Category Archives: Bailout

AIG: Too Immoral to Survive

Sunday, April 19, 2009 Last fall, when the Troubled Assest Recovery Program (TARP) started, it was said American International Group (AIG) was “too big to be to fail,” a fundamentally incorrect assumption applied to the government’s policy of bailing out … Continue reading

Posted in AIG, Bailout, News | Tagged , , , | 4 Comments

Does Obama Hate the Auto Workers?

Tuesday, March 31, 2009 When lawmakers demanded strict conditions placed on the Big Three Automakers before their request for a bridge loan was approved, many said it was a clear case of Washington elites attacking people who shower after work … Continue reading

Posted in Bailout, Big Three Automakers, President Barack Obama, U.S. Economy | Tagged , , , , | 8 Comments

Why is NY AG Andrew Cuomo Doing Tim Geithner’s Job?

Friday, March 27, 2009 Let me begin by saying I’m a huge fan of New York AG Andrew Cuomo. I believe New York Gov. David Paterson made a grave political miscalculation by not appointing Cuomo to Hillary Clinton’s vacated senate … Continue reading

Posted in AIG, Bailout, News, President Barack Obama, Tim Geithner | Tagged , , , , , , | 6 Comments

15 of 20 AIG Bonus Recipients Return Ca$h

Tuesday, March 24, 2009 There may not be a Santa Claus but there is New York Attorney General Andrew Cuomo. On a conference call with reporters Monday, Cuomo said that of the top 20 executives who received the biggest bonuses, … Continue reading

Posted in AIG, Bailout, News, U.S. Economy | Tagged , , , , , | 7 Comments

Geithner Aides Worked With AIG for Months on Bonuses

Monday, March 23, 2009 BREAKING Since the fall of last year, senior aides to Timothy Geithner have closely dealt with AIG on compensation issues including executive bonuses, both from his time as president of the Federal Reserve Bank of New … Continue reading

Posted in AIG, Bailout, News, Tim Geithner | Tagged , , , | 17 Comments

Obama Implies Rejection of House Bonus Tax Plan

Monday, March 23, 2009 Yesterday I asked the question, what happens if President Obama refuses to sign the House-sponsored bill that slaps a punitive 90 percent tax on bonuses to executives at financial institutions like AIG who received taxpayer bailout … Continue reading

Posted in Bailout, News, Politics, President Barack Obama, U.S. Economy | Tagged , , , , , | 13 Comments

Federal Bailout Cash Goes to Political Contributions

Sunday, March 22, 2009 Where the bailout money is going has caused angst inside the Beltway. The news that AIG used Federal TARP money to pay their failed executives $214 million in bonuses resulted in plenty of outrage on Capitol … Continue reading

Posted in Bailout, Congress, News | Tagged , , | 9 Comments

What if Obama Doesn’t Sign the AIG Tax Bill?

Sunday, March 22, 2009 I hate to be a buzz kill but here’s some food for thought. What happens if President Obama refuses to sign the House-passed bill taxing the criminally obscene AIG bonuses at 90% into law? What do … Continue reading

Posted in Bailout, News, President Barack Obama | Tagged , , , | 9 Comments

House Approves 90% Tax on Bonuses After Bailouts

Friday, March 20, 2009 By a vote of 328-to-93, the U.S. House of Representative approved a 90% tax on bonuses paid this year to employees of AIG. Nearly half of House Republicans joined Democrats in supporting the measure,which would tax … Continue reading

Posted in Bailout, Congress, News, Politics | Tagged , , , , , | 14 Comments

BREAKING: “I Was Responsible for [AIG] Bonus Loophole”

Thursday, March 19, 2009 Senate Banking committee Chairman Sen. Dodd told CNN’s Dana Bash and Wolf Blitzer Wednesday that he was responsible for adding the bonus loophole language into the stimulus package that permitted AIG and other companies that received … Continue reading

Posted in Bailout, Congress, Democrats, News, Politics, U.S. Economy | Tagged , , , , , , | 10 Comments

Quote of the Day

Tuesday, March 17, 2009 “Follow the Japanese model: resign or go commit suicide.” — Sen. Charles Grassley (R-IA), in the Washington Post on AIG executives who took bonuses despite a massive government bailout

Posted in Bailout, News, Politics | Tagged , , , , | 10 Comments

Obama Administration Fails to Halt AIG’s $165 Million Bonus Scheme

Monday, March 16, 2009 President Barack Obama recently said paying bonuses to Wall Street was “shameful” while companies survive on Federal life support. But the president has discovered changing the culture of Wall Street is much more difficult than anticipated. … Continue reading

Posted in Bailout, News, Politics, President Barack Obama, U.S. Economy, Wall Street | Tagged , , , , , , | 27 Comments

Bailed Out Bank of America Pimps Super Bowl Fun Fest

Monday, February 2, 2009 Despite whining to Congress they were near a collapse that required $45 billion in Federal taxpayer bailout funds, Bank of America sponsored a five day carnival-like affair just outside the Super Bowl stadium in Tampa, FL … Continue reading

Posted in Bailout, News, Politics | Tagged , , , | 17 Comments

Angry Senator Wants Pay Cap on Wall Street ‘Idiots’

Saturday, January 31, 2009 Finally, a Democratic senator with a spine. One day after President Obama ripped Wall Street executives for their “shameful” decision to hand out $18 billion in bonuses in 2008, Congress may finally have had enough. Sen. … Continue reading

Posted in Bailout, Democrats, News, Senate | Tagged , , , , , | 15 Comments

Obama Treasury Dept. to Citi: Don’t Pimp Your $50 Million Ride

Tuesday, January 27, 2009 Citigroup, which received a massive taxpayer-funded rescue last year, cancelled plans to buy a $50 million executive jet after news of the new plane drew rebukes from politicians including from the Obama Treasury Department. The bank … Continue reading

Posted in Bailout, President Barack Obama, U.S. Economy, Wall Street | Tagged , , , , , | 9 Comments

Goverment Supplies Another $15 Billion to Banks

Wednesday, January 7, 2009 And yet they still refuse to lend! Funny how it all works. The government said Monday it had supplied another $15 billion to seven banks in the latest round of payments from the $700 billion rescue … Continue reading

Posted in Bailout, News, U.S. Economy | Tagged , , | 8 Comments

$1.6 Billion of Bailout Money Went to Bank Execs

Monday, December 22, 2008 By now, everyone knows I opposed the $700 billion dollar bailout of Wall Street from the day it was ramroded down the throats of the Congress. The idea of a Bush appointee, Henry Paulson, terrorizing Washington … Continue reading

Posted in Bailout, Bush Administration, Congress, Democrats, Politics, Republicans | Tagged , , , , , , | 4 Comments

The Gang of 18

Friday, December 12, 2008 These 18 senate Republican douchebags voted in favor of the $700 billion bailout of Wall Street crooks and criminals, but against the $14 billion emergency bridge loan package to keep the ailing U.S. auto industry from … Continue reading

Posted in Bailout, Politics, Republican Hypocrites | Tagged , , , , | 16 Comments