Sources: Obama learned of AIG bonuses last week

[ducks]

http://news.yahoo.com/s/ap/20090318/...bama_aig/print

[ducks]

Gibbs sought to put the focus on bigger reforms ahead.

He said Obama wants both financial regulation reform and a new "resolution authority" to deal with giants like AIG that get into complex financial trouble. He said that authority would be used "in order to break apart, unwind and finally resolve the issues that we face with systemic risk."

Taking a series of questions about AIG from reporters in his daily briefing, Gibbs had no answers for many matters, including when Obama learned about the bonuses and why the president did not discuss them until a contractual deadline about the bonuses had passed last week.

[ducks]

Asked directly if Obama is satisfied that he found out about the bonuses in a timely fashion, Gibbs said: "Yes, the president is satisfied."

"The president certainly won't be satisfied until, moving forward, we have changed the way we do business in Washington, changed the way we do business on Wall Street, to ensure that there's a financial regulatory system that's in place in order not to find things like AIG happening again," Gibbs said.

[ducks]

Other Republicans said Democratic leaders last month killed a plan that would have forced financial ins utions to compensate taxpayers if they paid their executives large bonuses after receiving federal bailout money.

[Aggie Hoopsfan]

Other Republicans said Democratic leaders last month killed a plan that would have forced financial ins utions to compensate taxpayers if they paid their executives large bonuses after receiving federal bailout money.

Of course, Chris Dodd amended legislation to make sure that executive bonuses that companies agreed to prior to receiving bailouts were still honored.

Sure that had nothing to do with the 100K plus in campaign donations he got from AIG execs...

[jack sommerset]

Change

[Yonivore]

Change

Of the Hope kind.

[jack sommerset]

Of the Hope kind.

I don't think so but it is a change. Sad thing is we (USA) has to wait for a good "CHANGE"

[George Gervin's Afro]

So what? Seriously, what's the point of this thread?

[DarrinS]

So what? Seriously, what's the point of this thread?

It's just so you know that their "outrage" is fake.


I actually don't give a about this issue. If there was no bailout, we wouldn't even be talking about it.