Embarrassing details about just how AIG was able to hand out $165 million in bonuses despite record losses and an 80% ownership stake by the federal government keep tumbling out.
"Congressional Democrats careened between the circular firing squad and the three-ring circus Tuesday," reported Politico.com.
It turns out that last year AIG not only spent $10 million on lobbying Congress but also was a generous political donor. The top two recipients?
None other than Senate Banking Committee Chairman Chris Dodd, who collected $103,100, and then-Senator Barack Obama, who took in $101,332 (John McCain was a distant third).
No wonder Messrs. Obama and Dodd both are scrambling to avoid the AIG tar baby.
But the situation continues to get stickier.
New Jersey Senator Robert Menendez put the finger on Treasury Secretary Timothy Geithner for the mess, claiming he wrote Mr. Geithner two weeks ago warning about the bonus issue.
A bipartisan pair of senators, Democrat Ron Wyden of Oregon and Olympia Snowe of Maine, has now stepped up to point out that they offered an amendment during the recent stimulus bill debate that would have taxed bonuses for firms accepting government subsides.
Congressional democrats stripped the provision from the bill.
Members of Congress are determined to stick someone else -- anyone else -- with the blame.
It's true the White House is continuing to defend its star-crossed Treasury Department.
But it's pretty clear that if a scapegoat will be found for the AIG mess, he will be located there.
Political Diary Online
The Wall Street Journnal
Barack Hussein Obama aka Barry Soetoro
is a usurper
because he is not eligible to be President of the United States
because he is not a Natural Born Citizen
as required by Article Two, Section One, Clause Five
of the United States Constitution regardless of
where he was born (Mombassa, Hawaii, Chicago, or Mars)
because he was not born of TWO PARENTS
BOTH OF WHOM WERE UNITED STATES CITIZENS
at the time of his birth. His father was a subject/ciitizen
of Kenya/Great Britain
and his mother was too young to pass on her citizenship
according to the law in effect when he was born.
Check it out:
His usurpation cannot be corrected by Congress,
it can only be corrected by his removal
by an amendment to the Constitution.