March 18th, 2009
02:54 PM ET
13 years ago

Cafferty: Washington to blame for AIG bonus scandal?

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As outrage over AIG bonuses reaches a fever pitch, many are now wondering why our leaders in Washington didn’t do more to prevent the situation in the first place. The Obama administration says that it didn’t know until a couple of weeks ago that AIG executives were set to receive $165 million in bonuses.

They say that Treasury Secretary Tim Geithner found out last Tuesday; and the president learned of all this on Thursday, just a day before the controversial retention payments went through. But Geithner was running the New York Federal Reserve Bank last fall when AIG got a high-interest loan of 85 billion dollars to help prevent collapse — along with its first installment of federal bailout money.

And none of these folks must watch CNN because in late January, Mary Snow did a story on this very program about the insurance giant paying hundreds of millions of dollars in bonuses to its financial products unit.

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Filed under: Cafferty File
soundoff (83 Responses)
  1. Mari

    So what IF Geithner was running the New York Federal Reserve Bank last fall?? Sounds like 'someone' is trying to find fault with the Obama Team when in fact, the AIG first bail out happened in September.

    In an article in the NY Times this morning, by Thomas Friedman, I read that AIG had given $33.6 million in bonuses, to 418 people, 52 of whom had left AIG.

    Hank Paulsen, Bush's Treasury Secretary, was the former CEO of Goldman Sachs so ........ seems to me that Sec. Paulsen should be blamed as should Congress for not insisting that the Bail-Out Bill have restrictions, such as NO BONUSES FOR FAILING BANKS & WALL STREET FIRMS!

    March 18, 2009 05:09 pm at 5:09 pm |
  2. gary

    like harry truman said if you cant stand the heat get out of the kitchen i lay this right at obama you re the main man and the buck stops here

    March 18, 2009 05:12 pm at 5:12 pm |
  3. Mari

    @ " Death of America by Obama"............. State your case for impeachment! You far-right-nuts are always spewing your vile .......but you do not back it up! WHAT LAWS has Obama broken?? Please explain!

    On the other hand........... BUSH........ he is a war criminal, he lied to us, the American people, he threw our Constitution aside and spied on us all!

    AND........ worse...... Bush went on quite a spending spree while he was in Office!

    Bush inherited a prosperous Nation......... from Clinton, and left America ........ bankrupt!

    March 18, 2009 05:13 pm at 5:13 pm |
  4. Steph

    I'm getting really tired of people using the economic crisis as a way to point fingers and advance a political agenda. America is in huge trouble if we don't decide to start working together! We have major problems and instead of doing the hard work to solve them, we are name-calling, bickering and trying to make sure the other "guy" is blamed. Are we already admitting defeat?

    March 18, 2009 05:13 pm at 5:13 pm |
  5. LIP

    People in good faith elect representatives and they leave and follow the yellow brick road to Washington and forget about their constituents.

    March 18, 2009 05:13 pm at 5:13 pm |
  6. Ms P

    I hope you guys are following events for your self and not depending on the pundits alone i.e. Fox News, Republicians, etc. I think the congress is merely putting on a show. Liddy only gets paid $1. He is only trying to help straighted out the big mess. However, the employees who accepted the bonuses should be ashame.

    March 18, 2009 05:14 pm at 5:14 pm |
  7. Cali Girl

    Plain and simple, greed is to blame.

    March 18, 2009 05:19 pm at 5:19 pm |
  8. Steve in Las Vegas,NV

    Lets stop blaming and start fixing these problems!

    Those who are responsible for this must be fired and fined or jailed!
    And no bouses either

    March 18, 2009 05:19 pm at 5:19 pm |
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