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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: Cage Rattler who wrote (9304)	3/15/2009 3:12:07 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 103300

Excellent post!!! GZ

To: Cage Rattler who wrote (9304)	3/16/2009 1:47:04 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 103300

AIG payouts come under fire. AIG is under fire for both internal and external payouts. The insurer, which has accepted $173.3B in federal aid and is now 80% owned by U.S. taxpayers, will spend around $450M on bonus payments for employees at a business unit that lost $40.5B last year. CEO Edward Liddy said the firm's 'hands are tied' on the issue as the payments are 'legal, binding obligations of AIG,' but White House economic adviser Lawrence Summers lambasted the bonuses as 'outrageous.' After calls for increased transparency, the insurer disclosed yesterday that roughly two-thirds of the federal aid it received has been paid out to trading partners in the U.S. and abroad (including Goldman Sachs (GS), Societe Generale (SCGLY.PK) and Deutsche Bank (DB)). The disclosure indicates that taxpayer dollars are passing through AIG to make whole private businesses and foreign banks. AIG Faces Growing Wrath Over Payouts * MARCH 16, 2009 Troubled insurer American International Group Inc., now 80% owned by U.S. taxpayers, spent the weekend deflecting mounting criticism of how government funds have been funneled to various banks and used to pay employee bonuses at the business unit that almost sank the company. After calls for more transparency, AIG disclosed Sunday that roughly two-thirds of the $173.3 billion in federal aid it received has been paid out to trading partners such as banks and municipalities in the U.S. and abroad. The disclosures came as AIG was lambasted for about $450 million in bonus payments planned for employees at a business ... online.wsj.com