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Geithner: Treasury Pushed for Bonus Loophole

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posted on Mar, 19 2009 @ 03:13 PM
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Geithner: Treasury pushed for bonus loophole


politicalticker.blogs.cnn.com

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.

Dodd admitted to CNN Thursday he'd added the controversial provision after a Treasury official pushed for it. Earlier in the week, Dodd had said he had not played any role in the addition of the loophole.

Geithner told Velshi Thursday he takes full responsibility for the situation.

(visit the link for the full news article)



[edit on 3/19/2009 by skeptic1]




posted on Mar, 19 2009 @ 03:13 PM
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This is getting more convaluted by the minute.

Does the right hand even know what the left hand is doing in DC or are they all just ignorant?

Hell, now they say they wanted this but are up in arms, demanding that the money be returned and passing unconstitutional bills to get it back. :shk:

I can't help but to wonder what tomorrow holds.....

Oh, and this idiot needs to be fired.

politicalticker.blogs.cnn.com
(visit the link for the full news article)

[edit on 3/19/2009 by skeptic1]



posted on Mar, 19 2009 @ 03:16 PM
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From the linked article in the opening post:


- He does not believe TARP or the stimulus bill was rushed through Congress

- Calls for resignation are part of the job

-Officials will make sure that any further money comes with provisions (including executive compensation)

-His team will have a detailed plan for the banks w/in the next couple of weeks

-The recession will likely end in 2009, and 2010 will be a year of growth



Ridiculous.....



posted on Mar, 19 2009 @ 03:20 PM
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I'll give him a little credit for finally stepping up to the plate and admitting it, but for the most part, its too little, too late. At this point, he's mostly just trying to save his political backside. He's allowed AIG's execs to take the brunt of the blame for something that is quite clearly the administration's fault.

He needs to go. It'll be interesting to see how long Obama continues to stand behind him. Given the administration's harsh tone towards AIG, the public backlash is going to be fierce.



posted on Mar, 19 2009 @ 03:24 PM
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A pathetic liar.

The government has never been afraid of anybody suing them.

People request info from the gov every day and are told they will have to sue to get the info.



posted on Mar, 19 2009 @ 03:31 PM
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reply to post by vor78
 


OR, has he agreed to take the bullet for the Obama?

Seems the more likely case. IMO

Now he can be fired by the savior, and the savior can say it is something that he inherited. And all will be forgotten, and forgiven.

In honor of such a selfless act, "Geithner Grape" is to be the Kool-Aid flavor of the month.



posted on Mar, 19 2009 @ 03:41 PM
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Distraction.

We should not allow the MSM to dilute our anger... it belongs with the corporate shills in government. They told us WE HAVE TO PASS THIS OR ITS DOOMSDAY FOR THE WORLD. Then they changed it and passed it without reading it.

Dodd is exactly what he appears to be - a politically motivated liar. Just like most of them.

The Supranational Bank Cartel has overthrown our government, it should have been considered an act of war. Now we are here on our knees praying they don't cut us loose, and the politicians all want to be the 'righteous' heroes who will save us.

Please don't let our children forget what they have wrought upon our nation, and don't forget - they will never go hungry, or lose THEIR homes, or not have healthcare.... only we will.

[/rant]



posted on Mar, 19 2009 @ 04:20 PM
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reply to post by Maxmars
 


Well, if Glenn Beck is right, the distraction is from the $1 trillion the Fed pumped into the system yesterday as a last-ditch effort to save the economy, plus that the CBO is set to give a scathing review of Obama's budget tomorrow and that the deficits will be far worse than projected.

Hyperinflation, anyone?



posted on Mar, 19 2009 @ 04:31 PM
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reply to post by skeptic1
 


This call corruption, this also shows how in our own America the free and the people's government is governed by dirty and sickening deals between our whores in political positions and the pimps in the private sector.

Lobbying for the American people, who is doing that in congress, nobody, if every American put money on the side and we all buy our for the people politicians perhaps they will be working for us.

But While they rape us, gouge us and screw us their beneficiaries is none of us.

The American people needs to wake up and take back our government and reverse it to its original intention to serve the people that they represent, no those that pays the most.



[edit on 19-3-2009 by marg6043]



posted on Mar, 19 2009 @ 04:43 PM
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reply to post by marg6043
 


The same American people that keep voting these people into office for term after term after term after term??

We need to face the fact that we (on ATS) are a tiny part of the voting public. We may know what is going on and may be pissed to the gills about it, but the majority of the voting public doesn't seem to care, is too busy to care, or is too lazy to care.

We, the tiny part of the minority that has common sense, has been screaming about corruption and BS in DC for years, but the same people keep gettting put into power.

