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You asked, Anderson answers
Re the House tax on bonus bill: No one has mentioned that the AIG bonuses went to people in London. As far as I know, those folks are not subject to the U.S. tax code. It seems to me this bill is a charade. It is not going to result in re-capture of the bonuses. Please look into this aspect and report on it.
Hi every one ,Hi Anderson you were great on the Ellen DeGeneres show today
Congress clearly passed this bill to put a 90% tax on all bonuses to use it to again take more money from the WORKING Class!
They did not impose this bill on AIG only! they will use it against ALL of you!
Now do you like them now!?
Isn't it a fact that the AIG bonuses were already approved by the Bush admin.?
Hi Anderson
Ratherthan rehashing the AIG Bonuses, how about some comment on the Billions AIG has given to foreign banks from the bail out money. I wuld lilke to hear a little more abut that.
I think that Obama is doing a great job so far! And as for the 90% tax on the AIG bonuses it needs no explanation who cares if some think he's trying to cover his tracks he's there to give the american people what they want. He's obviously sticking to his word!
We can't retire. I would love to...
I think it cool the President mentioned the special Olympics!! The children I work with will be so pleased to know that President might want to bowl with them!
Randi, I can't say if the treasury dept messed up because I still don't know all the facts, however, as angry as the bonuses make me, this total focus on it seems insane at the moment considering it is a drop in the bucket. It is just an indication of the problem of how the finance world has operated until now. What impresses me is how all the free market folks are yammering about it. One would think it fits right into their mania for "make what you can, to hades with everyone else". But I guess that would be a difficult position for them to sell right now.
Congress is not trying to help the Administration with the economy. Jobs are being lost people are loseing their home and you have a few people get millions in bonuses. That money should go to those who are in forclosure.
Get ready for some audience questions at Hofstra... and word is we'll have an extended set of questions/answers with Frans Johansson and Donna Rosato on the blog tomorrow!
I watched a clip were Obama criticizes people who say that he shouldn't be doing the celebrity circuit and campaigning likes it's still 2008 and that he should be focusing on the economy and all the bailouts , and Obama's great response is that he can do both, well if he could do both why did his administration put into the massive stimulus bill the wording for the AIG people get the bonuses without him knowing I would assume since he's so shock about them. Seems he can't do both.
Whenever Pres. Obama tries to be funny he winds up having to apologize for a politically incorrect remark. I 'm sure he is kicking himself for the careless remark he made on Leno about the special olympics but his supporters know he meant no disrespect to the physically challenged.
Did we really pay the congress to spend to whole day passing an unconstitutional bill? In Louisiana, we learn early, when they suspend the rules, it's a "play day"
I think all these bonus babies should be treated like everyday citizens ... and cabinet nominees. They should be allowed a visit from the IRS. If they run their personal finances like they ran AIG then the taxpayers will get satisfaction.
Tom, based on the feedback I've read so far, if you're the bad guy it sounds like it might be time for you to run for public office. You know these are people that are being talked about. Public eye yes. Who put them (Republicans and Democrats) there? If you don't like your congressperson or senator don't vote for them. Better yet, get involved.
Congress and the Senate are responsible, because it is they that passed the legislation and included the provision that has created the firestorm, and its the President for signing such a bill. To claim ignorance on any point in the bill would be sophmorish at best given the legions of people working for the President.
Wow... time to start passing out the pink slips to our congressmen and senators!!! If I managed my money like they have, I would be out of business... Oh, and if I didn't pay my taxes I would have the IRS at my door. Who can we hold accountable?? Writing email's to my state legislative leader’s just feels useless
Tom - Watch out "throwing elbows" or you'll be watching the game from the bench, 5 fouls!
Pres Obama is busy campaigning. I think they are already worried about him being re-elected. The inmates are running the asylum.
Hi Randi Kaye, Anderson & fellow bloggers
To try and answer your question Randi Kaye, there are most certainly "mixed messages " from the White House. I keep emailing the Pres. & V.P. and my Sen.' and Rep. to ask Where are the protections, regulations, RULES that we keep being promised with regard to all of the rescue plans (TARP 1 & 2, Stim Bill??)
@Tom...Gee, you look kinda good to me and I don't believe Randi would do that!
@Cherry..."Thought most of these people getting bonuses were the very ones that caused the problems in the first place."
Cherry, this is exactly the point I've been making all along–trying to "keep" them or calling them "experts" is just illogical.
I think AIG is just a distraction let's move on to something that matters!
Finally, a President that can multi-task. He's smart and I'm sooo glad he's in office.
and another thing--America will see an increase in stress related deaths because of all of this dishonesty! People have worked long and hard their whole lives to only see their life's savings and kids college funds go down the drain! It's an abomination.
Geitner and the Fed Reserve should have been way more speculating and particular about accepting people's bail out plans. If they break the rules, they shouldn't reap any rewrads. AIG sucks and those bonus crooks better sleep with the lights on!
Please, Mr. President Obama, stop the campaigning, get to work! Saying you are sorry for your mistakes is not helping us.
No I don't think it was all the treasury department!
I think that everyone in congress knew what was in that bill and if they didn't I really don't want any of them in office any longer! Because they are PAID to read and know what they are signing!
They are trying as usual to pass the blame!
