Obama: AIG is like … a suicide bomber

posted at 10:19 am on March 19, 2009 by Ed Morrissey

I’m pretty sure this won’t go down in history as Barack Obama’s finest moment:

But today, President Obama took that rhetoric in a different direction. He actually upped the ante explaining that AIG is like a suicide bomber.

“We had to step in, it was the right thing to do, even though it is infuriating,” Obama said, explaining why the government needed to bail out the troubled banks.

“The same is true with AIG,” he said. “It was the right thing to do to step in. Here’s the problem. It’s almost like they’ve got — they’ve got a bomb strapped to them and they’ve got their hand on the trigger. You don’t want them to blow up. But you’ve got to kind of talk them, ease that finger off the trigger.”

Well, that’s simply not true.  We sent $900 million to suicide bombers.  We gave AIG over $150 billion.

Speaking of which, now that we’ve identified Chris Dodd as a liar on the bonus codicil in Porkulus, isn’t it time to do the same for Barack Obama and the White House?  Let’s recall what Dodd said was his reason for rewriting his amendment to allow the AIG bonuses:

BLITZER: Well, so just to be precise, what we’re talking about, this mysterious loophole that was inserted at the last minute that allowed these bonuses in effect — now these bonuses, $165 million, to go forward. What I hear you saying is that, you personally, you did this in order — at the request of officials at the Treasury Department, Timothy Geithner, among others.

DODD: Well, I didn’t say who it was. But just say this, I wouldn’t have modified my own amendment at my own insistence. I mean, I spent a long time to having people try to be — change it. And obviously they came. And the alternative was losing the amendment. And I didn’t think we should do that at all.

BLITZER: Who asked you at the Treasury Department to do it?

DODD: Well, they were people, obviously, coming and negotiating with the staffs back and forth. And I don’t know their names specifically, it was at a staff level, people were talking about it.

Gee, would this be the same Treasury Department from the same administration that were “shaking with outrage” over these very bonuses?  Dodd’s a liar, but he’s not the only one in this debacle.  A conspiratorially-minded person might conclude that the administration deliberately enabled the bonuses so they could stoke populist outrage and push through more of their anti-business agenda.


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Chuck Schick on March 19, 2009 at 1:15 PM

Actually, this distraction is still working and beautifully played.

Nobody is talking about the trillion they spent yesterday.

getalife on March 19, 2009 at 1:18 PM

Thank You for having the stones to put in print what most of us are thinking. The stock market goes up; Obama delivers a blow to the markets, and down goes the stock market. Coincidence? Thirty-seven years of full time employment and dedication to building a retirement for myself and my wife, and I sit here watching a political party take it from me.

Is cuz you don’t DESERVE it, see. You rich.

You had advantages others didn’t, see. Not sure what they were, but you must have had them. You need to share with the others! Can’t you share your peanut butter sandwich? No? Well, we’ll *help* you share, then. You’ll feel better then, we promise.

No, I’m not bitter or anything, just because the same thing happened to me. And is happening. With newer ways for us to share coming down the pike at the rate of one a week, if not one a day.

Just loving getting old in the new Obamanation. Can’t wait for the rationed health care to kick in. Gotta take care of all those illegal immigrants, you know.

And if you worked and saved all your life, you simply need to think of those who haven’t lived long enough to save, or who would never save anyway, and give them your money! Have to pay for their big screen TV’s somehow!

It’s the American way! (Isn’t it?)

Alana on March 19, 2009 at 1:19 PM

Romeo13 on March 19, 2009 at 1:16 PM

Funny!

katy on March 19, 2009 at 1:19 PM

Actually, this distraction is still working and beautifully played.

Nobody is talking about the trillion they spent yesterday.

getalife on March 19, 2009 at 1:18 PM

Wow. So you’re cheering incompetence, waste and mismanagement, so long as its hidden from public view????

Chuck Schick on March 19, 2009 at 1:20 PM

Wow. So you’re cheering incompetence, waste and mismanagement, so long as its hidden from public view????

Chuck Schick on March 19, 2009 at 1:20 PM

No, I am outraged over the “lost” trillions we are paying for and hope the outrage will address the ones responsible for the “lost” trillions.

