Posted by
Kenneth Hanson on Tuesday, March 24, 2009 6:01:46 PM
Another AIG entanglement cropped up today. It turns out that Senator Chris Dodd’s (D-CT) wife was on the board of directors of an AIG company until 2004.
Maxine Waters (D-CA) has a similar conflict. Her spouse used to be on the board of directors of a bank that both her and her husband have a current financial interest. Ms. Waters recently intervened to make sure the bank received TARP funds. This is a bank that is already under government conservatorship due to an incompetent and lavish spending management team.
How can it be allowed by ethics rules for members of committees that regulate banks and financial institutions for their spouses to be officers or directors of, or to take campaign contributions from, or to have a personal financial interest in, or get a "special" mortgage (read, "bribe") from a financial institution?
Meanwhile, I caught a bit of the Geithner/Bernake testimony to Barney Frank’s banking committee today. Maxine Waters used her entire 5 minutes of questioning time to weave a harrowing and rather bizzare tale of conspiracy implying that Goldman Sachs was the evil “puppet master” that was secretly controlling all actions of Treasury and the Fed to Goldman Sachs ultimate financial benefit. Geithner was not amused and told Ms. Waters he did not appreciate her insinuations.
In more AIG fun facts Barack Obama received the second largest amount of campaign contributions from AIG, second only to Chris Dodd. Taking a few questions that other day before boarding Marine One for his Jay Leno California dreaming adventure Obama was asked about the contributions, and whether he will return those contributions. Obama did not even acknowledge the question and moved onto the next reporter. Perhaps for a bit of fun some intrepid reporter will ask again at his prime time press conference tonight. I assume that the reporter from the other day will not be on the pre-selected “call-on list” that team Obama prepares for him. Ask a tough question, and "Rahmbo" scratches you off the list for next time.