It would appear that Obamas administration just committed the same mistake AIG did when it funded bad loans and ran poor investment operation, would it not be prudent to find out what they owe who before you give them the checkbook? OPM the only way to loan money!
The bulldog Geithner threatens “He also said the Treasury would deduct $165 million from the $30 billion in additional taxpayer funds announced for AIG March 2.”
Scary! he is going to hold back 165 million from 30 billion. AIG must be scrambling for a defense. Oh that’s right they will just ask for more later and this useless administration will give it to them.
Stop blaming Obama. (and I’m not defending him) He was handed this ticking bomb by George Bush. He didn’t create the problem and to think he and his administration can solve it after 8 weeks is ignorant and un-realistic. The man is trying. The country and media should get behind him and support him or else come up with a better plan. I wouldn’t blame Obama if he told the Senate and Congress to shut up and kiss his a ss. Does anyone really think the other presidential candidate would have been more successful? Congress let the money go and failed to provide sufficient conditions and stipulations regarding what it could not be used for. The idiots in the Senate were too busy with steroids and baseball to pay attention to the national economy. There’s plenty of incompetence to go around. The people should be p issed at their elected officials of the past 8 years who were asleep at the switch.
Obama is nothing more than a puppet, he has been his whole life and he will continue to be. It doesn’t matter who is President because congress destroys everything regardless. BO just looks nice when he holds press conferences and lies to us on a daily basis. Sadly this country appears to only be headed for worse times and not better because incompetence spreads through our government like a loose plague.
The Dems did not put together a $787B spending bill BECAUSE of the economic crisis….they did it IN SPITE of the economic crisis. They had their spending agenda ready and waiting for the day Obama took office. They were not about to let a little thing like an economic crisis stop them from forcing their massive social programs down our throats. The fact that they can stand before us and claim it’s necessary to stimulate the economy goes to show just what they really think of us, their constituents….
The real blame rests with the Congress. Congress pass all the bills, and claims that they did not know. Why doesn’t the Congress read the bills before having the President sign the bill into law. The President has lttle to do with the economy. The Congress should admit to their mistakes in draft these packages so swiftly.
The sad thing is we the people have the power to clean house but it never gets done. We keep voting in the same cast of characters time after time. There should be no such thing as a career politician. Until the American people get truly fed up and angry, we will continue to reap what we sow.
THEY ARE HIDING THE FACT THAT 75% OF THE BAILOUT PAID TO AIG WENT TO FOREIGN COUNTRIES AND THIER BANKS. ALSO PAULSON AND TAX CHEAT GIETNER MADE SURE THEIR PRIOR EMPLOYER GOLDMAN SACHS GOT THEIR MONEY BACK FROM AIG FIRST.
I THINK WE SHOULD CLAW BACK ALL THE SALARY WE PAY CONGRESS, SINCE THEY ARE DOING JUST AS GOOD A JOB AS THE DIRIVATIVE TRADERS HAD DONE.
congress was supposed to regulate this and that and this and that….but it never got done or it was already too much of a mess…we have seen it over and over again, the re-election of our congress but they do the same thing…when will we start taking them into a hearing as to why they can not get their act straight…afterall, they went into the baseball maneuver, when surely it’s not a nation crisis or issue…spending our tax dollars for what? a hearing that is not even their’s to discuss…we always talk abou frivilous spending, how much are spending on these congresman and trips that are social events and not fact finding…as a taxpayer, i definately want a refund w/interest…if that means AIG is paying me, sure!…how many folks live in the US? 80% of the share belongs to us, so what does it pay? um..um..
The article states that Obama inherited the recession and the crisis from the Bush Administration. We need to remember that Obama was a sitting Senator for the prior two years and passed legislation, regulated (or failed to regulate)the excesses and abuses, and actually stood in the way of those wanting to reign in the markets. Yes, Bush had a part. But don’t put the blame all on him.
Fannie plans bonuses of up to $611K for 4 execs
2:09 PM EDT March 18, 2009
Fannie Mae plans to pay retention bonuses of as much as $611,000 each to key executives this year as part of a plan to keep hundreds of employees from leaving the government-controlled company.
Rival mortgage finance company Freddie Mac is planning similar awards, but has not yet reported on which executives will benefit.
The two companies, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults. Fannie recently requested $15 billion in federal aid, while Freddie has sought a total of almost $45 bil
This is some SERIOUS bread and circuses.
AIG bonuses were WHAT percentage of the total AIG bailout?
The total AIG bailout was WHAT percentage of the total bailout spending increase?
Where SHOULD the outrage be?
It would appear that Obamas administration just committed the same mistake AIG did when it funded bad loans and ran poor investment operation, would it not be prudent to find out what they owe who before you give them the checkbook? OPM the only way to loan money!