Why was Tim Geithner kept in the dark about the AIG bonuses by Bernanke and Paulson even while he was called on to implement the AIG bailout?
Geithner did not learn about the AIG bonuses until March 10, 2009 even though the Treasury staff forced Chris Dodd to take the bonus lid out of the budget bill.
Stop it. It appears that most of what I and my peers worked so hard for over the past 50 years is being trashed by an arrogant, irresponsible President, staff and government. There is so much hatred and anger on the left it doesn't look good at all and that anger has been promoted by the President during the campaign and continues today. Lies prevail.
The business community is being abused and isolated from the solution.. They are the only ones that can put it back together.
I'm all for taxing those bonuses, but this might create a legal mess that can cost more in the future..It was written on their contracts..but I hope that they tax every cent.
Tim Geithner and Ben Bernanke should stay......both are comptent public servants who are looking out for the American "tax payer".
We need fewer more talented people in public service not......."traders" who know how to work the system to make $$millions on the backs of retirement savings of hard working Americans such as teachers, policmen, and firefighter!!
@Sharon – I think Obama's decision to appear in the public sphere at a relatively layman's level is a smart political one. He knows that he needs to keep citizens on his side, and what better way to do that than to create the image of himself as the "guy next door"? He's practically buying approval points with airtime.
my grandson son has Duchenne MD and i don't like his comments one bit. he would love to bowl any number but he can't even lift a bowling . Mr. obama needs to get back to washington and quit trying to be a movie star.
Tim Geithner's unnerves me. I don't know if he could be trusted. Seems he lacks instinct to do the right thing. Maybe he, himself is uncertain. Perhaps he lacks the confidence in his ability to do the job he was chosen to do.
I think congress doesn't need to set the President's schedule,he's reaching out to the public as he needs to and laying out his administration's approach, but I do think Republicans have a point when they say, the govt shld'nt run these private companies. Also the big picture is to get the financial sector moving, get credit loosened up so businesses start expanding and hiring. President Obama did a good job of explaining this priority last night in his town hall meeting in CA.
Randi Kaye, this is a MASSIVE problem for Geitner. His credibility is shot, and he's been in the job a month. How can Obama publicly rant about bonuses when his Treasury Secretary is pushing loopholes to let them stand?
I don't understand how congress can legally take the bonus money back. Hopefully, when the public knows the names of the executives, they will be pressured to give all of the money back.
I'm glad the president is out and about hearing from the people who guess what, are actually affected by the crookedness and politicing going on in Washington and Wall Street. President played the sax on the Arsenio Hall show, why no outcry then? I know President Obama should be working 24/7 although GW Bush was fine not working much of his eight years, but I'm excited to see him on the Tonight Show, a show I don't normally watch.
@ Randi: My concern is the same one Romey discussed on LKL. Who's the next target? Are business owners making widgets that everyone wants who are turning a profit in a bad market the next target? What about the Snuggie inventor? What if Congress determines Snugggies are making too much? This is insane to tax people. They bonuses should have been stopped PERIOD!
While I agree that the AIG execs do not deserve the bonus, it makes me feel uneasy that Congress could just step in and impose such high taxes on a certain group of people. I understand what they’re trying to do but this somehow seems wrong.
So, do you think it's on purpose that Anderson keeps talking about Bernie Madoff, one of our former trustees and an alum? If so, I'm laughing!
Leave the employees alone and go to the CEO's
God Bless Natasha Richardson's family.. Good job AC
Anderson,
I think President Obama filling out his "bracket" and appearing on Jay Leno is great! I feel some "candid" conversation rather than scripted speeches is a refreshing change in the political arena. Keep it up President Obama!
The Republicans need to chill, they seem to not realize it does not take two month to undo what they did in 8 years. Also the people love seeing president Obama all the time. Its ok to have fun and I truly don't think he intended to disrespect especila needs people with his remarks on Jay Leno, saying "especial olympics". After all don't we all have some sort of especial needs
Can you tell what it means when we call our handicap a handicap in gulf?
Unfortunately this is going to be a problem for Geithner but President Obama has already said that he is the one to blame...I'm glad that he is standing behind his administration and is maintaining that its the President's job to fix this! I don't think we should give up on the Treasury Secretary just yet.
I think President Obama should not have gone on the Jay Leno Show. While we all still need to laugh in these tough time, that is what comedians and entertainers are for. Seeing the man who is supposed to be 'fixing' America make politically incorrect remarks, talk about how cool it is to fly on Airforce One, and trying to make us all laugh during the worst and most stressful time for me in my lifetime due to this struggling economy, just does not instill confidence in me that he is doing what it takes to help us. I no longer trust Obama.
Obama's solution to everything is Spend and Waste more of the taxpayer's money. The better solution is to let AIG Fail and let other companies get the business. Then we won't be wasting the taxpayers' money.
With this AIG mess it seems that President Obama has picked the wrong time to go on the tonight show to me it sends the wrong message, he should be in Wahington getting to the bottom of what went wrong with this bonus fiasco I'am really dissapointed in this administration so far.
The tax on the bonuses is unbelievable it's to little to late and i'm not sure if it's even legal.
I just got a comment on the comment Obama made about his bowling score and his handicap, give me break already, I'm disabled and i can laugh at what he said, geesh. Always somebody complaining about what somebody else said.