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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: SeachRE who wrote (157284)	3/19/2009 2:25:18 PM
From: geode00	1 Recommendation Read Replies (1) \| Respond to of 173976

"Many of Geithner’s defenders say he doesn’t deserve blame. The Federal Reserve is overseeing AIG’s rescue, and the terms of the bailout program were set by the Bush administration last fall, Pascrell said. The inspector general for the Troubled Asset Relief Program said today President George W. Bush’s administration expected that bonuses would be paid at AIG in its November agreement to provide bailout funds to the insurer. The TARP contract between AIG and Treasury “specifically contemplated the payment of bonuses and retention payments to AIG employees, including AIG’s senior partners,” Neil Barofsky testified before a House Ways and Means oversight panel." --------------bloomberg I'm not a big fan of Geithner because he is too much like Paulson but Kashkari was talking about how the banks could go around the compensation restrictions. The cement-headed lackeys of WS still think that compensation equals performance and vice versa when those two things are often negatively correlated as in CEO pay. For a bunch of smart people, they are incredibly stupid.