Update 2: Congressman calls for Geithner’s ouster..El Rushbo on the AIG bonuses…AIG Congressional Hearing LIVE..
Update 2: Rep. Connie Mack R-FL calls for Geithner to resign or be fired..
Let’s be perfectly clear here LOL, Geithner KNEW AND TAXPAYER MONEY FLEW….Geithner wrote this rescue in September of 08, period. At the time it was perfectly fine to pay off the rats who tanked the system and they are of his ‘ilk’…..
The subcommittee’s chairman, Rep. Paul E. Kanjorski (D-Pa.), lamented at the start of the hearing that Treasury Secretary Timothy F. Geithner and Federal Reserve Chairman Ben S. Bernanke had declined invitations to participate today, but he said they would appear at a full committee hearing on March 24.
“They have much to explain, not only to us but to the American people,” he said. He noted that AIG has “gained access to more than $182 billion in taxpayer assistance” under a federal bailout program approved last year.
Kanjorski said of the bonuses, “something is seriously out of whack, and AIG needs to fix it now.” He said he had called Liddy in January to express concern about such payouts and had predicted that they “would rightly incite a public outcry.” But he said his advice went unheeded. “The company hid behind legal technicalities, and the outcome I predicted happened,” he said.
Rush courtesy of realclearpolitics
Hundreds of people are lined up trying to get seats but it is a full house
Maybe someone will ask about the billions to Golden Slacks
Barney Frank says they want to sue as owners of the company…