MORE ON THOSE A.I.G. BONUSES: Lawmakers Turn Fire on Obama Administration Over AIG Bonuses. “Lawmakers outraged at bailed-out American International Group’s move to pay $165 million in executive bonuses are turning their fire on the Obama administration, asking why top officials didn’t act to prevent the pay-out earlier.”
In an interview with CNN, Dodd denied inserting that exemption at the 11th hour, and insisted he doesn’t know how it got there.
You know, if people had had time to actually read this bill before it passed, they might have avoided a lot of problems. Of which this is likely just the first . . . .
The political hue and cry over the millions in bonuses for AIG execs has hit fever pitch but there are major questions about what AIG has done with far larger portions of the federal bailout money it’s received over the past year than the $165 million in bonuses given to derivatives traders.
AIG disclosed on Sunday night that it has given over $100 billion (with a B folks) — more than half of the $173 billion in federal dollars — to other financial institutions and state municipalities.
Indeed, the whole bonus issue is kind of a distraction.