Wednesday, March 18, 2009

If U Seek AIG Me

I love the smell of petard hoistings in the morning.

The controversial AIG bonuses seemed to have been paid out of the $30 billion made available by the CURRENT administration. Looks like a court battle looms. Good luck.


White House, Dems backpedaling on AIG

AIG bonuses have Democrats reeling, unable to blame Bush; Republicans go on offense

(WASHINGTON) For the first time since last fall's election, Democrats and the Obama administration are backpedaling furiously on an issue easily understood by financially strapped taxpayers: $165 million in bonuses paid out at bailed-out AIG.

Republicans, struggling to regain their political footing, are content to let Democrats try to dig their way out of this mess on their own.

Professing shock at the bonus payments, Democrats have embarked on a hurry-up effort to impose what amounts to confiscatory taxes on the bonuses, a maneuver that almost surely will be tested in the courts.

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