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A report from The Australian provides a handy overview of the forming AIG bonus scandal which points to many in the political majority of the US. Pelosi has said she’s not to blame or the House is not to blame and both Dodd and her point to the previous administration and the current one as the culprits.

But it looks like Obama’s wonder boy was and is at the center of the controversy. Which places more concern over amateur hour at the current White House and President Obama’s ability to lead.

Senator gave nod for AIG bonuses
David Nason, New York correspondent | March 20, 2009

FORMER Democrat presidential contender Chris Dodd has revealed himself as the author of a controversial amendment that cleared the way for the huge bonuses to be paid to executives of AIG, the insurance giant rescued by the US Government last year to avert a global financial meltdown.

The Senate banking committee chairman, who last year topped AIG’s political donations list with $US104,000 ($154,000), admitted to changing the executive pay provisions of the Obama administration’s $US787 billion stimulus bill.

Mr Geithner was in charge of the stimulus package negotiations, but appears to have been unaware of the executive pay changes until after the bill was signed into law.

Pelosi also suggested it is a matter of fact and record that the conference working out differences in the stimulus package did not deal with the AIG situation as indicated by Dodd. But the best part is while the GOP complained they were not allowed to participate that may now be a good thing. The liberals fingerprints are all over this one and it looks as if they get complete ownership of this fiasco as well as others related to economic problems and a lack of honest or qualified leadership.

Stanford Matthews
MoreWhat.com

This entry was posted on Sunday, March 22nd, 2009 at 5:35 pm and is filed under Public Affairs, Money Matters, wordpress, Politics, Democrats, liberal, lobbyist, disclosure, ethics, oversight, obama, Legislation. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.