As more and more details leak about how he handled various bailouts in the financial meltdown in 2008, above all the AIG bailout, the popular drumbeat for Tim Geithner's head should become ever louder.
If Obama were a real faux populist, he'd heed it. If he were to become a real populist, he'd heed it and make a good choice to replace Timmeh G.
Showing posts with label AIG. Show all posts
Showing posts with label AIG. Show all posts
January 27, 2010
January 07, 2010
Geithner told AIG to break the law
Well, technically, it was the collective voice of the New York Federal Reserve, which our current Treasury Secretary, Tim Geithner, headed at the time, which told insurer AIG not to reveal details of its federal bailout in 2008.
The biggest detail the NY Fed wanted kept under wraps is that AIG's default swaps partners, like Goldman Sachs, were paid 100 cents on the dollar.
You know, if Geithner had any honor, he would resign immediately.
If someone like Dennis Kucinich had the chutzpah, as in the last days of the Bush Administration, he would start impeachment proceedings if Geithner doesn't resign.
The biggest detail the NY Fed wanted kept under wraps is that AIG's default swaps partners, like Goldman Sachs, were paid 100 cents on the dollar.
You know, if Geithner had any honor, he would resign immediately.
If someone like Dennis Kucinich had the chutzpah, as in the last days of the Bush Administration, he would start impeachment proceedings if Geithner doesn't resign.
December 20, 2009
Team Obama ready to let AIG off the hook?
Eliot Spitzer et al are right that the country should be mad about what could be the latest and worst Obama Administration giveaway to Wall Street - selling the federal stake in AIG without combing through its e-mails.
November 16, 2009
Tim Geithner, best bud of AIG and Sachs
An audit faults the New York Federal Reserve Bank, then led by Tim Geithner, now our Treasury Secretary, for being too kind to AIG’s trading partners when it was bailed out last year. And, of course, a huge AIG partner was Goldman Sachs.
July 07, 2009
The man who broke AIG
Vanity Fair, fresh off of smoking Sarah Palin, has a much more in-depth piece on Joseph Cassano, the man who led AIG’s financial products unit into the toilet.
Cassano, without using the mathematical models of his predecessor, became willing to take on ever more risk, and to apply corporate risk modeling to consumer financial risk, in a very small nutshell.
And AIG CEO Hank Greenberg and the board apparently either didn’t know, or didn’t want to know, what he was doing. Nor did Greenberg’s successor, as, ironically, AIG was downgraded from AAA to AA the day he retired, even while Cassano was adding more subprime loans to his credit default swap portfolio.
And, losing the AAA rating, per a Cassano agreement, required it to start posting collateral on these CDSs. And that’s when trouble really started.
It’s a complicated story, but well worth a read.
Cassano, without using the mathematical models of his predecessor, became willing to take on ever more risk, and to apply corporate risk modeling to consumer financial risk, in a very small nutshell.
And AIG CEO Hank Greenberg and the board apparently either didn’t know, or didn’t want to know, what he was doing. Nor did Greenberg’s successor, as, ironically, AIG was downgraded from AAA to AA the day he retired, even while Cassano was adding more subprime loans to his credit default swap portfolio.
And, losing the AAA rating, per a Cassano agreement, required it to start posting collateral on these CDSs. And that’s when trouble really started.
It’s a complicated story, but well worth a read.
April 11, 2009
Protesting AIG and its Obama enablers in Dallas
I was one of about 30 people in front of what used to be AIG's Dallas office this afternoon. (The building nameplate, on floor 30 or whatever, still says AIG but I think they've vamoosed.
Unfortunately among the 30 were at least 2 9/11
The other 9/11
As you can see, I was killing plenty of birds with one stone, er, sign. I won't fight the duopoly with Mr. Megaphone Ron Paulhead, but, I told a couple of people who said they were still Democrats that Obama really hadn't made that much difference.
March 23, 2009
Miss Molly warned us about the AIGs of the world
Molly Ivins gave us the heads-up at the same time she sounded the alarm about Gramm-Leach-Bliley in particular and Phil ramm in general.
Yep, a full decade ago, some non-economists had more brains than Phil Gramm (not hard), Alan Greenspan and others.
“Too Big to Fail” will be the new order of the day. And guess who gets left holding the bag when they're too big to fail? One of these monsters goes down, and it will cost as much as the whole S&L debacle.
Yep, a full decade ago, some non-economists had more brains than Phil Gramm (not hard), Alan Greenspan and others.
March 22, 2009
Obama on ‘60 Minutes’ – has Geithner sandbagged him?
Thursday, he told Jay Leno on “The Tonight Shows” he was “stunned” by the bonuses themselves. Three nights later, he tells Steve Kroft on “60 Minutes” that, regarding public reaction to the bonuses, “I wasn't surprised by it. Our team wasn't surprised by it.”
Well, since everybody now knows that Treasury Secretary Tim Geithner has lied about when he first knew about the bonuses, we have a bit of a quandary here.
Did Obama also know early? Nobody’s directly asked him that question yet.
