Archive for the ‘Fox’ Category

AIG Bonus Flap: Lawsuit to Get Back $165 M Could Cost $300 M or More

March 17, 2009

The AIG bonus flap gets curiouser and curiouser.

Fox News is reporting that if the government demands repayment of the bonus money AIG already paid and recipients sue, the taxpayers could see $300 million or more burned up to recoup their $165 million.

The bonus money is $165 million — about 1/2 of 1% of the AIG bailout of $173 billion.

Dodd Allowed AIG To Thrive in His State, Approved Bonuses: Now Throws Them Under The Bus

From PBS blogger:

The outrage over AIG bonuses is echoing from Main Street to Washington, DC and can even be heard on Wall Street. How can it be that these “contracts” are so iron clad that the government has “done all it can legally do” to keep them from being paid, and they will still be paid? It would be more costly to prevent lawsuits? Huh? I say, let them sue. Then they’d have to show up in court and make their case. I, for one, would like a front row seat. The government has a whole army of lawyers; you mean to tell me they can’t muster the strength to fight these potential suits?

But what frustrates me most is that this has been coming for a long time. Runaway executive pay has been a story for decades. Shareholder activists have taken on the boards of big companies who failed executives with hundred million dollar pay packages and multi-million dollar perks. News outlets have tried to shame executives and boards into making changes, with reports of the most overpaid CEOs. AIG was long on this list. There were lawsuits for a “say on pay,” but the whole time executives’ pay grew. For the administration to say it has no choice but to pay out these bonuses, at the same time criticizing them, just seems like more of the same. Will it take riots in the streets for things to change? I hope not, but without real change, I fear that is where this country is heading.

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From Stephanie Dhue


Stimulus Too Late, Wasteful, Reckless; Toxic Assets and Banks Still Unaddressed

March 8, 2009

“The stimulus was reckless,” said Brit Hume on the Chris Wallace moderated  “Fox News Sunday” show today.

Government Struggling to Keep Up With Job Losses; “Stimulus” Too Late

“Wall Street is Main Street,” said Hume.  “Your talking about pension funds, retirement income lost….”

Bill Kristol said, “This is real money, real wealth lost by real people.  This isn’t just Wall Street.”

The discussion highlighted President Obama’s growing dilemma — and the nation’s growing unease.

With the Pelosi Team crafted stimulus, we “blew” more than $700 billion plus about $300 billion in interst payments.  Yet what have we gotten?  The New York Times said on Friday and again on Saturday, “2009 is probably a Lost cause.”


NYT Interviews Obama; No Economic Recovery This Year

 NYT: After March 6 Economic News, “2009 is Probably a Lost Cause”

Now how do we get going again?  Well, we need confidence and not because of what the president says. We are watching and waiting for what the president will do about our fist basic problem: toxic assets and banks.

Tim Geithner took a shot at this and failed miserably.  Now we need a plan — not talk.


$anjay Gupta Out of the Running for Surgeon General — Cha-Ching!

March 5, 2009

CNN Where are you?  Fox News is reporting that Sanjay Gupta may have taken his own name out of the mix for Surgeon General….He apparently does do the math, unlike Timothy Geithner, and has decided he makes too much money at CNN to help out his president and his country…….What a great American!  Cha-Ching!


Despite the initial fanfare, Sanjay Gupta looks to be out of the running for the post of surgeon general, according to the director of the group representing Gupta’s would-be health team. 

Jerry Farrell, who heads the Commissioned Officers Association, told Thursday that CNN’s chief medical correspondent is known to have taken himself out of consideration. 

“The general consensus from everybody is Gupta is no longer in contention … it’s more he’s withdrawing himself,” Farrell said, citing conversations he’s had with “well-placed” individuals. 

SanjayFarrell’s group represents the Commissioned Corps of the U.S. Public Health Service, which the surgeon general oversees. 

He said hopeful candidates have been calling his organization’s office since last week expressing their interest in the post after word got out that “the bidding process was open again.” 

A spokeswoman for CNN had no comment on Gupta’s standing, and Farrell said he has not spoken with Gupta personally. 

But considering two months have passed since CNN acknowledged Gupta was being vetted for the post, information about the progress of the surgeon general nomination is curiously scarce in Washington. 

“No one has yet been nominated or confirmed for the surgeon general position, and we’ve heard nothing,” said Jennifer Buschick, a spokeswoman with the Office of the Surgeon General. 

“We never [announced] a candidate for the post, and I don’t have any updates at this time,” a White House aide wrote in an e-mail to 

Farrell said he’s been told Gupta had misgivings about both the pay-cut he would have to take and the fact that he might be reporting to two high-level bosses. 

Gupta’s name surfaced after President Obama had tapped former Sen. Tom Daschle to be health secretary and the head of the new White House Office of Health Reform. Farrell said Gupta was apparently offered a dual position in the White House health reform office as well — and would have been serving under Daschle in both cases. 

But after Daschle withdrew his name because of tax problems, Obama subsequently nominated separate candidates for health secretary and health reform office director — meaning Gupta could have had two different bosses with different sets of priorities. 

“The parameters of the job were no longer clear and perhaps not as appealing,” Farrell said. “I just think the ground shifted underneath Dr. Gupta.” 

Then there was the pay cut. 

As surgeon general, Gupta would make about $153,000, according to public information on federal salaries. It’s unclear what Gupta’s contracts are currently worth, but the surgeon general salary would be considerably less. 

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President-Elect Obama Overexposed with TV, News Conferences, Adulation?

December 4, 2008

Do you ever recall a President-elect being on TV this much?  No, but Peace and Freedom can’t recall an economy and a world this worrisome either….

Obama’s Many “Number One” Priorities


From Slate

After holding four press conferences on four consecutive business days, Barack Obama took today off. (On the fifth day, as it is written, he rested. …) For those of us who dissect his every word, a day without a press conference poses a challenge. The solution is to turn our attention from figuring out what it means when he does speak to figuring out what it means when he does not.

President-elect Barack Obama listens to a reporter's question ...
Fatigue?  President-elect Barack Obama on TV again.  Here he listens to a reporter’s question after introducing New Mexico Governor Bill Richardson as nominee for commerce secretary during a news conference in Chicago December 3, 2008.(Jeff Haynes/Reuters)

Since winning the election, Obama has sought the right balance between saying too much and too little. He’s saying, “Help is coming, we’re on our way.” But since he can’t actually do anything yet, he’s quick to point out that “there is just one president at a time.”

This is good training for the balancing act he’ll face in office. He is the third president to govern during what I’ll call the news hyper-cycle, which demands a presidential response to nearly every incremental development. The questions for Obama and his aides are two: How often does he respond to the demand? And can he do anything to lessen that demand?


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