Tim Geithner lies to Ali Velshi and the nation about his knowledge of the AIG bonus payments on CNN yesterday.
To the cynics who clamor that journalists are missing the bigger picture regarding AIG, I respond that it is they who have been blinded. The rub is no longer the $165 million in bonuses or even the $173 billion in taxpayer largesse. At issue are the potentially criminal lies being told by Tim Geithner as part of a shameless White House attempt at hiding its role in approving and even lobbying for over $1 billion in AIG bonuses to be paid this year.
It is a cover-up. It stinks. And we will not allow them off the hook. And it smells an awful lot Richard Nixon in 1974. In fact it tastes like a presidential cocktail of Tricky Dick, with some Ronnie I-Don't-Recall Reagan, a huge shot of Slick Willy and even spiced with a couple of George Bushies.
And the mind-boggling conundrum of it all is that Geithner, Summers and Obama are attempting to dissemble in the face of overwhelming and easily-sourced evidence from just 6 weeks ago.
Jane Hamsher of FireDogLake is the undisputed leader of this investigation, and she had this to say yesterday:
If I were inclined to believe Timothy Geithner didn't know about the AIG bonuses until last Tuesday—as the administration claims—that went out the window when I went to the AIG hearing on the Hill today and listened to Paul Kanjorski declare that he had known about them at least four to six weeks ago. As he said on CNBC today:
I'm sick and tired of hearing the administration and the Secretary of the Treasury say "we just found out about it." That's not true. And if he did just find out about it on Thursday or Wednesday then he better get to his mail department and to his telephone people because we communicated with the Treasury at least six or seven times.
Liddy also said that the Fed, and specifically Ben Bernanke, knew that the bonuses were going to be paid and approved them.
A list of who has admitted knowing about these bonuses and when.
Senator Harry Reid has known since November.
Paul Kanjorski has known for at least 6 weeks.
Elijah Cummings has known for months.
Ben Bernanke has known for months.
Tim Geithner has known for months and the New York Times reports today that he discussed these same bonuses in front of Congress on March 3rd, but now says he didn't know the full-scope until March 10th. What the hell are you trying to pull Geithner? Do you perhaps believe that not a single American has a functioning brain.
Tim Geithner was the architect for the first 2 AIG bailouts.
Tim Geithner and Larry Summers lobbied non-stop to have the Dodd ammendment changed to allow these exact bonuses to be paid.
Tim Geithner claims in the above CNN interview that the lobbying was to prevent future legal challenges to the Dodd ammendment.
Tim Geithner never mentioned future legal challenges when he was lobbying Dodd for the change.
Tim Geithner instead argued on Feb. 10 that Dodd's ammendment was overly intrusive and meddlesome.
Tim Geithner argued on Feb. 14 that Doddd's ammendment would force small banks to return the funds and not take future assistance.
Yesterday, Tim Geithner claimed at least 4 times in the CNN interview that his objections were related to future legal challenges.
Opinions are worth the web servers that host them, but the evidence is incontrovertible so here's mine. Since Geithner was the co-architect of AIG bailouts #1 and #2, I believe he has been aware of these bonus retention payouts since late September. Further, I GUARANTEE he has known about them since November 14, when the Washington Post discussed them on page D1, the front page of their business section.
Political animals (and Geithner most certainly is one) have people on staff whose sole duty is to monitor the press for their king. To me, the very surprising error was TG's failure to anticipate the extremely negative public reaction that would accompany news of these payouts. Blind and dumb and beholden to the financial industry and Wall Street as Krugman states today.
One more thing. You know how Timmaaay and Larry Summers won't shut up with their talking point that TG fought hard against Liddy last week when he first learned. Guess how much Timmaaaay got Liddy to cut from the original amount: less than $5 million. Nice pushback, TG, nice.
Now that is something about which to brag.
Think about it. And don't be fooled.
Tim Geithner is a liar and should be investigated for perjury before Congress.
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Below are the stories from Jane detailing the AIG bonus fiasco. Her investigative journalism has been outstanding. Each of her articles deserves your attention.
AIG Still Set to Pay $1 Billion in AIG Bonuses Later This Year
Treasury Attempts to Blame Dodd for Bonuses to AIG
Live From Capital Hill: The AIG Hearing
AIG & Me: A Wacky Day on the Hill
Elijah Cumming Has Known for Months. So Has Gethner
Does Anyone Care About the $1 Billion in Bonuses to AIG to be Paid Later This Year ?
Cummings Asks Questions That Geithner Will Not Discuss
Geithner Never Mentions Legal Concerns Until This Month
Of Bonuses, Lies and Videotape
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