The Obama administration and Congress were aware of the bonuses AIG was about to pay and should have gotten in front of this issue. Treasury Secretary Geithner has failure number three on his hands. His first was a poor debut from which he has failed to recover. Failure two has been slow to staff up at the Dept of Treasury. And failure three is losing the public's confidence over AIG.
President Obama cannot avoid blame for he cannot talk one way and act another. He also knew about this, he miscalculated, and he needs to fix this situation and fast.
And Congress. These boneheads agree on the need to recoup the bonuses. My big question: why were members not writing laws to prevent this? Where were members of the House Banking Committee? Asleep at the wheel, as usual. Is there anyone thinking ahead vs reacting?
The only guy who looks proactive? NY Attorney General Andrew Cuomo. He acted to acquire information on the bonuses and gave that information to Congress. Should Obama's Justice Department have taken the lead? Of course.
Read more
Posts
0 comments:
Post a Comment