Papa Mike's Blog

by Mr Pink Eyes

President Obama was shocked to learn that AIG gave out $165 million in bonuses after they took federal bailout money. At least that is what the president wants you to think.

But that is not entirely true, in fact the reason the bonuses were allowed to be handed out is because Chris Dodd wrote an amendment that allowed AIG to hand out the bonuses. Originally the amendment that Dodd wrote would have prevented companies who took bailout money from handing out bonuses but an Obama administration official, (probably the incompetent Timothy Geithner), demanded that Dodd remove that particular provision, clearing the way for the bonuses to be handed out.

There could be more than meets the eye behind the removal of the language that would have prevented the bonuses because we  learned that Chris Dodd and Barack Obama were the two biggest recipients of campaign donations from AIG, perhaps this was a little payback to some of the people with whom they are indebted for their elections.

But the connection between Barack Obama and AIG doesn’t end there. One of the president’s advisers was on the board of directors of AIG when these bonuses were negotiated.

Obama administration special envoy Richard Holbooke was on the American International Group Inc. board of directors in early 2008 when the insurance company locked in the bonuses now stoking national outrage

Richard Holbooke is using the same defense as the president; I didn’t know.

Mr. Holbrooke had nothing to do with and knew nothing about the bonuses

I am beginning to believe President Obama’s excuse that he didn’t know what was going on in regards to the bonuses, because every day I realize more and more that he doesn’t know what is going on around him, period.

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