Posted on 03/19/2009 11:14:52 AM PDT by Ernest_at_the_Beach
WASHINGTON (AFP) — The US government's chief overseer of bank bailout funds announced Thursday a probe into the Treasury's handling of hugely controversial bonuses paid by bailed-out insurer AIG.
The announcement by Neil Barofsky, the special inspector-general of the Troubled Asset Relief Program, turned up the political heat on Treasury Secretary Timothy Geithner amid Republican calls for his resignation.
In testimony to the House Ways and Means subcommittee on oversight, Barofsky said he would "act aggressively to recover the taxpayer's money" if wrongdoing is found at American International Group itself.
"We're launching an audit that, as part of a larger review of executive compensation practices, will include a thorough review of the process through which Treasury decided to authorize and approve such payments," he said.
The probe will cover "who knew what, how, when and why," he said, arguing that a November agreement between the Treasury and AIG "included specific reference (to) retention payments."
(Excerpt) Read more at google.com ...
That's okay, Geitner probably ENJOYS being probed.
fyi
Getty Image of the Auditor at this link:
The employees got 160 Million. The taxpayer spent 160 Billion. 19 Billion went to French banks alone! Lets claw that back.
List of countries where AIG related payments went
to Country (In Billions of US $)
US 43.5 France 19.1 Germany 16.7 UK 12.7 Switzerland 5.4 Netherlands 2.3 Canada 1.1 Spain 0.3 Denmark 0.2 101.3
Just more theater. Obama’s people authorized the bonuses, and the senate signed off on it. Now they want to “investigate” it.
They are frauds. Barofsky is just making sure he gets his fifteen minutes.
We’re supposed to get all exercised about the millions and ignore the billions. And we’re supposed to ignore the fact that Obama and Dodd and Frank were paid off by these people, and we’re supposed to ignore the fact that the heads of these agencies were in the tank for Obama before the election, and he’s made sure they get their billions not to mention the million dollar icing on the billion dollar cake.
No wonder Queen Polosi was smiling so much a few months ago-— she; along with others must have thought that those involved with all this scum would fool the American Public and they (gooberment) would have access to all the money they wanted to fund elections,etc. We already know Dodd, Obama, Hillary and quite a few others benefited from AIG money! How deep does this go and why shouldn’t they also be giving money back? The bail out needs to be stopped! The voluntary service bill needs to be stopped! Those who are concerned about the America way of life already volunteer in one way or another for the most part.
Investigate themselves??
And they think the public will be happy they are acting positively on this travesty??
Good luck trying to probe Barney Frank.
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