The scandal over AIG bonuses continues to unravel and explode, and it looks like the Obama administration may be one of the culprits. And what hypocrisy from the Republicans! Back when Obama and Democrats tried to limit CEO bonuses for firms that received TARP funds, they opposed "government intervention" in private businesses. They OPPOSED limiting bonuses for the CEOs we bailed out. Now, conservatives are blaming the Obama administration, specifically Sen. Chriss Dodd, for the AIG fiasco. GOP Blasts Obama Adminisration for AIG
Now it turns out that Sen. Chris Dodd was pressured by the Obama Administration (probably Treasury Sec. Timothy Geithner and economic advisor Lawrence Summers) to take out the provision in the TARP plan that would have limited CEO bonuses!
What a mess! It is proof that Democrats, including high level Obama advisors like Geithner and Summers, have been trying to protect and cover their Wall Street pals all along. There will not be CHANGE in Washington until Obama dumps them and gets some real progressives on his economic team to fix this mess and protect American workers from bankers, speculators, and Wall Street greed!
The Republican Reich can't seem to get their story straight! The GOP's leader, Rush Limbaugh, and Sean Hannity are defending AIG and capitalism, and most Republicans in Congress OPPOSED attempts by Democrats to restrict CEO bonuses in the stimulus and TARP bills!
See Media Matters for the Right-Wing Lies and Hypocrisy on AIG
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