Saturday, March 28, 2009

AIG Bonuses: $33.6 Million for 52 People Who Have Left the Company

You just can't make this stuff up (note the 33).

And....a mystery mole fought to keep the bonuses in the stimulus bill--
Who in the Obama Administration pushed to weaken a key anti-bonus provision in the stimulus bill last month? Sen. Chris Dodd, who wrote the provision -- and ultimately agreed to defang it -- isn't saying.
More outrage--
Goldman Sachs and a parade of major European banks, including Deutsche Bank , France's Societe Generale and the UK's Barclays , were major beneficiaries of more than $90 billion (64 billion pounds) of money paid out by AIG in the first three-and-a-half months after its bailout by the U.S. government last September.

The disclosure by AIG on Sunday is likely to trigger further criticism of why Goldman, with its many government links, and the European banks were funnelled such huge sums of U.S. taxpayer money after making bad bets on various securities, as well as strengthening the case of those who believe the whole bailout was botched.

And definitely-- Geithner needs to go (Treasury knew about AIG bonuses earlier than Geithner claims).

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