The plot just continues to thicken on the AIG bailout now being overseen by Timothy Geithner, the Obama Administration’s Secretary of the Treasury.
It seems that not only was AIG loosey-goosey in its business practices prior to the September bailout, but apparently also now is being rather evasive with respect to just where the so-far 170 billion that the Treasury Department has given them has all gone. The list submitted on Thursday accounted for less than 60 billion, and was paid mostly to international banking concerns which apparently AIG determined had priority over their other investors.
Now the biggest surprise. According to the New York Times and various other news sources, AIG has now petitioned for payment by Sunday of over 165 million it claims are due and owing in bonuses to it’s top level executives. This, of course, is in addition to the over $400,000 which was spent on their retreats in California and Great Britain shortly after requesting Congress to bail them out at the American people’s expense.
Geither has weakly disputed and called for a reduction in the amount of the bonuses, actually stating that he had no legal authority to prevent the payment of the bonuses.
I have a newsflash for Mr. Geithner. Since Congress quite illegally consented to this bailout in the first place of this private, London based global insurer and which is not being overseen as any normal bankruptcy or reorganization would, through the American federal court system as a matter of public record, you most assuredly DO have the legal authority to demand accountability and to deny those bonuses. Mr. Geithner, your fiduciary duty is actually to the American people – or did you also forget that after taking YOUR oath of office.
Apparently also, it appears the bulk of those monies went to Goldman Sachs, a bank which is listed in the Encyclopedia Britannica and on various other whistleblower websites as an actual owner of the Federal Reserve itself. The Federal Reserve is a private, not public, banking institution after all instituted also by Congress rather unlawfully by the Wilson Administration.
This entire bailout now seems nothing more than a money laundering operation on a massive scale.
For further information:
http://www.reuters.com/article/ousivMolt/idUSTRE52A0TP20090311?pageNumber=2&virtualBrandChannel=0