Your silly tea parties give them cover but if you want to protest with the rest of the Americans, the “lost” trillions is the way to go.

getalife on March 19, 2009 at 1:26 PM

getalife on March 19, 2009 at 1:18 PM

And the dems keep digging.

Johan Klaus on March 19, 2009 at 1:27 PM

You know the last 60 days would be freakin’ hilarious if they weren’t so damn infuriating…

Ltlgeneral64 on March 19, 2009 at 1:28 PM

getalife on March 19, 2009 at 1:26 PM

And digging.

Johan Klaus on March 19, 2009 at 1:28 PM

Just keep on giving them rope…

The republican campaign ads are just making themselves now.

Ltlgeneral64 on March 19, 2009 at 1:29 PM

No, I am outraged over the “lost” trillions we are paying for and hope (and change) the outrage will address the ones responsible for the “lost” trillions.

Your silly tea parties give them cover but if you want to protest with the rest of the Americans, the “lost” trillions is the way to go.

getalife on March 19, 2009 at 1:26 PM

Johan Klaus on March 19, 2009 at 1:29 PM

No, I am outraged over the “lost” trillions we are paying for and hope the outrage will address the ones responsible for the “lost” trillions.

Your silly tea parties give them cover but if you want to protest with the rest of the Americans, the “lost” trillions is the way to go.

getalife on March 19, 2009 at 1:26 PM

The CBO said the stimulus package will cost over 3 trillion over 10 years.

Why dont you start there?

Chuck Schick on March 19, 2009 at 1:31 PM

Johan Klaus on March 19, 2009 at 1:29 PM

I should add with the rest of the world too because they are outraged over the “lost” trillions too.

Cons tend to ignore this outrage and focus on a teleprompter.

Weird huh?

getalife on March 19, 2009 at 1:34 PM

O B A M A T E U R H O U R …

D2Boston on March 19, 2009 at 10:26 AM

President Obamateur. It’s perfect. Take a bow, D2.

Basilsbest on March 19, 2009 at 1:40 PM

And Obama KNOWS his suicide bombers.

HornetSting on March 19, 2009 at 1:41 PM

Why dont you start there?

Chuck Schick on March 19, 2009 at 1:31 PM

Lets start with where did the “lost” trillions go and how it happened.

getalife on March 19, 2009 at 1:42 PM

Hey, I have an idea….
Let’s not let the TROLL take over the thread.

IGNORE THE TROLL, HE WILL TAKE OVER THE THREAD AND IMPREGNATE YOUR DOG AND GERBIL.

HornetSting on March 19, 2009 at 1:44 PM

Just keep on giving them rope…

The republican campaign ads are just making themselves now.

Ltlgeneral64 on March 19, 2009 at 1:29 PM

I just hope they have the stones to use them….the Nancy illegal alien commercial may “INFLAME” immigrant ire, you know….

HornetSting on March 19, 2009 at 1:45 PM

Lets start with where did the “lost” trillions go and how it happened.

getalife on March 19, 2009 at 1:42 PM

First rule of filling holes- you have to stop digging first.

Chuck Schick on March 19, 2009 at 1:49 PM

Obama is getting as good as Biden with his “gaffes”. He is comparing a company, one that that we gave billions to, to a suicide bomber? What an idiot.

Obama is an embarrassment. He also needs to STOP CAMPAIGNING, STOP BEING A CELEBRITY and return to the WH AND DO HIS JOB.

becki51758 on March 19, 2009 at 1:49 PM

HornetSting on March 19, 2009 at 1:44 PM

AAGGHHH !! +100

katy on March 19, 2009 at 1:50 PM

Chuck Schick on March 19, 2009 at 1:49 PM

No, first find the hole.

getalife on March 19, 2009 at 1:53 PM

Chuck Schick on March 19, 2009 at 1:49 PM

No, first find the hole.

Chuck, ignor him because finding the hole will take great effort to first pull his its head out of it. That will take time and lots of help!

katy on March 19, 2009 at 1:57 PM

The hole is the ” lost trillions” katy.

Thankfully, our President will address this “hole” by regulations and is not distracted by the distractions.

Your party will say no to filling the “hole”.

Your party will continue to destroy the economy and should never have power.

getalife on March 19, 2009 at 2:04 PM

President Obamateur. It’s perfect. Take a bow, D2.

