Reid: Congress intends to retrieve some AIG money

[kpete]

Source: Associated Press

Reid: Congress intends to retrieve some AIG money

By LAURIE KELLMAN – 17 minutes ago

WASHINGTON (AP) — Senate Democratic Leader Harry Reid said Tuesday Congress will force executives of American International Group to pay back at least some of the $165 million in bonuses they received after the insurance giant got billions in federal bailout money.

Reid, D-Nev., said that Senate Finance Committee Chairman Max Baucus will issue a proposal in the next day or so that would force AIG to return some of the money awarded to executives who oversaw its failure.

As outrage over the bonuses reached a new crescendo across the political spectrum, the Obama administration said it was trying to put strict limits on how future government bailout dollars can be used. But sharp questions have been raised about what the administration knew about the bonuses — and when.

Sen. Richard Shelby, the ranking Republican on the Senate Banking Committee, chastised the administration earlier Tuesday, saying Treasury Secretary Timothy Geithner should have blocked the payouts. Shelby charged that Geithner either knew or should have known about the bonuses.

Read more: http://www.google.com/hostednews/ap/article/ALeqM5iNRov...

[theoldman]

1. Lots of luck, Harry.

If Geithner should have known about the bonuses, his predecessor should have definitely known.

[msongs]

2. dear Stupid Harry - do not give AIG any more money please. nt

[radfringe]

3. SOME??? How much is "SOME"? 2-cents?

yeah....right..... sheesh

[No Elephants]

4. Shelby had nothing to say about Paulson and Bernancke, though? What a POS.

[chimpymustgo]

5. SOME??? LOLOLOLOLOLOLOLOLOL!! They are playing us like a fiddle. ALL OF THEM.

It's a truly bi-partisan gang rape.

[EFerrari]

8. Yes, it is. The bonuses were no surprise and this is just bad theater. n/t

[acmavm]

6. Oh yeah Harry. I believe this like I believe everything else that

comes out of your lying ineffectual mouth.

[RedCloud]

7. Try getting the $29 billion double paid to the other banks.

Then get the $165 million.