I have a bit ogf a twist. Those bonuses were contractural obligations that were around BEFORE the details of their stimulus money were worked out. How come 'Turbo Tax' Geithner and Obama didn't catch it then? Now they act like a deer staring at the front of an oncoming Peterbilt when AIG execs are getting bonuses when they knew it all along! Plus, the bonuses are ONLY .0024% of their bailout money.
They should never have taken the bonuses to start with. But, a contract is a contract and the Obama administration agreed to let those bonuses be included despite receiving bailout money. Only after public outrage has Obama had to act like they never saw it coming.
Associated Press:
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.
How come Obama and other democrooks don't have to pay back their AIG bonuses?:
Chris Dodd: $103,100
Obama: $101,332