Chris Dodd (Chairman of the Senate Committee on Banking, Housing, and Urban Affairs), anticipating a possibly already lost tough election in 2010 is a FAKE in regards to his anti-AIG proposals. The fake Chris Dodd outrage about AIG bonuses is a coverup for the fact that it was Chris Dodd who enabled the AIG bonuses.
While the Senate was constructing the $787 billion stimulus last month, Dodd added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009” — which exempts the very AIG bonuses Dodd and others are now seeking to tax.
The amendment made it into the final version of the bill, and is law.
Fake Obama, like Chris Dodd, is an AIG fake too. Obama appointed tax cheat and AIG fake Tim Geithner. Geithner helped turn the dead AIG into a fake AIG looting the American economy:
He will effectively lead the team Mr. Obama has chosen to mend a crippled economy. [snip]
But Mr. Geithner’s involvement in several ultimately ill-fated efforts to buttress the American financial system is the very reason some Wall Street C.E.O.’s — a number of whom spoke on the condition of anonymity for fear of piquing the man who regulates them — question whether he’s up to the challenge.
“We have only two things to say about Tim Geithner, who we do not know: A.I.G. and Lehman Brothers,” said Christopher Whalen of Institutional Risk Analytics. “Throw in the Bear Stearns/Maiden Lane fiasco for good measure,” he said.
“All of these ‘rescues’ are a disaster for the taxpayer, for the financial markets and also for the Federal Reserve System as an organization. Geithner, in our view, deserves retirement, not promotion.”
“He was in the room at every turn of the crisis,” said another executive who participated in several such confidential meetings with Mr. Geithner. “You can look at that both ways.” [snip]
Behind the scenes, Mr. Geithner was the point person for weeks of sleep-deprived Bailout Weekends. It was Mr. Geithner, not Mr. Paulson, for example, who put together the original rescue plan for the American International Group.
Fake Barack Obama is faking AIG outrage but still supports and has “complete confidence” in tax cheat Geithner.
Hillary supporter Senator Robert Menendez warned Geithner earlier this month about corporate bonuses with taxpayer money but tax cheat Geithner did nothing.
“I am writing to express my concern regarding reports of financial firms that have accepted government loans adopting compensation policies that may circumvent restrictions on executive compensation,” Menendez wrote. “I urge you to investigate these reports and ensure that companies accepting taxpayer dollars comply.”
Menendez also did a pretty good job anticipating AIG’s legal argument for maintaining the bonuses — and predicted that some firms would back-date big cash payments to execs after they had returned their TARP funds to the feds.
“Awarding excessive bonuses to executives who have driven their companies to the brink of collapse would seem to be fundamentally backwards, Using taxpayer funds to make these payments would be offensive and illegal… I urge you to examine whether this action is in fact an attempt to circumvent the law and public scrutiny.”
Here’s something neither Obama nor Grassley answered in their bellicose remarks Monday: Why did it take so long for the president and senior lawmakers to get so worked up? More troubling, why did it take so long for them to discover AIG planned to give huge bonuses in the first place? [snip]
The bonuses were essentially a nonissue when AIG got its initial bailout money, almost $150 billion under President Bush in the two months surrounding the presidential election. Joe Biden, then the vice presidential nominee, came out strongly against the bailout. Obama did not.
Timothy Geithner, then at the New York branch of the Federal Reserve, was a huge proponent and architect of the AIG bailout. So if Obama had strong private opposition to the idea it did not affect his pick for the person who would oversee all bailouts.
The bonuses were again a nonissue when Obama himself increased the bailout to $173 billion last month.
Obama is now faking outrage along with Senator Dodd. But Obama and Dodd took the most AIG money in 2008 (John McCain and Hillary also took AIG money but they have integrity and a record of fighting for what is right and they have very little to do with the current scandal – if they had anything to do with these scandals Big Media would incinerate them) and then aided and abetted AIG in looting the American economy and American taxpayers. Big Pink, like Joe Biden, opposed the bailout scams at a time when it was difficult to just say “no” due to the fearmongering demands that the bailouts proceed.
There were other solutions to the financial situation (such as the one former AIG chief Hank Greenberg proposed) which made more sense that the plunder bailouts. Teacup Socialism for rich Obama friends and cutthroat capitalism for the poor and the middle class is what we have opposed and what the bailouts represent.
AIG is now fear mongering again about potential collapse.
Fake Obama will loot the American economy and taxpayers and continues to support tax cheat Geithner even as he continue to express FAKE outrage. Fake Obama – he proved Tuesday that he knows something about rear-covering as well.
