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Obama, Congress knew about AIG bonuses for months (Obama continues the lies)
ap ^ | 3/17/2009 | JULIE HIRSCHFELD DAVIS

Posted on 03/17/2009 5:57:31 PM PDT by tobyhill

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.

(Excerpt) Read more at google.com ...


TOPICS: Breaking News; Extended News; News/Current Events
KEYWORDS: aig; bho44; bhotreasury; geithner; islamicfinance; obama; obamasteleprompter
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1 posted on 03/17/2009 5:57:32 PM PDT by tobyhill
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To: tobyhill

No, you must be mistaken. According to this inteview, nobody in Congress knew about this until about a week ago.

http://freerepublic.com/focus/f-news/2208720/posts


2 posted on 03/17/2009 6:00:05 PM PDT by Lorianne
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To: tobyhill

I believe Dodds inserted a provision into the Stim. bill to protect the exect’s bonuses. He now has no recollection of his own provision but....it is within the bill.


3 posted on 03/17/2009 6:01:59 PM PDT by WesternPacific (I am tired of voting for the lesser of two evils!)
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To: tobyhill

Rush just pointed out Congress has known for a year.


4 posted on 03/17/2009 6:02:50 PM PDT by SloopJohnB
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To: SloopJohnB

I’m sure the administration’s response will be as follow:

“I knew before I didn’t know”


5 posted on 03/17/2009 6:06:31 PM PDT by baltoga
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To: Lorianne
***AIG’s plans to pay hundreds of millions of dollars were publicized last fall, when Congress started asking questions about expensive junkets the company had sponsored.***

Since he only learned about it a week ago I guess he's just stupid. He just signs bills into law without knowing what he signing. He even accepts $101,000 from the company but still knows nothing about them.

6 posted on 03/17/2009 6:06:40 PM PDT by tobyhill (Obama gets no free pass from Free Republic!)
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To: tobyhill

This outing of Hussein’s lies coming from the Ass Press????

I am, no kidding, literally STUNNED. I never thought I would read an ASS Press even remotely critical of their Messiah.


7 posted on 03/17/2009 6:07:42 PM PDT by Recovering_Democrat (I'm SO glad I no longer belong to the party of Dependence on Government!)
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To: WesternPacific
That selective memory is a terrible thing to waste.
8 posted on 03/17/2009 6:07:50 PM PDT by tobyhill (Obama gets no free pass from Free Republic!)
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To: tobyhill

This could the beginning of Obama’s Watergate. What would you call it?


9 posted on 03/17/2009 6:08:03 PM PDT by Krankor (Vitajex, whatcha doin' to me.)
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To: tobyhill

Lies for the purpose of distracting attention from all his other, daily, screw-ups.

The Snake and the Forehead must have discovered that demagoging the AIG bonuses issue polled well.


10 posted on 03/17/2009 6:09:31 PM PDT by bigbob
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To: tobyhill

The teleprompter knew.


11 posted on 03/17/2009 6:11:08 PM PDT by SERKIT ("Blazing Saddles" explains it all.....)
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To: tobyhill

Bonus issue will end any recovery and may be the incident that will trigger the collapse of US financial system. AIG was propped up by feds to buy time to resolve the huge liabilities of the derivative market. A market that in 2005 Congressional hearing that Greenspan and SEC admit they do not understand. Experts estimate the liabilities to be 55 trillion minimum to 1.5 quadrillion. The only people who can navigate the US out of this financial time bomb is the experts in AIG. If Obama cannot stop the bonuses, the infuriated Congress will stop bailout of AIG thus leading to US collapse. On the otherhand if Congress punishes AIG thru taxes, the experts in AIG will walk, leaving the US with no experts to lead us out of the derivative mess thus triggering a financial crisis that can lead to a financial meltdown. No matter how we feel about the bonuses (majority anti, some pro) AIG/derivative mess is one of the most potent financial time bomb in the US economy and Congress inadvertently is playing with the fuse.


12 posted on 03/17/2009 6:11:19 PM PDT by Fee (Peace, prosperity, jobs and common sense)
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To: tobyhill

This journalist may have greatly jeopardized her carrier at AP because she wrote about the truth.


13 posted on 03/17/2009 6:12:11 PM PDT by jveritas (God Bless our brave troops)
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To: Krankor
Obama lying to the public is different than lying under oath so the first thing needs to be done is put him under oath and ask him straight up when he knew.
14 posted on 03/17/2009 6:12:20 PM PDT by tobyhill (Obama gets no free pass from Free Republic!)
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To: tobyhill

“What did the President know, and when did he know it?”


15 posted on 03/17/2009 6:12:26 PM PDT by motor_racer (What is the color of the boathouse at Hereford?)
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To: Fee
55 trillion dollars? That is 4 times the size of our GDP and equal to the world total GDP.

1.5 quadrillion dollar? that is 1,500 trillion dollars. That is all the total wealth in the US and the world.

16 posted on 03/17/2009 6:15:43 PM PDT by jveritas (God Bless our brave troops)
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To: tobyhill

Didn’t Geitner WRITE THE BILL they are talking about? So he doesn’t know how to do his taxes on Turbo Tax and he didn’t write the bill he was heralded as needing a crook in the IRS office because he was the “genius” that wrote the bill he claims he didn’t know what was in.