Basilsbest on March 19, 2009 at 1:40 PM

Seconded. Between this and TOTUS, I am “truly proud of my blog community.”

mikeyboss on March 19, 2009 at 2:23 PM

Anybody seen this? Its posted at Drudge. Apparently, Obama’s Teleprompter has it’s own blog…

loudmouth883 on March 19, 2009 at 2:34 PM

Huh, no link showed up, try again,

http://baracksteleprompter.blogspot.com/

loudmouth883 on March 19, 2009 at 2:34 PM

Your party will say no to filling the “hole”.

Your party will continue to destroy the economy and should never have power.

getalife on March 19, 2009 at 2:04 PM

I am Independent for a reason. I don’t trust either party and think the blame game is a distraction.

getalife on March 17, 2009 at 11:16 AM

Ignore this troll. He’s confused.

fogw on March 19, 2009 at 2:39 PM

The hole is the ” lost trillions” katy.

Thankfully, our President will address this “hole” by regulations and is not distracted by the distractions.

The hole is the trillions being printed to buy our own debt.

Which makes no sense, as the only result can possibly be rampant inflation.

Be proud of this monstrosity you’ve elected. Obama’s spent trillions trying to stave off a recession; what he’s gonna end up with is a depression and a devalued dollar.

But I forgot:

I credit Barry with fixing the economy – getalife 3/10/09.

So it’s all cool. Right.

lorien1973 on March 19, 2009 at 2:44 PM

No, first find the hole.

getalife on March 19, 2009 at 1:53 PM

Check your head. It’s a good place to start.

loudmouth883 on March 19, 2009 at 2:47 PM

Thankfully, our President will address this “hole” by regulations and is not distracted by the distractions.
getalife on March 19, 2009 at 2:04 PM

As usual,getalife is to busy yammering off huffington post
talking points than knowing what the he!! she is talking about.
Everytime a democrat like Obama is caught lying or tied up in a scandal, it is referred to as a “distraction”.

This is really hilarious coming from the liberals that have
been whinnying about Rush, Santelli,and NCAA brackets.

The Presidents choice for Treasury puts together TARP,AIG’s package which was one of the reasons why he was so “indispensable” and was the right man for the job according to Obama.
Geithner oversaw the entire process,the bonuses were so well known that they were even on the headlines of bloomberg.
(D) Dodd puts in a provision to make sure these bonuses are paid,having Obama’s treasury double check and make sure,then they are voted on in a spending package put together by the OBama administration,without Republicans being able to make amendments or be in on any discussions concerning the bill.
The democrats add to this by scrapping a provision, by one of the 3 Republicans to vote for it, that would have taxed the bonuses heavily.
Then Obama comes out and states “this is not the bill I thought I knew”.We didn’t know anything until a week ago.

Getalife may think that failed companies getting taxpayers money still getting bonuses fed to them by democrats and then having them lie about it all the way up to the position of the White House is a “distraction”,but a lot of Americans
based in the real world want the transparency and accountability for this massive screw up that Obama promised while he was campaigning.

The idea that the Bush administration did not put forth regulations is a myth by liberals to distract from their ignorance and criminal protection of failed entities like
Fannie/Freddie:


Bush’s Regulatory Kiss-Off
Obama’s assertions to the contrary, the 43rd president was the biggest regulator since Nixon.

http://www.reason.com/news/show/130328.html

Overall, the final outcome of this Republican regulation has been a significant increase in regulatory activity and cost since 2001. The number of pages added to the Federal Register, which lists all new regulations, reached an all-time high of 78,090 in 2007, up from 64,438 in 2001.

The Bush team has spent more taxpayer money on issuing and enforcing regulations than any previous administration in U.S. history. Between fiscal year 2001 and fiscal year 2009, outlays on regulatory activities, adjusted for inflation, increased from $26.4 billion to an estimated $42.7 billion, or 62 percent. By contrast, President Clinton increased real spending on regulatory activities by 31 percent, from $20.1 billion in 1993 to $26.4 billion in 2001.

lack of regulations were no more a part of the problem with AIG than they were for many of these failed businesses.
Regulations don’t mean anything if politicians teamed up with executives game the system and poke holes in them.
AIG had plenty of regulators on many levels and it did not stop them because they had help from Obama and his administration:

The Real AIG Outrage

http://rpc.blogrolling.com/redirect.php?r=503d6378b0e7bbf4f5488ec58d1fd50d&url=http%3A%2F%2Fwww.opinionjournal.com%2Fbest%2F

The Beltway crowd has been selling the story that AIG failed because it operated in a shadowy unregulated world and cleverly exploited gaps among Washington overseers. Said President Obama yesterday, “This is a corporation that finds itself in financial distress due to recklessness and greed.” That’s true, but Washington doesn’t want you to know that various arms of government approved, enabled and encouraged AIG’s disastrous bet on the U.S. housing market.