FAKE Barack Obama cannot be trusted…. Obama is faking outrage because, like Chris Dodd worried about his own imperiled re-election next year, Obama and Dimocrats are afraid Americans are waking up:
The outrage spurred on Capitol Hill and among the public at large by the $165 million in bonuses — and the haste with which the White House rushed to respond — underscored a new reality: This is President Barack Obama’s bailout now.
AIG’s woes threaten to severely complicate Obama’s hopes of returning to the well — again — for more bailout cash. His administration has already hinted at another $750 billion in bailout funds, but public opinion and congressional resistance will make that a tough sell. [snip]
But there are parts of Obama’s current political predicament that look like self-inflicted wounds.
Just two weeks ago, for instance, Gibbs told reporters that he was confident that the administration knew where the previous $150 billion in AIG bailout funds had gone.
And Monday, administration officials scrambled to come up with a way to get the $165 million in AIG bonus money back — after insisting repeatedly Sunday that they had done everything in their power to do so but simply came up short.
It wasn’t clear yesterday why the Obama administration hadn’t tried to stop the bonuses in its March 2 agreement with AIG — which sets out another $30 billion in bailout funds.
What did Obama know and when did he know it? Americans know Obama is now responsible for the mess the economy is in:
As Bush fades in the rearview mirror, Obama’s eight weeks in office seem like plenty to start making the economy’s wins and losses his own, at least in the public mind.
If there’s a sense that Obama didn’t wisely manage the AIG bailout, or any other, the public is more and more likely to associate the controversy with Obama himself, which could sap his credibility as he continues to try to manage the economy.
And for all of Gibbs’ talk of Bush, Obama’s moves Monday made clear that he knows what’s at stake politically.
The Obama outrage is fake:
That’s a much different tone than that adopted by Obama’s economic adviser Lawrence Summers just 24 hours earlier. On the CBS program “Face the Nation,” Summers said that AIG had ironclad contracts guaranteeing the payments to its employees, and that Treasury had little power to break the deals. “Secretary Geithner has negotiated very forcefully with AIG. He has done everything that is legally permissible for the government to do to limit the payment of bonuses,” Summers said Sunday.
Why are there “ironclad” contracts for Obama friends and yet union members have to renegotiate their contracts in order to get bailout money? Obama and the Dimocrats are afraid the American people are waking up:
Still, a new poll out from the Pew Research Center for the People & the Press showed that voters, too, are increasingly angry about bank bailouts — even more so than about money going to homeowners in default on their mortgages.
Forty-eight percent said they were “angry” about the bank bailouts, and 87 percent said they were at least bothered by the spending. Even many people who support the bailouts told Pew Research Center pollsters that they’re angry at the banks. [snip]
“It’s absolutely partly their fault,” said Peter Morici, a professor of international business at the University of Maryland. As Congress did with the automakers, the administration should have conditioned its aid to AIG on renegotiation of its labor contracts, he argued.
Obama’s AIG outrage is absolutely fake as demonstrated yesterday:
Obama seemed to acknowledge that he knew his role today was to come across as outraged as possible as he denounced the AIG payments. After a brief cough, Obama offered a smile and an unscripted aside: “Excuse me,” he said. “I’m choked up with anger here.”
Obama coughs mildly then smiles and fakes his outrage about being “choked up”. It reminds us of when George H.W. Bush used to read the cues written into his speeches “Message: I care.”
Americans are waking up to Obama’s fake “choked up” bamboozle:
President Obama’s apparent inability to block executive bonuses at insurance giant AIG has dealt a sharp blow to his young administration and is threatening to derail both public and congressional support for his ambitious political agenda. [snip]
The populist anger at the executives who ran their firms into the ground is increasingly blowing back on Obama, whom aides yesterday described as having little recourse in the face of legal contracts that guaranteed those bonuses.
White House press secretary Robert Gibbs, peppered with questions about why the president had not done more to block the bonuses at a company that has received $170 billion in taxpayer funds, struggled for an answer yesterday afternoon. He explained that government lawyers are “looking through contracts to see what can be done to wrest these bonuses from their recipients.” [snip]
But the damage control did not seem to satisfy incredulous lawmakers in both parties, who said the image of financial executives taking huge bonuses from a taxpayer-funded rescue puts the president in a politically impossible position.
“I warned them this would be met with an unprecedented level of outrage,” Sen. Christopher J. Dodd (D-Conn.), the chairman of the banking committee and part of a group of senators who pressed Treasury Secretary Timothy F. Geithner to stop the bonuses, said yesterday.
We are in the Age of Fake for sure when we hear Chris Dodd “warn” Tim Geithner about AIG bonuses.
Next, we’ll hear Obama warn Caroline Kennedy about Antoin “Tony” Rezko.