BREAKING: WASHINGTON (MarketWatch) — The Treasury Department will order failed insurance giant American International Group Inc. to repay the taxpayers up to $165 million that the company (AIG) is giving employees as bonuses, Treasury Secretary Tim Geithner said Tuesday. In a letter to congressional leaders, Geithner said the government can’t block the payments, which are being made under contracts signed before the government stepped in with $173 billion to prevent AIG from going bankrupt. Acknowledging “considerable outrage” about the bonus payments, Geithner said AIG will pay the Treasury an amount equal to the payments, and the Treasury will deduct that amount from the $30 billion in government assistance that will soon go to the company.
I still can’t believe that no one is talking about putting anyone in the iron bar hotel for what they have foisted on the world with their leveraging, and thinking they would never have to pay the piper! Is this because Paulson got some major behind the scenes agreement with Congress to let the dogs go? I heard this talked about prior to the signing of TARP 1, but never saw anything in the TARP legislation saying it was so. Yes, they are all crooks. Their ring leaders, Barney Frank and Chris Dodd need to resign!