17 posted on 03/17/2009 6:23:18 PM PDT by autumnraine (Freedom's just another word for nothing left to lose- Kris Kristoferrson VIVA LA REVOLUTION!)
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To: WesternPacific
I believe Dodds inserted a provision into the Stim. bill to protect the exect’s bonuses.

HEY DODD! INSERT THIS!


18 posted on 03/17/2009 6:26:06 PM PDT by jaz.357 (Ars longa, Vita brevis)
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To: Lorianne
Chris Dodd knew, he put the fix in the stimulus bill.

Yes they knew, and yes they knew they had LEGAL contracts.

Allow government to break LEGAL contracts, destroy freedom.

The real outrage should be directed at the government causing AIG to fail with their home loan policy.

19 posted on 03/17/2009 6:26:22 PM PDT by Tarpon (It's a common fact, one can't be liberal and rational at the same time.)
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To: bigbob
Lies for the purpose of distracting attention from all his other, daily, screw-ups.

I think it's a whole lot of to-do about something they were fully aware of in an effort to distract attention from the fact that in two weeks the House and Senate are planning a vote on the Obama 2010 budget.

That thing wasn't going well as people realized the details of it, so now they've manufactured a new news story to keep the budget out of the headlines.

20 posted on 03/17/2009 6:29:06 PM PDT by SittinYonder
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To: tobyhill

You should ask the mod to put this in the breaking news section. It belongs there.


21 posted on 03/17/2009 6:29:09 PM PDT by jveritas (God Bless our brave troops)
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To: tobyhill

Excellent, the mods moved it to the breaking news section.


22 posted on 03/17/2009 6:31:20 PM PDT by jveritas (God Bless our brave troops)
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To: jaz.357

That’s what Barney said...


23 posted on 03/17/2009 6:31:20 PM PDT by GraniteStateDad (I can't believe we elected a president with Hussein as his middle name!)
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To: tobyhill

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.

Next they'll say HUSSEIN is Christian!!

24 posted on 03/17/2009 6:33:29 PM PDT by Rome2000 (Peace is not an option)
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To: tobyhill
The government owns 80% of AIG and should have a representative at he highest levels. I believe this whole episode has been known by Obama and his minions since the date of disbursement was determined. What we are hearing is pure grandstanding and phony - and needs to be exposed as such.
25 posted on 03/17/2009 6:33:39 PM PDT by elpadre (nation)
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To: tobyhill

Obama’s telepromter has issued a full denial!


26 posted on 03/17/2009 6:35:25 PM PDT by topfile
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To: elpadre

Good old Associated Press, run by the likes of this beast and her coven of minor league propagandists.

I wonder what they are going to do when there aren't any newspapers left.

27 posted on 03/17/2009 6:36:27 PM PDT by Rome2000 (Peace is not an option)
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To: Tarpon

This crap has to end.

The Democrats caused almost all of this debacle.

The Community Reinvestment Act. Mark to market.

We must educate the American public to the effect that GOVERNMENT has upon their jobs, their employer, and there well being. Most people wake up and go to work. They may not like their boss, but they have to understand that the government cannot pay anyone anything that they do not take from someone else.

The FREAKING liberals have dumbed down the public so much that they no longer think with anything close to common sense.

I don’t like rich people. Never had. They don’t bowl, drink beer, smoke cigarettes or hang out with people like me. BUT, I don’t hate them either. They start companies. Hire middle class people like me. Pay us well when we contribute to the bottom line. Take the risks that some of us try but might fail at.

The DEMOCRATS have screwed up this country for too long.
Republicans are not GOD but they offer the last hope for this country if they will just get a set of NADS and be directly honest for a change.

Tell people the truth. If you are not willing to go to school or work in a hard profession, you will sit on a street corner with your pants hanging below your ass and wonder why the “man” has been keeping you down for so long.


28 posted on 03/17/2009 6:36:37 PM PDT by Bayou Dittohead (Why they hate Israel?)
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To: Fee
The only people who can navigate the US out of this financial time bomb is the experts in AIG.

You do realize how hilarious that is, don't you?

29 posted on 03/17/2009 6:38:19 PM PDT by Minn (Here is a realistic picture of the prophet: ----> ([: {()
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To: Fee

It’s not about the bonuses. That’s a diversionary tactic. We should never have bailout AIG (or anyone else) in the first place ... and they know it.

Everyone was on the take on this one.


30 posted on 03/17/2009 6:38:20 PM PDT by Lorianne
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To: Lorianne

American International Group: All Recipients
Among Federal Candidates, 1989-2008
Total: $4,362,625

Name Total Contributions
Dodd, Chris (D-Conn) $280,238
Bush, George W (R-Texas) $200,560
Schumer, Charles E (D-NY) $111,875
Obama, Barack (D-Ill) $107,332
McCain, John (R-Ariz) $99,249
Baucus, Max (D-Mont) $90,000
Kerry, John (D-Mass) $85,000
Johnson, Nancy L (R-Conn) $75,400
Sununu, John E (R-NH) $69,049
Clinton, Hillary (D-NY) $59,515
Lieberman, Joe (I-Conn) $57,900
Rangel, Charles B (D-NY) $53,582
Giuliani, Rudolph W (R-NY) $50,250


31 posted on 03/17/2009 6:40:39 PM PDT by FlyingEagle
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To: tobyhill

It’s really too bad for Barry’s utopian plans that this issue arose so quickly. Now people get a real good look at the thorny issues created by government ownership of industries.


