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Thats right, I have a feeling this story is just starting. Starting to make the rounds, our great Treasury secretary was the man who was involved with the contracts on the bonuses.
This AIG Product division is going to go down as the worst Division in the history of hedge funds and just as well, Mr. Geitner will go down as the worst Treasury Secretary.
This is not about politics, I voted for Obama and agree with what he said about these derivative traders, but this is my last straw with Geinter.
Not sure about the bonuses, but I wouldn't be suprised.
Geithner and Paulson and Bernanke were indeed the original sponsors of the whole TARP fund bank bailout mess in 2008, including the massive bailouts to AIG. He is definetly working hand and hand with AIG although I don't know if that includes compensation negotiation. He definetly has some close working relationship with executives there.
Nevertheless, I find Obama's and Geithner's proclamation of "outrage" at the bonuses hilarious and cynical to the core. I hope people see right through that.
Geithner and Paulson are embedded in this system. They are not ex-University professors or informed observers. We have ex-Goldman Sachs employees, Ex-Federal Reserve bank of New York, IMF, FOMC and Council on Foreign Relations. etc. These guys have been in the middle of this for more than a decade. Lets dispense with the Geithner is new nonsense.
Dd714, you hit it right on the head. They are "outraged." What a joke. Again, I voted for Obama and hope things turn around, but man, talk about politics of the old.
Broadbill this was in either the New York Times or Post way back when in November. Talk radio is running wild(suprise, suprise since they are conservative)
Again where is the outrage over Geitner. I mean, real outrage. The guy cheats his taxes, then helps put together a contract where these derivative traders can legally keep their bonuses, but then comes out "outraged."
If you vote for most of the candidates in the major parties you are voting for the same party. Omaba is a CRF member. The CFR is a one party system that allows us to choose one of their candidates.
"Sen. Richard Shelby, the ranking Republican on the Senate Banking Committee, chastised the administration earlier Tuesday, saying Treasury Secretary Timothy Geithner should have blocked the payouts. Shelby charged that Geithner either knew or should have known about the bonuses. (http://finance.yahoo.com/news/Reid-Congress-intends-to-apf-14664278.html - broken link)
"We need to know, what are the details of this? When were the bonuses signed up? Who's getting it?" Shelby said. (http://finance.yahoo.com/news/Reid-Congress-intends-to-apf-14664278.html - broken link)
The Alabama senator stopped short of calling for Geithner's resignation, but said, "He's under fire from all sides now." (http://finance.yahoo.com/news/Reid-Congress-intends-to-apf-14664278.html - broken link)
"I don't know if he should resign over this," Shelby said. "He works for the president of the United States. But I can tell you, this is just another example of where he seems to be out of the loop." (http://finance.yahoo.com/news/Reid-Congress-intends-to-apf-14664278.html - broken link)
Yep it is all connected, Paulson with Goldman, Big Ben, etc. Geitner has got to go or I have lost all faith in Obama. I voted for him knowing it will take time with the economy, health care, etc.
But this has gotten crazy with Geitner, either he is so nieve he should not be Treasury Secretary(my hope) or he is knowingly doing this and a complete liar.
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