You like the showmanship spectacle, doncha, s***-chewing 'murkn?
"Obama seeks to stop AIG bonuses; Amid outrage, Geithner tries to recoup cash" by Michael Kranish, Globe Staff | March 17, 2009
Wow, did you feel that hot fart mist of a breeze?
Update: Obama Received a $101,332 Bonus from AIG
WASHINGTON - Joining a chorus of outrage, President Obama vowed yesterday to use "leverage" from more than $170 billion in federal aid and "every single legal avenue" to try to block bonuses being paid to executives at insurance giant
How about NOT GIVING THEM the $$$$?
But the White House did not immediately explain how it might stop the $165 million in bonuses, or why it didn't restrict the payments before giving AIG the latest round of taxpayer support.
Because this is just a BIG FOOLEY and SHOW for the INFURIATED American public (of which I am one)!!!!!
Several banking specialists, however, said yesterday that AIG was on shaky ground in insisting that the bonuses must be paid, noting that the company probably would be in bankruptcy without the federal bailout - and thus in no position to follow through on the bonuses that were included in contracts negotiated last spring.
Which means the BAILOUT went for BONUSES, folks!! This is without a doubt the GREATEST LOOTING JOB in WORLD HISTORY!
The retention bonuses were sent on Friday, mostly to executives at AIG Financial Products, the unit that put the company at the brink of bankruptcy with risky bets on securities linked to the housing bubble....
Related: AIG Used Bailout Money For Bonuses, Gave Money to Banks
White House spokesman Robert Gibbs said that Treasury Secretary Timothy Geithner will redouble efforts to find any way to block the bonuses or recoup them, possibly by adding restrictions to the pending $30 billion government loan to AIG.
They told us they had all those, blah, blah, blah. How does it feel to have Obama blow smoke up your ass like Bush, America?
And it is NOT a LOAN!
New York State Attorney General Andrew M. Cuomo yesterday issued a subpoena for the names of the executives slated to receive the bonuses after AIG refused to release them voluntarily. An AIG spokeswoman told the Associated Press, "We are in contact with the attorney general and will of course respond to his request."
Yup, it's like PULLING TEETH to get that information as the TAXPAYER FUNDS are PASSED AROUND like a BONG at a Phelps party!!!!!
Obama's pledge yesterday stood in contrast to comments a day earlier by his chief economic adviser, Lawrence Summers, who said that the government could not simply order the company to violate the contracts.
While Obama sought to insulate himself and his ambitious economic agenda from the populist anger at AIG, reporters repeatedly pressed Gibbs to explain why Obama had not followed through on an earlier pledge to crack down on excessive compensation to executives at companies that receive taxpayer bailouts.
Oh, he just wants the ANGER to be DIRECTED SOMEWHERE ELSE after BREAKING ANOTHER PROMISE?!! Then PROSECUTE BUSH and CO for WAR CRIMES!!!!
Announcing new limits on executive pay on Feb. 4, Obama said he would "not tolerate" executives who take big compensation packages at the same time they receive government bailouts....
Ah, the smell of hot fart mist in the morning!
During the contentious briefing, Gibbs did not directly answer why pay restrictions were not already required in the latest loan. Instead, he said Obama wants Geithner "to exhaust all legal remedies in looking backwards to see what steps could be taken to block these bonuses."
This as he wants to LOOK FORWARD on TORTURE!! What a FUCKING FRAUD this CHANGE PRESIDENT turned out to be, huh?
Besides, it's TOO LATE!! The MONEY is GONE into some bankers' pockets!
AIG's CEO Edward Liddy, who took charge of the company after the bonuses were arranged, said in a letter Saturday to Geithner that while he finds the payments "distasteful," the company's hands were tied by the contracts: "Given the trillion-dollar portfolio at AIG Financial Products, retaining key traders and risk managers is critical to our goal of repayment."
I'm tired of looters offering up excuses for their thievery, aren't you?
Time to TAR, FEATHER, and HANG!!!!!!!!!!!!!!!!!!!!!
Word of the bonuses over the weekend prompted a series of tirades on television talk shows and news programs. Critics put the bonuses in contrast to workers in many industries who are being pressured to accept major cuts in pay and benefits or are losing their jobs.
That gets one paragraph!
The US government owns nearly 80 percent of AIG and has de facto control, but has stopped short of taking it over.
See: AIG Insured by AmeriKan Government
The US strategy is to keep the company afloat in hopes of avoiding a further economic meltdown that some believe would come if such a massive institution went bankrupt.
Why? So they can STEAL MORE TAXPAYER MONEY?
And SOME BELIEVE, huh?
"It may never be known whether the initial $700 billion plan accomplished its objectives"
On Sunday, the company disclosed the firms that it paid after the government bailout, which started with an $85 billion emergency loan from the Federal Reserve last fall.
Representative Barney Frank said yesterday that the government may not be able to stop the bonuses to AIG executives, but could try to kick them out of their jobs. "People may have a right to a bonus, but they don't have a right for a job forever," the Newton Democrat and chairman of the House Financial Services Committee said at a home foreclosure event in New Bedford. Frank said the government should look at legal avenues to overturn the bonuses and take a close look at the executives.
Yeah, NEITHER DO YOU, you smelly sack of s***!!!!
In a later interview, Frank said he wasn't sure whether the government could actually fire individuals at AIG involved in the matter since they have contracts with the company, but planned to raise the issue at a congressional hearing tomorrow.
Oooooh, BLUSTERING FART-MISTER BARNEY is going to raise the issue at a hearing! I'll bet AIG is shitting its pants!!
What an EMBARRASSMENT to Massachusetts that cock-sucker is!!!!!
Republicans also seized on the issue. Senator Richard Shelby, an Alabama Republican who led opposition to the bailout, said yesterday on ABC that "a lot of these people should be fired, not awarded bonuses."
Yeah, as if REPUBLICANS like ME are JOHNNY-COME-LATELY's and are trying to use the crisis for political advantage! I stand on PRINCIPLES, duck farts!!!!!
Two banking specialists questioned AIG's stance that it was contractually obligated to award the bonuses, noting AIG would be in no position to pay the bonuses if it had been put into bankruptcy, which almost certainly would have happened without the $170 billion.
Translation: YOUR "bailout" TAX MONEY was used for BONUSES, folks!!!
William Black, a former federal banking regulator, said the bonuses would be stopped immediately "if the company was put into bankruptcy."
Cornelius Hurley, a former assistant general counsel at the Federal Reserve Board, agreed AIG should be put through bankruptcy. "If they were in bankruptcy, any executive coming forward to ask for his bonuses would be laughed at," said Hurley, the director of Boston University's Morin Center for Banking and Financial Law. A bankruptcy judge "would say, 'Go to the end of the line and there is zero chance that you are going to recover.' "
And yet, THERE is OBAMA huffing and puffing -- while GIVING THEM THE MONEY ANYWAY!!
Yes, I truly love a big breakfast log of shit fooleys, don't you?
