Posted by: Susan | March 20, 2009

The Audacity of Incompetence

This video is from DECEMBER of 2008!  This is Congressman Don Manzullo questioning Assistant Treasury Secretary Neel Kaskari about AIG bonuses paid from bail-out funds. 

Furthermore, part of the initial TARP legislation was a requirement that an oversight board be created and meet at least monthly.  During the Bush administration, they met every two weeks.  Since 1/15/09, there have been NO meetings, in violation of federal law.  But wait, there’s more — on November 9, 2008, the board met and “reviewed and discussed the restrictions that would apply to AIG under the terms of the investment, including restrictions on corporate expenses, restrictions on lobbying, and limitations on executive compensation that would apply under EESA, as well as the additional limitations that would apply to senior executive compensation and bonuses.” (emphasis mine)   So the Treasury Department knew about the bonus issue months ago. 

I guess it’s understandable that someone who overlooks paying his taxes would overlook one of the key responsibilities of his job, then let everyone around him lie to the American people about it to cover up for his incompetence.

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