OBAMA,DODD,GEITHNER "PHONY OUTRAGE"

The White House should be ashamed of the "Phony" outrage that President Obama and Treasury Secretary Timothy Geinther is showing over the AIG bonus scandal. This Administration knew about the bonuses last week and did not tell the American people until the scandal was reported by the media. The bonus part of the scandal is that Treasury Secretary Geinther was one of the architects of the AIG bailout plan and he says that did not know anything about the bonus provisions in there contracts. President Obama said that Timothy Geinther was important selection to his Administration because he knew all the Wall Street players who started this crisis and he could help fix the problem. The President and Treasury Secretary Geinther are starting to become the economic team team that could not shoot straight. The Treasury Secertarty gave AIG a extra 30 billion dollars without any strings attached so, they could give out bonus to there failed "London Derivatives Unit" that lost 40 billions dollars and almost destroyed the company. This "Clown" Geinther is one of the most incompetent public servants I have ever seen and he has only been on the job for two months. I personally believe that Geinther should resign and President Obama should name a new Treasury Secretary but who wants to work for a incompetent President who believes in Socialism. There is a underlying story to this scandal because there was a provision that Sen. Olympia Snowe of Maine tried to put into the Dodd Amendment saying that corporations taking money from the federal government could no pay out more than $100,000 in bonuses to there company employees. This provision was stripped out of the Dodd Amendment at the last minute in the Conference Committee. The key question is who took out the provision so that AIG employees could get there bonuses. The biggest campaign recipients from AIG is Sen. Chris Dodd and President Obama and were the doing a favor for the failed company. Finally, the American people find out that Sen. Chris Dodd stripped the provision out of the stimulus bill because Treasury officials asked him to do it because, they thought the AIG contract bonuses were legal. Sen. Dodd also, said that the White Economic Adviser Larry Summers and Treasury Secretary Timothy Geinther knew about the bonuses weeks ago. The Democrats are starting to turn on each other because Sen. Wyden of Oregon is blaming Secretary Geinther for the AIG bonuses scandal. The Republicans are calling for Treasury Secretary Geinther to resign because of his incompetence in trying to handle this financial crisis. The Obama administration in the first two months has shown a level of incompetence that I have never seen in my lifetime and this is suppose to be the CHANGE WE ALL CAN BELIEVE IN.