Obama is opposing AIG’s $170 million in bonuses.
But why has Obama not mentioned the much larger AIG giveaway of its bailout funds to foreign banks which total $37.2 billion?
This is 220 times the amount to be paid for AIG bonuses.
The known foreign recipients of this giveaway of U.S. taxpayer money from AIG’s bailout funds include:
- Société Générale of France ($11.9 billion)
- Deutsche Bank of Germany ($11.8 billion)
- Barclays of Britain ($8.5 billion)
- UBS of Switzerland ($5 billion)
That was your money, America. Gone overseas!
How does it help America to give away U.S. bailout funds to foreign banks?
Why doesn’t Obama mention this $37.2 giveaway to foreign banks?
Instead, he is making a lot of noise about the $170 million in bonuses, and directing his Treasury Secretary, tax dodging Tim Geithner, to stop the bonuses. (Which total less than one half of one percent of AIG’s $37.2 billion foreign giveaway!)
And is the total of the $37.2 billion foreign giveaway correct? Is it much higher? Do we know?
If AIG sent U.S. bailout money abroad, what about Citibank, and all the other fat cats that were bailed out by the U.S. taxpayers?
Where is the transparency?
Let’s stop playing smoke and mirrors, Mr. President.