Bonus frenzy | Arkansas Blog

Tuesday, March 17, 2009

Bonus frenzy

Posted By on Tue, Mar 17, 2009 at 6:14 AM

A Democratic congressman says the Obama administration had the power to stop the AIG bonuses, but didn't move expeditiously.

Fascinating, if complicated. And not good for the administration. But it runs deeper.

But [Rep. Brad] Sherman also counseled wariness, as the nation gives in to expend anger over AIG's bonuses and largely ignores the weekend disclosure of the large banks who benefited because of their status as AIG counterparties in credit default swaps deals.

"Arguably, this thing with bonuses is a red herring they're throwing at us [to distract from what AIG] did with the $170 billion" they've received from the U.S. government, Sherman said. "The bonuses are chump change compared with what's going to the uninsured counterparties."

It doesn't matter, by the way, that the AIG bailout was the work of the previous administration. Obama owns it now.


Comments (7)

Showing 1-7 of 7

Add a comment

Subscribe to this thread:
Showing 1-7 of 7

Add a comment

More by Max Brantley

  • Also on the legislative agenda: Implanted microchips

    Also in the bill hopper today, legislation by Rep. Stephen Meeks to prohibit employers from implanting microchips in employees without their written consent and prohibiting making implantation of a chip a condition of employment.
    • Jan 16, 2019
  • The legislative shop of horrors: Kim Hammer's campus speech bill

    The latest in the parade of horrors in legislative bill filing is a proposal by Sen. Kim Hammer that purports to protect free speech on campus. Its point is to usurp control of campuses as a reaction to the widespread, but not particularly well-supported belief that liberal political correctness is running rampant on campus.
    • Jan 16, 2019
  • Wednesday: Headlines and the open line

    A legislative outrage leads the daily video roundup. Here's the open line.
    • Jan 16, 2019
  • More »

Readers also liked…

  • Is Arkansas in or out on Kobach voter data effort?

    The Washington Post has published a map that counts Arkansas as among states that will "partially comply" with a sweeping request for voter data by the so-called election integrity commission set up by Donald Trump in an effort to cast doubt on Hillary Clinton's 3 million-vote popular defeat of him in 2016.
    • Jul 2, 2017
  • Greenbrier's paddling of student protester goes worldwide

    The paddling of Greenbrier High School students who joined in te national school walkout Wednesday has produced headlines worldwide.
    • Mar 17, 2018
  • Rep. Mary Bentley's website now supports gay rights

    Somebody has cybersquatted on Republican Rep. Mary Bentley's website, replacing her messaging with a call for equal rights for LGBTQ people.
    • Jul 18, 2017


Most Recent Comments


© 2019 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation