March 20, 2009
Time line of bonuses per Hardball.
Sept 08: AIG revealed bonus plan in regulatory filings.
Sept 16: Fed saves AIG by pledging $85 billion
Oct 8: Fed pledges another $37.8 billion
Nov 08: US Treasury and Federal Reserve negotiated AIG’s retention payments and pledge a total of $150 billion
Present Treasury Secretary, Tim Geithner was President of the NY Federal Reserve at the time. The fact that he denied knowing about them says he’s either a liar or totally inept. Time will tell if he’s both.
Dec 08: Reps. Kanjorski & Cummings complained about bonuses.
Congress knew.
Feb 09: Federal Reserve told Treasury about bonuses — Geithner opposed tax on bonuses,
Geithner knew.
March 10: Geithner learned “the full scale” of bonuses.
He got caught.
March 12: Geithner told barry advisor Axelrod. He said choosing to go ahead with the bonuses – 70 people received $1 million each or more — was “secondarily a legal consideration and primarily a risk consideration.”
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AIG Timeline
Hardball: timeline of bonuses
Tim Geithner’s AIG Timeline
AIG $165M bonuses after $170B bailout
AIG bonus breakdown
barry on AIG (video)
AIG: Edward Liddy (video)
Tim Geithner on Charlie Rose (video)
Andrew Cuomo: $30M of AIG bonuses will be returned
Andrew Cuomo’s letter to AIG (10-28-08)
Chris Dodd: 33% approval rating
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