Secretary Timothy F. Geithner “to use that leverage and pursue every single legal avenue to block these bonuses and make the American taxpayers whole.”

In strongly-worded remarks delivered in the White House East Room before small business owners, Mr. Obama called A.I.G. “a corporation that finds itself in financial distress due to recklessness and greed.”

“Under these circumstances, it’s hard to understand how derivative traders at A.I.G. warranted any bonuses at all, much less $165 million in extra pay,” Mr. Obama said. “How do they justify this outrage to the taxpayers who are keeping the company afloat?”

Thank you, Mr. POTUS. The Board of Directors ought to be held accountable for this too.

Oh, and if you wish to sign the petition to bring these clowns to be held accountable by Congress, go to FireDogLake.

Watch the video here (courtesy of Daily Kos TV):

And it sounds like there are some options. Glenn Greenwald has more on it here.

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  • That is the best news I have seen all day!! Go Obama!!

    By Blogger Stacy, at 11:47 AM  

  • The HL has been amended by the NYT to try to stop. And Obama needs to make good on this to maintain his leadership credibility. It was bad enough that Gibbs had to try to explain Summers and Geithner's lack luster explanations.

    By Blogger benny06, at 1:58 PM  

  • AIG = Allowing Irreversible Greed.
    AIG = All in Greed.
    AIG = Arn't I Greedy.
    AIG = A$#holes, in general.

    This is sick. Why in the world are we helping these companies that keep sending millions to people who do not know how to run a company? They cry yet get paid millions on the "average joes" taxes. Furthermore, I fear this is just the tip of the iceberg. Look what Enterprise rent-a-car did to get bailout funds:

    Not to make excuses for these people, but the bailouts are making crooks out of everyone that touches the money.

    By Blogger Wes, at 3:49 PM  

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