The Triumphant Return Of Tricky Dick: Treasury Secretary Tim Geithner Is Still Lying And We Prove It
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
More Photos:
Reader Comments (22)
Timothy F. Geithner, the Treasury secretary, responded by saying that executive pay in the financial industry had gotten “out of whack” in recent years, and pledged to crack down on exorbitant pay at companies like A.I.G. that were being bailed out with billons of taxpayer dollars.
The exchange took place before the House Ways and Means Committee on March 3 — one week before Mr. Geithner claims he first learned that the failed insurance company was about to pay a round of bonuses that have since caused a political uproar.
http://www.nytimes.com/2009/03/20/business/20bonus.html?_r=1&ref=business
About 400 workers at the financial products unit may get the money in two installments, said the people, who declined to be named because details of the payments were confidential. The business was responsible for about $34 billion in writedowns since 2007 as the market value of swaps AIG sold to banks plunged amid the subprime mortgage market collapse.
The payments bring to more than $1 billion the amount AIG has committed to keep its employees from leaving. The New York- based insurer in September took a federal bailout to avoid bankruptcy and is selling subsidiaries to repay the government. AIG said the program was disclosed before the government rescue, which is now valued at $150 billion.
http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=avGnUgGMu1q4
Representative John Lewis, a Democrat from Georgia who heads the U.S. House of Representatives Ways and Means oversight subcommittee, said 13 bailed-out companies owe the federal government taxes. Two of them owe more than $100 million each.
http://www.reuters.com/article/newsOne/idUSTRE52I4LO20090319
Summers is a scoundrel in most pure form.
WASHINGTON (CNN) -- With outrage mounting over AIG's $165 million in bonuses to executives, the president's chief economic adviser offered a new line of defense for the White House in an exclusive interview with CNN. Larry Summers said an AIG meltdown was too risky for the economy to push too hard on executive bonuses.
Larry Summers suggested that if Treasury Secretary Timothy Geithner had pushed the insurance giant too hard on the bonuses, AIG could have collapsed just like Lehman Brothers and sparked an even bigger crisis.
"Secretary Geithner has used all the legal authorities that are open to him to contain and limit the payment of bonuses," said Summers, chairman of the National Economic Council. "What he did not do, and what would have been irresponsible to do, as outrageous as these payments are, would have been to put at risk the stability of the financial system.
http://www.cnn.com/2009/US/03/17/AIG.larry.summers/index.html
There will be blood in the streets next time.
Analysts: Next bailout will be a tougher sell
http://www.cnn.com/2009/POLITICS/03/17/obama.aig/index.html
http://emptywheel.firedoglake.com/2009/03/19/what-did-geithner-know-and-when-did-he-know-it/
http://www.businessinsider.com/the-aig-bonus-timeline-who-knew-what-and-when-did-they-know-it-2009-3
By: Jane Hamsher Friday March 20, 2009 7:19 am
Tim Geithner needs to get his story straight. Yesterday he told CNN's Ali Velshi that in fact he did ask Chris Dodd to insert language in the stimulus bill that allowed the AIG bonuses to be paid:
http://firedoglake.com/2009/03/20/aig-lawsuits-geithners-concern-not-mentioned-till-this-month/#more-38206
http://www.cnbc.com/id/29763023
http://dailybail.com/home/bailout-aig-breaking-news-tim-geithner-might-not-survive-the.html
The complete piece from yesterday with all the links, video and photos
http://dailybail.com/home/bailout-aig-bonus-congressional-videos-its-not-easy-being-ed.html
http://dailybail.com/home/aig-bailout-humor-the-aig-bonus-scandal-in-cartoons.html
Geithner and Brittney Spears seem to have the same publicist. Geithner alludes to being aware of the angler fish about to suck him in but he is 'Willy with the dynamite'. He has to see what happens when justice is served. Most of us avoid unpleasantries. but business is business. And sprats will always go for the litte worm on the top of the anglerfish's head.
GHW was ambassador to the U.N. at the time and hobnobbed with the eugenics crowd just like Prescott. Prescott was the director of German war bond sales in the U.S. until he was caught at it in 1942. He hired Nixon to run for office in California. Their s&b group has been loyal to England for at least 300 years. That's Prescott, two seats away from Hitler in Hitler's box when Jesse Owens showed them how it's done at the 1936 Olympics in Berlin.
If you want to admire or hold Nixon in awe, please do it downwind. We've been trying to bury him for over 17 years but fanatics keep digging him up and shaking him at us. It's never justified.
I have repeatedly mentioned that I believe B.O. has been worked on. The scars all over the back of his head would have taken two or three angry men with shovels. They are not inner ear surgery scars. Lobotomies, which cause a pathological passive condition in the subject, are done through the nares, or eye socket. The procedure frequently causes memory loss. B.O. has forgotten every promise of consequence since the election. And he publically submits and bows, regularly.
The fact that the CIA sealed his health, school, financial, property, and birth certificate records should sound a 'condition red' alarm in any political scientist or historian. Intrigues and lethal treachery has been the tradition in English royalty for centuries. Rome and central America, as well as the old Hawai'ian Kingdom also feature this self indulgence. Geithner, et al, serve as pirates to loot the coin of the realm from the U.S. stock market and place it in British protectorate off-shore accounts. Queen lizard and Chaalllz maintain they have "no authority" over these banks and cannot become involved in audits. The CIA was formed to be, and continues to be, loyal to England. FDR was dying and Truman ran a hat shop before becomming president as the OSS was renamed the CIA. The rats came out to play after nuking Hiroshima and Nagasaki unecessarily. The cabal that licensed and sited Fukushima was these same rats. They knew exactly what would happen when the next major tsunami hit and what the radiation would do. Linus Pauling got the Nobel Prize and the U.S. government verified the cancer-radiation factors with nuke exposure. But it gets worse.
Please refer to a search on 'Dimona dozen v. Fukushima 50' and review dutchsinse.com after seeing The History Channel's 'Weather Wars? That's Impossible' for clarification of the process and lethal aspects of the status of ongoing economic warfare against the U.S.,today. NWO=OWO+CFR(The Fed)+IMF