Geithner Fesses Up: He Pushed for Dropping a Senate Restriction on Bonuses. Geithner's Becoming a

[babsbunny]

Radioactive Enabler of His Wall Street Buddies Who Robbed America Blind.

http://politicalticker.blogs.cnn.com/2009/03/19/geithner-treasury-pushed-for-bonus-loophole/

Posted: 04:25 PM ET
Treasury Secretary Timothy Geithner told CNN Thursday his department asked Sen. Chris Dodd to include a loophole in the stimulus bill allowing bonuses to be paid.
Treasury Secretary Timothy Geithner told CNN Thursday his department asked Sen. Chris Dodd to include a loophole in the stimulus bill allowing bonuses to be paid.

(CNN) — Treasury Secretary Timothy Geithner told CNN Thursday his department asked Sen. Chris Dodd to include a loophole in the stimulus bill that allowed bailed-out insurance giant American International Group to keep its bonuses.

In an interview with CNN's Ali Velshi, Geithner said the Treasury Department was particularly concerned the government would face lawsuits if bonus contracts were breached.

[babylonsister]

1. Why is everyone conveniently forgetting this gem?

http://washingtonindependent.com/34869/a-party-of-amnesiacs

snip//

Start the clock in September, when Henry Paulson, treasury secretary under the Bush White House, was charged with selling Congress on the $700 billion Troubled Asset Relief Program. As part of his pitch, Paulson, along with Federal Reserve Chairman Ben Bernanke, repeatedly insisted that executive compensation limits should be avoided, lest they hobble the effectiveness of the program.

“If we design it so it’s punitive and so institutions aren’t going to participate,” Paulson told Fox News at the time, “this won’t work the way we need it to work.”

[spanone]

4. when the media chooses not to remind people, they conveniently forget

and blame the current recipient of the bu$hit

[Elidor]

6. That's definitely worth bringing up in the current debate

And many republicans joined him in ensuring no limits on bonus pay, then turned around and decried it this week. But ultimately, we have the same failed policy still active in the current administration. By itself it's not even that big a deal, but it's indicative of bigger problems.

Josh Marshall:
Bank bailouts are catastrophic in political terms and much more important, in the Paulson/Geithner model, probably won't work either. That's a bad combination. At some point, Obama owns this.
http://www.talkingpointsmemo.com/archives/2009/02/wolfs_thumbs_down.php

That point is fast approaching, deservedly or not.

[Donnachaidh]

2. Rewarding his friends -- he should be GONE.

Turbo Tax Timmy should join the ranks of the unemployed.

[spanone]

3. perhaps he was trying to forward President Obama's agenda and didn't want it bogged down in courts?

perhaps

[ddeclue]

9. Oh COME on...Geitner needs to go..

The Treasury Department should WELCOME lawsuits by AIG's execs because it would give them the legal standing to crawl up their asses with a scanning electron microscope under "discovery".

They wouldn't DARE sue the Treasury to ask for their 165 million in undeserved bonuses - no jury would ever give them dime one!

[GalleryGod]

19. How about all persons living WHORElando have to go first? Really isn'T that

The President of the United States' "call" or are you just feeling inadequate today???*









*Keyboard Commando,much?

OK?
Good Meeting!

[DebbieCDC]

5. Geithner has got to go

He's dragging Obama down. Time to get rid of him. He's ass-deep in this Wall Street mess and unless Obama wants to go down with him, Geithener will "choose to spend more time with his family". It's not too late -- yet -- to undo the damage Geithner has done.

[sam sarrha]

7. he's apparently a closet Rethuglican.. Link>>

http://www.internationalrivers.org/en/blog/peter-bosshard/so-what-about-tim-geithner
Tim Geithner first registered as a Republican, but switched his party affiliation while he was at the Treasury. The Bush administration blocked his application for the IMF's number two position in 2001.

[ddeclue]

8. Geitner needs to be fired... LAWSUITS??

Does anyone seriously think the government would lose?

No jury in America would give these weasels a dime...

In fact if it were possible they'd order them tarred and feathered and run out of town on a rail.

Geitner is either the biggest coward to ever hold the Treasury job or totally co-opted by Wall Street.

:nuke:

[Traveling_Home]

11. They'll get paid under lawsuits; They wouldn't get paid under bankruptcy!! nt

[stillcool]

14. How do you know they won't get paid?

I've worked for companies that went bankrupt and got money owed to me..with interest.

[ddeclue]

16. And just what jury do you think could be enpaneled that would give these creeps dime one?

[Traveling_Home]

17. One that understands contract law. nt

[stillcool]

13. Let's see...if you negotiated your salary..

compensation...and after you signed the contract and was paid the money you earned, what would you do if the person you signed the contract with told you, you had to pay the money back?

[Fuzz]

10. Fuck him then. He's a huge liar and a douchebag.

[Fire1]

12. Alright! Geithner, stop lying!! Stop fuckin lying!!!

"........concerned the government would face lawsuits if bonus contracts were breached," my ass! Contracts are re-negotiated all the damned time and this is no fuckin different. This is a feeble attempt to CYA!

[GalleryGod]

20. Nice Sign-Up Date, NEW-BIE ! As Will Pitt would say,

SIUYFA!

OK?

OK,Gooood Meeting!:nopity:

[Obamanaut]

15. Let him go and remind him of IRS filing dates. And procedures. nt

[GalleryGod]

18. HoHoHoho*

a little knowledge is a dangerous thing?
OK?
Good meeting!









When's the next meeting of S-UOD,Anonymous?

[marshall]

21. I wish he would explain WHY he did this

He and Dodd are having these johnny-come-lately recollections that they "mis-spoke" and that they really did what they denied doing a day or two earlier. But they don't follow it up by saying why they did it. They just say "Oops, I did it after all!" I would like to know what the logic was behind their decisions, and perhaps why they felt a need to cover it up (because who really believes that they forgot).