Really, Obama?  Really?

WASHINGTON – President Barack Obama said Wednesday no one in his administration created the mess at insurance giant AIG, including the much-maligned executive bonuses, but that “the buck stops with me” to fix it. Standing on the White House lawn as he prepared to go to California, Obama vigorously defended his embattled Treasury secretary, Timothy Geithner. Some have speculated that Geithner’s job could be in danger over his handling of the millions of dollars in bonuses that American International Group Inc., is giving its executives — even in the midst of a massive federal bailout.

Obama’s right that the buck stops with him, but he and his administration is at least party to blame for the bailout fiasco.

After all, didn’t Obama himself vote for the TARP bailouts when he was both a Senator and a candidate for President?  Hasn’t his Treasury Secretary, Tim Geithner, approved bailouts for AIG?  And while Senator Chris Dodd has owned up to inserting legislation protecting AIG’s bonuses into the “stimulus” bill, wasn’t it Obama himself who signed that bill into law?

Guess maybe Obama should have made some time to read that bill before signing it.  What’s more, Senator Dodd is saying that he inserted the legislation at the behest of…the Obama administration.

Frankly, this isn’t something Obama can just spin his way out of.  He supported the bailouts.  He signed the protections for AIG’s bonuses into law.  His Treasury Secretary has been approving bailouts for AIG He doesn’t get to just walk away from that.

Nor do any of the politicians.  They gave the money to AIG.  Many of them even took political contributions from AIG after the company got the bailouts.  If the politicians hadn’t given AIG the money in the first place, none of this would have happened.

View Original Article

Blogged with the Flock Browser