AIG
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Briefing Book! Prince Sings About the Economy
- Prince sings about AIG? – Wonkette
- Freedom tower will get a new name. — Gawker
- In the middle of the night, Yoko Ono wakes up in the dark.
Front Page: House Passes 90 Percent Tax on Bonuses
- The House has passed a bill that would levy a 90 percent tax on bonuses going to employees at bailed out companies. The Senate will vote next week on the bill. — Bloomberg
- Employees at AIG have hired security, as many fear for their safety.
Front Page: AIG's CEO Gets Grilled in Congress
- AIG's CEO is testifying before Congress today, expressing that he shares America's anger but had no choice but to make the "distasteful" bonus payments. — Huffington Post
- In a new poll, Rush Limbaugh has a 19 percent favorability rating. — CBS News
- The French government has criticized the Pope for opposing the use of condoms to prevent AIDS in Africa, calling the comments a danger to public health policy and human life.
Colbert Brings Pitchfork but Obama Might Not Stop Bonuses
Populism is all the rage these days. Americans are angry about the extravagant bonuses being doled out to AIG executives and they want Obama to stop it.
Last night on his show, Stephen Colbert promised to lead a mob of torch- and pitchfork-wielding taxpayers, angry that the bailout cash is being used in "ways we never see, to prop up business we don't understand."
Obama Will Try to Block AIG Bonuses — Are You On Board?
President Obama has ordered Treasury Secretary Timothy Geithner to do what he can to block millions of dollars in bonuses to AIG executives. The insurance giant has received billions in taxpayer money, but still plans to pay out $165 million to executives and traders working at the failing company.
Taxpayers have footed over $175 billion to AIG, which is now 80 percent owned by the government.
Front Page: White House Braces For Bailout Backlash
- After news that AIG used bailout funds to pay $165 million in executive bonuses, the White House is preparing for populist backlash against the bailout. — New York Times
- Joe Fritzl, the Austrian man who held his daughter captive in the basement for decades and fathered her children, has plead guilty to rape, incest, and false imprisonment. — Times of London
- A woman shot by a 30-inch arrow on the streets of New York City yesterday is recovering after surgery.
Bailed-Out Companies Expensing Perks to the Taxpayer?
Apparently there's a lot of cash to go around at insurance company AIG, which makes a lot of sense considering the US government cut the failing giant an $85 billion bailout check. In fact, since Sept. 16, AIG has received $123 billion in loans from the Federal Reserve.
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Front Page: Sarah Palin Memoir Will Hit Stands in 2010
- Palin memoir to hit stands 2010. — AP
- Pentagon to release photos of alleged prisoner abuse. — CNN
- Officials knew about AIG bonuses months before controversy.
Obama's Changing Americans' Behavior With Science
Remember hearing "record turnout is expected" before last year's election? Time reports it was the work of 29 of the world's most influential behavioral scientists, psychologists, and economists. They knew people are more likely to do something if they think others will do it.
Obama Wants Action and Patience to Get US Back on Course
Unsurprisingly, almost every question at tonight's press conference had to do with the economy. President Obama, who said we are beginning to "see signs of progress," took the opportunity to lay out his four priorities moving forward: health care, education, energy, and deficit reduction. When asked why it took him so long to express outrage over AIG's bonuses, Obama said: "It took us a couple of days because I like to know what I’m talking about when I speak."
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