Top Items:
Washington Post:
How the Fed Failed to Tell Obama About The Bonuses — Federal Reserve officials knew for months about bonuses at American International Group but failed to tell the Obama administration, according to government and company officials, exposing problems in a relationship that is vital to addressing the financial crisis.
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Massimo Calabresi / Time:
Treasury Learned of AIG Bonuses Earlier Than Claimed — Though Treasury Secretary Timothy Geithner told Congressional leaders Tuesday he only learned of the impending $160 million bonus payments to members of AIG's troubled financial products unit March 10, sources tell TIME that the New …
Discussion:
pw, Emptywheel, Betsy's Page, CBS News, TIME.com, The Curious Capitalist, TPMDC, Clusterstock, About.com US Liberal Politics, Gateway Pundit, Salon, Riehl World View, The Swamp and Gallup
Jackie Calmes / New York Times:
A.I.G. Uproar Is a Defining Moment for Geithner — WASHINGTON — All three of President Obama's top economic advisers were on message when they appeared Sunday on separate television talk shows. Treasury Secretary Timothy F. Geithner, they said, had concluded, based on lawyers' advice …
Stephen Ohlemacher / Associated Press:
House to vote on 90 percent tax for AIG bonuses — Featured Topics: - Barack Obama - Presidential Transition — WASHINGTON - The House is scheduled to vote today on a bill that would levy a 90 percent tax on bonuses paid to employees with family incomes above $250,000 at companies …
Discussion:
Michelle Malkin, New York Post, Associated Press, The Politico, JONATHAN TURLEY and But As For Me
Ryan J. Donmoyer / Bloomberg:
Dodd Blames Obama Administration for Bonus Amendment — Senate Banking Committee Chairman Christopher Dodd said the Obama administration asked him to insert a provision in last month's $787 billion economic- stimulus legislation that had the effect of authorizing American International Group Inc.'s bonuses.
Eamon Javers / The Politico:Can Geithner bounce back? — Some Republicans are calling for Timothy Geithner's head.
Washington Times:
EXCLUSIVE: Obama's $500,000 book bonanza — Deal reached 5 days before he took office — As he empathized with recession-weary Americans, President Obama arranged in the days just before he took office to secure a $500,000 advance for a children's book project, a disclosure report shows.
Peter Hamby / CNN:
Coach K disses Obama's basketball picks — WASHINGTON (CNN) - Duke basketball coach Mike Krzyzewski isn't thrilled his team got snubbed by the leader of the free world. — “Somebody said that we're not in President Obama's Final Four, and as much as I respect what he's doing, really …
Discussion:
Weekly Standard
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The Politico:
Dodd facing fresh political firestorm — Featured Topics: - Barack Obama - Presidential Transition — Sen. Chris Dodd (D-Conn.) looks like he may be facing a fresh political firestorm. — Dodd just admitted on CNN that he inserted a loophole in the stimulus legislation …
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Christopher Keating / Hartford Courant:
Dodd Admits Role In AIG Bonus Controversy — U.S. Sen. Christopher Dodd, already reeling in public opinion polls, suffered another political blow Wednesday with the admission that he had been involved in key legislative changes that helped pave the way for AIG to pay controversial bonuses to its employees.
Zachary A. Goldfarb / Washington Post:
Fannie Plans Retention Bonuses As Outlined by the Government — Fannie Mae, the federally run mortgage finance giant, plans to pay four top executives $1 million or more in retention bonuses. — The bonus plan prompted the company's federal regulator to defend compensation decisions …
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Evan Perez / Wall Street Journal:
Detainees May Be Released in U.S. — WASHINGTON — Attorney General Eric Holder said some detainees being held at Guantanamo Bay, Cuba, may end up being released in the U.S. as the Obama administration works with foreign allies to resettle some of the prisoners.
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Washington Post:
Our Must-Win War — The ‘Minimalist’ Path Is Wrong for Afghanistan — Later this month, the Obama administration will unveil a new strategy for the war in Afghanistan. This comes as most important indicators in Afghanistan are pointing in the wrong direction.
Josh Kraushaar / The Politico:
GOP hopes bonuses are election issue — Republicans are hoping to make the American International Group bonuses a major issue in the special election between Republican James Tedisco and Democrat Scott Murphy in New York's 20th District. — The National Republican Congressional Committee …
Discussion:
TIME.com
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Yves Smith / naked capitalism:
On the Fed's “Shock and Awe” — When some deemed the Fed's move today to expand its balance sheet by as much as a trillion dollars plus as “shock and awe”, I recalled that when that term was first used, at the beginning of the US invasion of Iraq. The notion was a display of superior force would lead to quick capitulation.
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Mike Allen / The Politico:
Bush begins writing ‘Decision Points’ — Former President George W. Bush has already written about 30,000 words of a memoir tentatively called “Decision Points” that will cover everything from how he found faith to how he quit drinking to how he chose Karl Rove and Dick Cheney for their jobs.
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Erik Schatzker / Bloomberg:
Citigroup Said to Commit $10 Million for New Executive Suite — Citigroup Inc. plans to spend about $10 million on new offices for Chief Executive Officer Vikram Pandit and his lieutenants, after the U.S. government injected $45 billion of cash into the bank.
New York Times:
Obama Administration to Stop Raids on Medical Marijuana Dispensers — WASHINGTON — Attorney General Eric H. Holder Jr. on Wednesday outlined a shift in the enforcement of federal drug laws, saying the administration would effectively end the Bush administration's frequent raids on distributors of medical marijuana.
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Charles Babington / Associated Press:
Schwarzenegger to help Obama answer GOP critics — Featured Topics: - Barack Obama - Presidential Transition — LOS ANGELES - President Barack Obama is playing a bit of divide and conquer this week, pitting his Republican critics in Washington against GOP governors and mayors eager …
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Reid Wilson / The Hill:
RNC to report $5.1M in February fundraising — The Republican National Committee (RNC) will report raising $5.1 million during the month of February when reports are filed Friday with the Federal Election Commission. — The number is down slightly from the amount the party raised in January …
Discussion:
MSNBC
DealBook:
Dissecting the A.I.G. Bonus Contract — Washington is filled with outrage over the $165 million in bonuses given out by the American International Group. Yet, as I said in my post on Tuesday, “Seven Sad Truths About A.I.G.,” the real concern over the insurance giant should be about the $170 billion …
Discussion:
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