Let’s see, Chris Dodd wrote the bill approving the bonuses, and then he was the first to cry out once the press got wind of the payouts.
The country has a bad case of BO – time to cleanse us of that stench.
Shame we can’t replace the lot of them with a lack of confidence vote, now – starting with Obama.
The bulldog Geithner threatens “He also said the Treasury would deduct $165 million from the $30 billion in additional taxpayer funds announced for AIG March 2.”
Scary! he is going to hold back 165 million from 30 billion. AIG must be scrambling for a defense. Oh that’s right they will just ask for more later and this useless administration will give it to them.
Stop blaming Obama. (and I’m not defending him) He was handed this ticking bomb by George Bush. He didn’t create the problem and to think he and his administration can solve it after 8 weeks is ignorant and un-realistic. The man is trying. The country and media should get behind him and support him or else come up with a better plan. I wouldn’t blame Obama if he told the Senate and Congress to shut up and kiss his a ss. Does anyone really think the other presidential candidate would have been more successful? Congress let the money go and failed to provide sufficient conditions and stipulations regarding what it could not be used for. The idiots in the Senate were too busy with steroids and baseball to pay attention to the national economy. There’s plenty of incompetence to go around. The people should be p issed at their elected officials of the past 8 years who were asleep at the switch.
Obama is nothing more than a puppet, he has been his whole life and he will continue to be. It doesn’t matter who is President because congress destroys everything regardless. BO just looks nice when he holds press conferences and lies to us on a daily basis. Sadly this country appears to only be headed for worse times and not better because incompetence spreads through our government like a loose plague.
The Dems did not put together a $787B spending bill BECAUSE of the economic crisis….they did it IN SPITE of the economic crisis. They had their spending agenda ready and waiting for the day Obama took office. They were not about to let a little thing like an economic crisis stop them from forcing their massive social programs down our throats. The fact that they can stand before us and claim it’s necessary to stimulate the economy goes to show just what they really think of us, their constituents….
The real blame rests with the Congress. Congress pass all the bills, and claims that they did not know. Why doesn’t the Congress read the bills before having the President sign the bill into law. The President has lttle to do with the economy. The Congress should admit to their mistakes in draft these packages so swiftly.
BINGO, Scary!
That’s it, in a nutshell – pun on purpose. What a mockery!
Somebody else also made the inciteful comment about Congress being more focused on Steroids than the economy …BINGO again!
Now, we’re talking. Obama, you can love him or hate him, it doesn’t matter. Congress is where all this rubber hits the road.
Sweep them all out and start over again…
The sad thing is we the people have the power to clean house but it never gets done. We keep voting in the same cast of characters time after time. There should be no such thing as a career politician. Until the American people get truly fed up and angry, we will continue to reap what we sow.
THANK YOU Dread, for being right on with this one.
Quit this blaming BO for everything that began long before he took office.
THEY ARE HIDING THE FACT THAT 75% OF THE BAILOUT PAID TO AIG WENT TO FOREIGN COUNTRIES AND THIER BANKS. ALSO PAULSON AND TAX CHEAT GIETNER MADE SURE THEIR PRIOR EMPLOYER GOLDMAN SACHS GOT THEIR MONEY BACK FROM AIG FIRST.
I THINK WE SHOULD CLAW BACK ALL THE SALARY WE PAY CONGRESS, SINCE THEY ARE DOING JUST AS GOOD A JOB AS THE DIRIVATIVE TRADERS HAD DONE.
congress was supposed to regulate this and that and this and that….but it never got done or it was already too much of a mess…we have seen it over and over again, the re-election of our congress but they do the same thing…when will we start taking them into a hearing as to why they can not get their act straight…afterall, they went into the baseball maneuver, when surely it’s not a nation crisis or issue…spending our tax dollars for what? a hearing that is not even their’s to discuss…we always talk abou frivilous spending, how much are spending on these congresman and trips that are social events and not fact finding…as a taxpayer, i definately want a refund w/interest…if that means AIG is paying me, sure!…how many folks live in the US? 80% of the share belongs to us, so what does it pay? um..um..
The article states that Obama inherited the recession and the crisis from the Bush Administration. We need to remember that Obama was a sitting Senator for the prior two years and passed legislation, regulated (or failed to regulate)the excesses and abuses, and actually stood in the way of those wanting to reign in the markets. Yes, Bush had a part. But don’t put the blame all on him.
Fannie plans bonuses of up to $611K for 4 execs
2:09 PM EDT March 18, 2009
Fannie Mae plans to pay retention bonuses of as much as $611,000 each to key executives this year as part of a plan to keep hundreds of employees from leaving the government-controlled company.
Rival mortgage finance company Freddie Mac is planning similar awards, but has not yet reported on which executives will benefit.
The two companies, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults. Fannie recently requested $15 billion in federal aid, while Freddie has sought a total of almost $45 bil