Scott Polakoff, acting director of the Office of Thrift Supervision, told the Senate Banking Committee this month that, contrary to media myth, AIG’s infamous Financial Products unit did not slip through the regulatory cracks. Mr. Polakoff said that the whole of AIG, including this unit, was regulated by his agency and by a “college” of global bureaucrats.

But what about that supposedly rogue AIG operation in London? Wasn’t that outside the reach of federal regulators? Mr. Polakoff called it “a false statement” to say that his agency couldn’t regulate the London office.

And his agency wasn’t the only federal regulator. AIG’s Financial Products unit has been overseen for years by an SEC-approved monitor. And AIG didn’t just make disastrous bets on housing using those infamous credit default swaps. AIG made the same stupid bets on housing using money in its securities lending program, which was heavily regulated at the state level.

Everybody that was in the economic business seemed to know about these bonuses.This news was known by Geithner,the fed,and major economic publications like bloomberg months before Obama says they knew anything:

AIG Gives ‘Retention’ Pay After Scrapping Bonuses (Update2)

http://www.bloomberg.com/apps/news?pid=20601087&sid=aRlALpvxQyZo&refer=home

By Hugh Son
Nov. 26 (Bloomberg) —

American International Group Inc., the insurer that said yesterday it scrapped bonuses for top executives after a U.S. bailout, will still pay 130 managers “cash awards” to stay with the firm, including $3 million to retirement services chief Jay Wintrob.

Wintrob, 51, will get the “retention” payment in two installments, the first in April 2009 and the rest a year later, New York-based AIG said today in a regulatory filing. The firm previously disclosed the program in a Sept. 26 filing and said today that Wintrob and Chief Financial Officer David Herzog elected to get the payments four months later than planned.

Obama and the democrats are in up to their necks in corruption,lies,and ripping off the American people while
liberals like getalife stay on their knees defending every amateurish and idiotic mistake by Mr. 57 states.

Baxter Greene on March 19, 2009 at 2:52 PM

Colen Powell’s assitant (or former assistant) accused Rush Limbaugh and Cheney of hate speech on CNN yesterday, enciting people like Sirhan Sirhan, Unibomber and John Harvey Oswald to do their violence. (Never mind that they were all leftists), but it seems to me this is real hate speech by the TOTUS.

Christian Conservative on March 19, 2009 at 3:01 PM

Obama should know
he is a muslim…

once a muslim always a muslim..

or your dead…

so i am not surprised..
after all obama doesnt care about american
neither does his wife ..
he cares about the muslims FIRST..

I am getting my weapons ready..

jcila on March 19, 2009 at 3:15 PM

Well, the tax bill passed with many gop voting for it.

getalife on March 19, 2009 at 3:22 PM

While continuing to respect the office of President and the authority of the person who occupies it, I have a suggestion.

Our prez has defined a new office, that of Presidential Poser.

He is Presidential Poser Barak Obama.

exdeadhead on March 19, 2009 at 3:47 PM

Obama is going to sing along like he’s doing karoke?

Baraoke will be the new rage.

Hey, that’s mine, from yesterday.

[/mebeingpetty]

Bruce in NH on March 19, 2009 at 4:05 PM

But just say this, I wouldn’t have modified my own amendment at my own insistence. I mean, I spent a long time to having people try to be — change it.

Is this even English? I don’t know WTF he just said here, other than making it clear he’s lying through his unnaturally large teeth.

redfoxbluestate on March 19, 2009 at 5:42 PM

I should add with the rest of the world too because they are outraged over the “lost” trillions too.

Cons tend to ignore this outrage and focus on a teleprompter.