They lie one day, like they all did about these bonuses yesterday, and today, they admit to a small part of it and point fingers at others who had "larger" roles in it.



posted on Mar, 19 2009 @ 04:54 PM
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reply to post by skeptic1
 


You know why they get to be in power?, because the reality of the issue is, that our elections are control, we are given two candidates coming from the elite parties we have.

This candidates are chosen then elected, but we don't have much choices, then once they are elected they bring the same corrupted trash that is recycle every presidential term depending what party is in place.

Washington has not seen any new blood until they brought Obama and even him is nothing more than another figure manipulated at will.

Sad but true.



posted on Mar, 19 2009 @ 05:08 PM
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reply to post by marg6043
 


"The American people needs to wake up and take back our government and reverse it to its original intention to serve the people that they represent, no those that pays the most."

We have two bodies of government to create laws that they want us to follow/ obey, whether we like it or not.

Do we really need to have new laws passed every week that they are in session?
Do not we already have laws on the books that the powers that be do not or refuse to enforce?

Problem is, Skeptic1 pointed out, the public at large is unconcerned, ignorant, or unaware of any problems existing, beyond the day to day, or who is the next American Idol/ or who got voted off the island.

How do we wake the people, short of our own false flag event, or all out revolt (either armed, or unarmed?

Or is it likely that the conspiracies are unfounded, and we are being told the truth and nothing but the truth by our handlers?



posted on Mar, 19 2009 @ 05:16 PM
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This is just pathetic.
How can the public remain largely unconcerned? Oh yeah i forgot, can't afford to miss CSI or 24 or whatever the hell is cool right now. We're having greaseburgers and french fries tonight, supersized, and swilling it all down with a couple of cases of beer.
Meanwhile, we are being continually screwed over by the very people that we are paying to run this country. It's crazy that the average American citizen apparently doesn't realize that the government is supposed to work FOR them, and not the other way around.

Geithner will likely resign or be fired, and some other puppet put in his place. The whole outfit is swarming with these scumbags willing to sell the nation off to the highest bidder, also willing to do almost anything to stay in control of the citizens of this country.....nevermind that Constitution thingy, we'll use it for toilet paper!



posted on Mar, 19 2009 @ 05:19 PM
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reply to post by mpriebe81
 


He won't resign and he won't be fired.

Remember, the administration said he is the "only person that can fix our economic crisis".




posted on Mar, 19 2009 @ 06:00 PM
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If he is the only person to fix the economy then people brace yourselves because we are going down the hill faster that we may think.

He is not even a fat rat he is just a littler wet rat obviously he already has been bought by even before he took the position of the treasury.

He can not even hide the pathetic face he has when in the public view and scrutiny, because he is one of those peoples that can not hide a lie.



posted on Mar, 19 2009 @ 06:14 PM
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reply to post by skeptic1
 


"Remember, the administration said he is the "only person that can fix our economic crisis"."

And it does look as if the "fix" is in the making...sending us down the drain.

But still, it is a CHANGE, but not one I believe in...



posted on Mar, 19 2009 @ 06:18 PM
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Originally posted by skeptic1
reply to post by mpriebe81
 


He won't resign and he won't be fired.

Remember, the administration said he is the "only person that can fix our economic crisis".



Hahahaaa... that's because he's the only person IN the Treasury Department. Geithner has no senior staff. I'm not making excuses either but we have to live with what we've got. Obama seriously NEEDS TO FILL UP THE VACANCIES in the Treasury Department even if it means he does nothing else for a MONTH!!!!!!!!

He has totally neglected HIS JOB!!!!!!!!!

[edit on 19/3/2009 by Iamonlyhuman]



posted on Mar, 19 2009 @ 06:46 PM
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reply to post by Iamonlyhuman
 


People keep dropping out of consideration for Treasury. I mean, you can only have so many questionable people and tax cheats in an administration before questions start to be asked.

:shk:

But, yeah, as of now, he is the only senior staff at the Treasury. There are lower level employees, but no "appointees". Sad state of affairs.....



posted on Mar, 19 2009 @ 07:03 PM
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I thought Oboma was supposed to read through every document before
signing into law. What happened to this idea?

[edit on 19-3-2009 by crazyjames65]



posted on Mar, 19 2009 @ 07:08 PM
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reply to post by crazyjames65
 


Congress doesn't even read what they vote on. Who can expect a busy President to read what he signs into law?

I mean, he has more important things to do like publicize his NCAA picks on every television station around the world and be on the Tonight Show.

This whole deal just annoys the hell out of me.

[edit on 3/19/2009 by skeptic1]




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