In the Wake of AIG: Obama’s First Priority

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AIG is rapidly becoming a nightmarish metaphor for the Obama Administration’s problems administering the bailout of Wall Street. One central problem is the lack of transparency. According to some news reports, Treasury Secretary Tim Geithner knew weeks ago that AIG was planning to issue the bonuses to executives in its notorious credit default swap unit, […]

Stimulus Bill Limits TARP Executive Pay

Karen Bleier (AFP/Getty): Treasury Secretary Tim Geitner

Top executives at banks that got money from the TARP will face stricter compensation limits thanks to the stimulus bill.  That’s because tucked into the 1,071-page bill is a twelve-page section that goes much further than any limits imposed by the Bush administration or even contemplated by the Obama administration. The limits, which limit bonuses […]

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