32 posted on 03/17/2009 6:42:50 PM PDT by Minn (Here is a realistic picture of the prophet: ----> ([: {()
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To: WesternPacific; tobyhill
From page H1412 of the Final Stimulus Bill, ``SEC. 111. EXECUTIVE COMPENSATION AND CORPORATE GOVERNANCE: "(iii) The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a writte employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary."

Stimulas Bill

33 posted on 03/17/2009 6:45:32 PM PDT by Spunky
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To: Krankor

ObounusGate


34 posted on 03/17/2009 6:46:09 PM PDT by NoLibZone (To save our nation a Strongly Worded e-mail may be in order.)
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To: NoLibZone

Hey, I like that.


35 posted on 03/17/2009 6:48:19 PM PDT by Krankor (Vitajex, whatcha doin' to me.)
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To: tobyhill

"We know nothing. Nothing!"

36 posted on 03/17/2009 6:50:22 PM PDT by Mad_Tom_Rackham (The inmates are now officially running the asylum.)
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To: jveritas; Admin Moderator
Thank you for moving this to Breaking. It looks like the MSM is finally catching on to what Freepers have been yelling for years.
37 posted on 03/17/2009 6:51:54 PM PDT by tobyhill (Obama gets no free pass from Free Republic!)
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To: elpadre

Would the Republican party please wake up and start shouting some of this stuff from the rooftops!
This isn’t comical - it’s criminal!
Frank and Dodds should be behind bars!


38 posted on 03/17/2009 6:56:48 PM PDT by GraniteStateDad (I can't believe we elected a president with Hussein as his middle name!)
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To: tobyhill

lying pond scum.

that has a nice ring to it.


39 posted on 03/17/2009 6:59:00 PM PDT by SusaninOhio
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To: GraniteStateDad
These clowns wrote the law and Obama signed it after they dropped the bonus limitation provision so there's no way they didn't know this was happening.
40 posted on 03/17/2009 7:02:31 PM PDT by tobyhill (Obama gets no free pass from Free Republic!)
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To: tobyhill

That is a big story Toby. The socialist liars first intended to use this AIG bonuses as distraction tactics to cover the massive failure and their disastrous socialist policies that they are bringing on the country but now this is backfiring on them.


41 posted on 03/17/2009 7:04:19 PM PDT by jveritas (God Bless our brave troops)
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To: All

This needs to be on Drudge with a Siren


42 posted on 03/17/2009 7:07:11 PM PDT by janetjanet998
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To: tobyhill
THE AP REPORTED THIS????


43 posted on 03/17/2009 7:08:31 PM PDT by Extremely Extreme Extremist ("President Obama, your agenda is not new, it's not change, and it's not hope" - Rush Limbaugh 02/28)
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To: GraniteStateDad

The US Attorneys don’t want to lose their jobs.


44 posted on 03/17/2009 7:09:35 PM PDT by elpadre (nation)
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To: jveritas

I think it is providing a smokescreen for the billions of tax payers money given to foreign banks by AIG - the biggest blunder.


45 posted on 03/17/2009 7:11:32 PM PDT by elpadre (nation)
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To: elpadre

That too.


46 posted on 03/17/2009 7:13:06 PM PDT by jveritas (God Bless our brave troops)
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To: elpadre
They don't need smokescreens, there's plenty of room to expose it all.
47 posted on 03/17/2009 7:13:33 PM PDT by tobyhill (Obama gets no free pass from Free Republic!)
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To: tobyhill

I hope there is actually something done about this other than another news story


48 posted on 03/17/2009 7:16:24 PM PDT by truthandlife ("Some trust in chariots and some in horses, but we trust in the name of the LORD our God." (Ps 20:7))
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To: tobyhill
IMPEACH THE OLIAR
49 posted on 03/17/2009 7:17:16 PM PDT by Carling ("We've lost two people in my family because you dickheads won't cut trees down," - Warwick Spooner)
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To: WesternPacific

Ah that Bill was signed by Obama...

So is Obama saying he signs things that he has no idea what is in it? I think that makes him the most naive President in the history of this country.

Didn’t he take the time to read it after he said it was so important that we RUSH RUSH RUSH it through. No he didn’t read it, his staff didn’t read it, no one read it they just signed away our children and grandchildrens inheritance.

and now the Soviets and China are taking advantage of this crisis to which they will actively pursue the destruction of this country. Will Obama go along willingly? Remember all totalitarian minds think alike (Never let a good crisis go to waste)


50 posted on 03/17/2009 7:21:21 PM PDT by Typical_Whitey (We are living in The Night Of The Obama Zombies)
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