Fed failed to tell Obama admin about AIG bonuses

Fed failed to tell Obama admin about AIG bonuses

www.huffingtonpost.com

Federal Reserve officials knew for months about bonuses at American International Group but failed to tell the Obama administration, according to government and company officials, exposing problems in a relationship that is vital to addressing the financial crisis.

As pressure mounted on AIG employees to return the bonuses, new details emerged yesterday about what the Fed, the Treasury Department and the White House knew regarding the payments and when. AIG executives said the Fed was informed

(visit the link for the full news article)

I don't know who is to blame for this whole mess.

Could this prove what Alex Jones earlier said about Obama being more than a puppet?

I actually believe and disbelieve this news item. I think that they could have withhold the information from him so he wouldn't act on it to produce public outrage... but also how could Obama not have known about this until last Thursday?

Obama really has to explain himself here. I'm lost.

www.huffingtonpost.com
(visit the link for the full news article)

reply to post by Frankidealist35


I think this is more of a, well I didn't know because of a lack of communication. This excuse is used all the time. I am going to side that he knew and now trying to cover himself.

I have been saying it is the Feds doing all along.
They are our favorite antagonists, or used to be, on ATS.

They need to be looked at very closely.

I give it one or two more posts before POSS shows up(professional obama slander squad) and starts yelling about lies and hate and starring and flagging each other.

[edit on 19-3-2009 by nixie_nox]

The bonuses were part of the Stimulus package that Obama signed several weeks ago.

If he "didn't know about them" that means that he doesn't bother to read the bills he signs into law. That doesn't give me warm, fuzzy feelings towards the President or the Democrats (who wrote the Stimulus bill in the first place).

Source

They all knew about it, pushed for the protection language in the Stimulus bill, and are now trying to pass the buck as to who knew what when.

Already posted and disproven.

www.abovetopsecret.com...

They knew exactly what they were doing. All of them.

Check out this thread of mine Frankidealist3, it's about the same thing.

There's a couple of posts with interesting information and opinions on there.

Everyone is scrambling and trying to cover their butts, including the President. Dodd points to the Geightner, Geightner does the right thing and shuts up, Dodd then says he did it because he was told to and now the Obama admin points to the FED.

This is what happens when you shove a spending bill through the process so fast nobody can read it. I hope this bites who wrote it, drafted it and signed it in the butt.

One other thing that needs to be mentioned: Oregon Democratic Senator Ron Wyden is also pointing the finger at the Obama administration along with Chris Dodd.

Wyden: I Told You So

Wyden expressed frustration that Obama’s economic team, including Treasury Secretary Tim Geithner and top White House economic aide Lawrence Summers refused to support his amendment to block such bonuses.

[edit on 19-3-2009 by vor78]

Originally posted by skeptic1
The bonuses were part of the Stimulus package that Obama signed several weeks ago.

If he "didn't know about them" that means that he doesn't bother to read the bills he signs into law. That doesn't give me warm, fuzzy feelings towards the President or the Democrats (who wrote the Stimulus bill in the first place).

Source

They all knew about it, pushed for the protection language in the Stimulus bill, and are now trying to pass the buck as to who knew what when.

AIG Bonus Was In Stimulus Bill
Eric Cantor talks to Morning Joe

www.thehopeforamerica.com...

I am going to say they are all so incompetent, they didn't know, remember Obama flew to Chicago to shoot hoops and dinner, while Pelosi rushed outta town to meet the pope.

A plague on them all, scabies and lice comes to mind.

[edit on 013131p://bThursday2009 by Stormdancer777]

reply to post by Stormdancer777


Speaking of Pelosi...

Don't blame us for AIG mess.

"This is Senate-White House language. ... This was never brought to conference," Pelosi said, even though the final language on bonuses was in fact in the conference report on which House conferees (including Pelosi) signed off and that the House approved.

In other words, don't blame us. We're just clueless and voted for the damn thing anyway.

reply to post by vor78



They wrote the bill. They signed the bill. Now, they say they don't know what was in it?? :shk:

Am I the only one who thinks these fools in DC are completely incompetent??

reply to post by skeptic1


You are definitely not the only one that thinks this a bunch of incompetent fools. It reminds me of their BS from a few years ago (I think it was with the Patriot act) where most of the Dems voted for it and once the public got angry about it, they later basically said, 'Oh, its not OUR fault. You didn't actually expect us to READ what we voted for???'



[edit on 19-3-2009 by vor78]

Double post.....

[edit on 3/19/2009 by skeptic1]

The Fed didn't tell Obama because they don't have to. From what I've heard and read the Fed is a privately chartered organization and not a government body (like Federal Express). A private organization doesn't need to disclose private dealings to the government unless demanded by a court.

Unless, of course, I'm somehow wrong about the Fed being privately chartered.

reply to post by Shadowflux


You're not wrong.

It doesn't matter, though. Without even taking into account the apparent fact that they had the restrictions on bonuses stripped from the bill, the Obama administration supported the bill. He signed it. Its his responsibility once his name is on it, just as it was with the 61 Senators that voted for this piece of crap. They own it.

They're all either just as guilty as AIG, or they're all incompetent because they didn't have the intelligence to understand the ramifications of what they were signing and approving.

[edit on 19-3-2009 by vor78]

reply to post by vor78


All I can say is this is what happens when you have a private corporation with it's own interests at heart in charge of a nation's economy especially when said nation is run by patsy puppet leaders who are closely tied to the private interests in both personal and economic ways. Obama and the rest of our "representatives" are all beholden to this and the other corporations that actually run our country. America is a business apparently and Obama is just another employee.