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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.
Discussion:
Matthew Yglesias, Salon, Hartford Courant, USA Today, The Huffington Post, Wall Street Journal, Boston Globe, Firedoglake, MSNBC, RedState, Bloomberg, New York Post, Political Punch, The Hill, Guardian, Los Angeles Times, Right Wing News, Taylor Marsh, CBS News, Wake up America, The Corner, ProPublica, PoliBlog, Blog entry, Time, Comments from Left Field, The Plum Line, theheretik.us, The New Republic, Right Wing Nut House, JustOneMinute, The Raw Story, The Strata-Sphere, Flopping Aces and George's Bottom Line
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GOP wary of plan to tax AIG bonuses — A plan to recoup millions of dollars of American International Group bonuses by taxing them into oblivion has put top Republicans on opposite sides of a riddle: When is a tax hike not a tax hike? — House Minority Leader John A. Boehner (R-Ohio) …
Discussion:
Washington Monthly, Wall Street Journal, Right Wing News, American Power, The Swamp, DownWithTyranny!, MSNBC, TPMDC and Democratic Strategist
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House passes bill taxing AIG and other bonuses — Featured Topics: - Barack Obama - Presidential Transition — WASHINGTON - The Democratic-led House overwhelmingly approved a bill on Thursday to slap punishing taxes on big employee bonuses from AIG and other firms bailed out by taxpayers.
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First, they came for AIG bonuses
Discussion:
New York Post, Power Line, The Anonymous Liberal, Slate, Wizbang, A Blog For All and The Mahablog
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No New Taxes — I deplore this confiscatory tax aimed …
Discussion:
Wall Street Journal
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Duke Coach to Obama: Worry About the Economy, Not NCAA Picks — Reacting to news Obama picked North Carolina to win the NCAA Championship, Mike Krzyzewski says, “the economy is something that [the president] should focus on, probably more than the brackets.”
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13 firms receiving federal bailout owe back taxes — Featured Topics: - Barack Obama - Presidential Transition — WASHINGTON - At least 13 firms receiving billions of dollars in bailout money owe a total of more than $220 million in unpaid federal taxes, a key lawmaker said Thursday.
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AIG Bonuses Contemplated in '08, TARP Inspector Says — President George W. Bush's administration “specifically contemplated” paying bonuses to American International Group Inc. employees in its November agreement to provide federal bailout funds to the insurance giant …
Discussion:
Think Progress
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Audio comedy gold: Bozo the Vice President is looking out for you — The gaffetastic gift that keeps on giving. — In trying times, we can always count on Bozo the Vice President to provide some welcome comic relief. Joe Biden was The Newshour on PBS last night in full swagger …
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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.
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Julia Alasheyeva, Moscow — A picture has emerged apparently showing Russia's Prime Minister Vladimir Putin in his former days as a KGB officer. — The 20-year old photo depicts two world leaders - US President Ronald Reagan and the Soviet leader Mikhail Gorbachev - in Moscow.
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Sebelius has trouble in Kansas — And it's not a twister, Auntie Em. Kathleen Sebelius left her job as governor of Kansas to take a Cabinet position as Secretary of Health and Human Services in Barack Obama's administration, but she left unfinished business behind.
Discussion:
Conservatives4Palin.com
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IDF in Gaza: Killing civilians, vandalism, and lax rules of engagement — During Operation Cast Lead, Israeli forces killed Palestinian civilians under permissive rules of engagement and intentionally destroyed their property, say soldiers who fought in the offensive.
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Inside AIG-FP, Feeling the Public's Wrath — A solitary flat-screen television hangs on the back wall of the trading floor inside the headquarters of AIG Financial Products here. Wednesday afternoon, the most-talked-about employees in America huddled around it to find out just how despised they have become.
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Pelosi: House Dems blameless in AIG scandal — House Speaker Nancy Pelosi (D-Calif.) kicked blame for the insertion of a provision allowing for AIG bonuses to go forward to the White House and the Senate on Thursday morning, saying House Democrats bore no responsibility for the bonus language at the center of the AIG storm.
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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.
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Obama says energy research will create jobs — Featured Topics: - Barack Obama - Presidential Transition — POMONA, Calif. - President Barack Obama says his administration's plan to invest heavily in energy research now during hard times will create the kinds of jobs and technology the United States needs to survive economically.
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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.
Discussion:
Associated Press, The Caucus, JustOneMinute, Political Punch, Townhall.com, Wonkette and Pajamas Media
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On the Bloated Defense Budget — Robert Farley has a provocative observation about the defense budget: “If an analyst had proposed, during the Reagan administration, that the U.S. outspend the Soviet Union by a factor of 5-10, he or she would have been laughed out of government by Republicans and Democrats alike.”
Discussion:
MoJo Blog Posts
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AND EVEN DUMBER: THE IMPERIAL DEFENSE BUDGET.
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The Edge of the American West
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Top brass disturbed by GOP stalling of Iraq ambassador — There's one as yet unremarked constituency increasingly disturbed by some Republican senators' efforts to block the confirmation of former North Korea envoy Christopher Hill to be the next U.S. ambassador to Iraq: the U.S. military.
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The 100 People Who Are Changing America — It would be a luxury if the function of the list we present here were simply to shake ourselves out of complacency. But, unfortunately, we are far beyond that. With the election of Barack Obama and the deep hole that his predecessor left …
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No Return to Normal — Why the economic crisis, and its solution, — are bigger than you think. — B arack Obama's presidency began in hope and goodwill, but its test will be its success or failure on the economics. Did the president and his team correctly diagnose the problem?
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The Grievance Committee — Angry. So very, very angry. Unable to speak due to mega-anger washing over every pore and fiber of my being. Anger is in. (Hope's so ... January.) — I am extremely angry at Tim Geithner for being such a baby that he couldn't scare a bunch …
Discussion:
Washington Post, Commentary, Booman Tribune, Hullabaloo, Wall Street Journal and The Note
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Leading climate scientist: 'democratic process isn't working' — Protest and direct action could be the only way to tackle soaring carbon emissions, a leading climate scientist has said. — James Hansen, a climate modeller with Nasa, told the Guardian today that corporate lobbying …
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Norquist Opposes AIG Tax, But Says It Doesn't Break Tax Pledge — ABC News' Z. Byron Wolf reports from Capitol Hill: While everyone seems to be outraged about the $165 million in bonuses awarded to AIG executives at the troubled financial products division, the plan by Democrats in the House …