Weird huh?

getalife on March 19, 2009 at 1:34 PM

Well, you’ve got to go after the one with the brain.

ddrintn on March 19, 2009 at 5:48 PM

getalife on March 19, 2009 at 1:26 PM

“silly” is getalife’s new favorite word. Can’t stop using it. It’s sounding kinda silly to me, too.

DrStock on March 19, 2009 at 6:04 PM

get a life:

You might think those tea parties are silly, but people have a right to speak their minds. Per usual the leftie {aka Independent} thinks the only opinions not silly are his own.

The Democrats took Congress over 2 years ago and they did nothing to head this off. Bush at least tried to get Fannie Mae under control and the Democrats blocked it. They went out of their way to create this situation. You can accuse the Republicans of not doing enough to stop it, but the Democrats went to great lengths to get the trainwreck going.

I was selling real estate a decade ago and my broker told me back then that sooner or later this little scheme would blow up in the faces of people like Frank and Dodd and the rest of them.

It did and we are all paying. And people like you are as usual obsessed with covering your asses rather than acting like responsible adults.

Obama is a joke.

Terrye on March 19, 2009 at 6:38 PM

In fact people like getalife did not even pay attention when Zinni said Saddam was a bigger threat than Osama and when Clinton said that Saddam had wmd and had to go.

This is what they do, rewrite and revise history to serve their political purposes and assume that most people won’t notice or don’t know any better. Sometimes that works, for awhile.

So now instead of Democrats talking about what a dangerous man Saddam was when it worked for them and then rewriting history when it did not…we have folks like getalife here pretending that Bush was the one who came up with the idea that handing out 100% loans to unqualified people could not backfire.

Not so long ago, the Democrats were proud to claim this policy as their own.

Terrye on March 19, 2009 at 6:43 PM

obama sounds less like a democrat and more like vladimir lenin and nancy and harry and barney and dodd are the rest of the bolsheviks.looks like golog for dinner.

wade underhile on March 19, 2009 at 7:23 PM

Well, the tax bill passed with many gop voting for it.

getalife on March 19, 2009 at 3:22 PM

And democrats voted overwhelming for it.

Combine this with the Obama administration not having a clue as to what it is doing,(D)Senators and the treasury head getting caught lying, and the democrats having struck out the amendment by a Republican to tax the bonuses in Obama’s spending bill pretty much the same way that they are going after it now is just more proof of how much of an amateur clown Obama is turning out to be along with the idiots that stay on bended knee for him.

Baxter Greene on March 19, 2009 at 7:40 PM

i read something interesting the other night about the stages of civilization. first comes bondage then spiritual awakening then liberty then abundance then selfishness then complacency then apathy then moral decay then dependence then…wait for it…BONDAGE.

Gulfcoastconservative on March 19, 2009 at 9:01 PM

Re: the accompanying pic

Is “the teleprompter kid” scanning the room for his trusty sidekick or is “Horton” listening for a clue?

Gohawgs on March 19, 2009 at 9:32 PM

Oh, but it’s a suicide bomber in a bank hold up…at least that’s what his lousy analogy morphed into.

Knucklehead.

Dr. ZhivBlago on March 19, 2009 at 10:27 PM

Ahh. The language of an ACORN Community Organizer. Alynsky style.

I hope the employees at AIG take a page out of the Dems playbook and don’t show up for work for about a week. Using the threats from the president of course!

TN Mom on March 19, 2009 at 10:52 PM

It is so late, and I just got home, so can’t read all of the comments yet. But if you’re looking for a caption under the picture – “wait I can’t see the teleprompter!” But I suppose someone else already mentioned that.

Bambi on March 20, 2009 at 12:31 AM

“The same is true with AIG,” he said. “It was the right thing to do to step in. Here’s the problem.

It’s almost like they’ve got —

they’ve got a bomb strapped to them and they’ve got their hand on the trigger.

You don’t want them to blow up.

But you’ve got to kind of talk them, ease that finger off the trigger.”

Metaphorically speaking, Mr pezz that’s a load of crap.

they’ve got a bomb strapped to them and they’ve got their hand on the trigger

So clear the area and put a bullet through the “a holes” head.

Will the bomb go boom?
Yes if its real.

However it could only go boom once.

DSchoen on March 21, 2009 at 1:55 PM

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