Today, President Barack Obama vowed to try to stop AIG from paying out hundreds of millions of dollars in bonuses to the very same executives that caused AIG’s problems.
Tonight there’s a new report from Reuters that shows that “Citigroup Inc awarded Chief Executive Vikram Pandit $10.82 million of compensation in 2008, a year when the government propped up the bank with $45 billion of capital.”
They are crooks and thieves… All of them. I’m mad as hell over all of this and everyone else should be too, but I got to say, Chuck Grassley’s an ass for making a statement like this on air.
President Obama had damn well better find a way to reign in these crooks and thieves on Wall Street before it’s too late. I think NY Attorney General Andrew Cuomo has the right idea.
As far as I am concerned AIG should be shut down. Done. Finished. Finito. And let that be a lesson, as they say, to any other corporate ho’s on Wall Street who play bonus games with taxpayer’s money.
UPDATE: Via Steve Clemons at The Washington Note:
AIG and Goldman both lied about their positions last September. And Hank Paulson and other major financial elites involved in the AIG bailout new it also.
That is the story we should be following — but few are paying attention.