Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (6298)	3/18/2009 1:14:28 PM
From: RetiredNow	Read Replies (1) \| Respond to of 86355

More on AIG. what a fiasco. Looks like the AIG bonuses blindsighted Obama, but the question I have is why? Anyone could have predicted and prevented this from occurring, as Wyman and Snowe did when they introduced their legislation to block excessive bonuses being paid out of bailout funds... Obama Administration: We Didn't Find Out About AIG Bonuses Until This Month March 17, 2009 7:18 PM Sources in the Obama administration Tuesday said that despite previous media reports administration officials did not know until a couple weeks ago that the officials of the controversial AIG Financial Product Division were set to receive $165 million in bonuses on March 13. It wasn't until Thursday, March 5, 2009, administration sources told ABC News, that officials of the Federal Reserve Bank of New York informed officials of the Treasury Department of the full extent of the $165 million in bonuses pending for the controversial Financial Products Subsidiary. This was three days after the Obama administration had already announced a new commitment of an additional $30 billion for AIG. blogs.abcnews.com