UPDATE: The White House’s financial dynamic duo, Treasury Secretary Timothy Geither and National Economic Council head Lawrence Summers, pulled strings to protect the AIG bonuses, steamrolling Senator Chris Dodd, who had added language to the American Recovery and Reinvestment Act which would have stopped many of the bonuses.
So now, with the manure hitting the fan, who do Geithner and Summers blame? Dodd, of course! Shameless! Shameless! They’re robber-baron bankers protecting their robber baron friends, and we’d do well to be quickly rid of both of them.
More on this topic
(What's this?)
A Token Reining in of AIG Bonuses (Banana Republic Watch)
(naked capitalism, 3/15/09)
Wiliam Black Savages Treasury's Conduct on AIG
(naked capitalism, 3/16/09)
The Hidden Side of Bonuses
(Investment U, 3/17/09)
Republican Grassley tells AIG execs to ‘commit suicide’
(China and Asia Stock Alert - Glo..., 3/17/09)
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