Or, did Geithner sandbag him?
Or was it just an honest slip-up by an overtaxed Geithner?
I think Option 2, perhaps, being charitable, with a bit of Option 3 in the mix, is the most likely.
That said, Obama also indicated he’s listening to long-term budget worries, and told Kroft, in essence, there’s a limit to what the government can spend.
Obama later tipped his hand that he might continue to be Bush Light on the War on Terror, however he renames it or its participants:
Unfortunately, in asking about the war in Afghanistan, Kroft asked not a word about the expansion of Bagram Air Base into Gitmo 2.0.
Well, since everybody now knows that Treasury Secretary Tim Geithner has lied about when he first knew about the bonuses, we have a bit of a quandary here.
Did Obama also know early? Nobody’s directly asked him that question yet.
Or, did Geithner sandbag him?
Or was it just an honest slip-up by an overtaxed Geithner?
I think Option 2, perhaps, being charitable, with a bit of Option 3 in the mix, is the most likely.
That said, Obama also indicated he’s listening to long-term budget worries, and told Kroft, in essence, there’s a limit to what the government can spend.
Obama later tipped his hand that he might continue to be Bush Light on the War on Terror, however he renames it or its participants:
Now-- do these folks deserve Miranda rights? Do they deserve to be treated like a shoplifter-- down the block? Of course not.
Unfortunately, in asking about the war in Afghanistan, Kroft asked not a word about the expansion of Bagram Air Base into Gitmo 2.0.
March 21, 2009
‘Paulsonism’ is the $10 trillion word of the day
And, not a damn thing to legally do…
Well, one of several words and phrases of the day from Matt Taibbi, who explain how former Treasury Secretary (and former Goldman Sachs CEO) Henry Paulson joined with former AIG CEO Hank Greenberg, Phil Gramm and many others royally screwed over the country either directly or indirectly, by commission or omission.
Basically, the thrust of Taibbi’s story, in depth and snarky, is that Wall Street has become like former GM CEO Charlie Wilson, and essentially saying, “What’s good for Wall Street is good for the nation.” And, since these financial instruments are a bit more complex than a 1955 Bel-Air, Wall Street and its government enablers can flip the public the bird:
And, speaking of those government enablers …
Forget TARP or TARP 2.0; direct Federal Reserve money-pushing has already shuffled off $3 trillion or so to these monoliths of megalomania, via loans, and perhaps as much as $6 trillion more through guarantees.
That’s nearly $10 trillion to the likes of AIG. And it’s current CEO, Edward Liddy, wonders why we’re so pissed off?
So, who puts the reins on the Fed? According to Taibbi, on page 7, The Accounting and Auditing Act of 1950 – relevant section, 31 USC 714(b) – says NOBODY. That’s right, Ben Bernanke can flip you and me off, too, allegedly.
And, of course, he has, with the full connivance of Geithner, who knows the Fed flip-off ropes from his former position running the NY Fed.
Meanwhile, while cronies of Paulson get the money with no questions asked, after five months of the TARP program, Joe Blow banks, in some cases, not only haven’t gotten any money, they haven’t even gotten a phone call.
Oh, don’t look for Team Obama to change this, either. It, too, gets a full blast of Taibbi’s scorched-earth writing:
But, Obama will never fire Geithner. Per the start of Taibbi’s report, Democrats have been in the tank for Wall Street for a decade, and, although Taibbi doesn’t come out and say it, Obama is Poster Child No. 1 for that, worse than the Slickster ever was.
Is that Rev. Jeremiah Wright I hear?
Warm up the pipes, Rev.; you can substitute for the fat lady
Well, one of several words and phrases of the day from Matt Taibbi, who explain how former Treasury Secretary (and former Goldman Sachs CEO) Henry Paulson joined with former AIG CEO Hank Greenberg, Phil Gramm and many others royally screwed over the country either directly or indirectly, by commission or omission.
Basically, the thrust of Taibbi’s story, in depth and snarky, is that Wall Street has become like former GM CEO Charlie Wilson, and essentially saying, “What’s good for Wall Street is good for the nation.” And, since these financial instruments are a bit more complex than a 1955 Bel-Air, Wall Street and its government enablers can flip the public the bird:
As complex as all the finances are, the politics aren’t hard to follow. By creating an urgent crisis that can only be solved by those fluent in a language too complex for ordinary people to understand, the Wall Street crowd has turned the vast majority of Americans into non-participants in their own political future.
And, speaking of those government enablers …
Forget TARP or TARP 2.0; direct Federal Reserve money-pushing has already shuffled off $3 trillion or so to these monoliths of megalomania, via loans, and perhaps as much as $6 trillion more through guarantees.
That’s nearly $10 trillion to the likes of AIG. And it’s current CEO, Edward Liddy, wonders why we’re so pissed off?
So, who puts the reins on the Fed? According to Taibbi, on page 7, The Accounting and Auditing Act of 1950 – relevant section, 31 USC 714(b) – says NOBODY. That’s right, Ben Bernanke can flip you and me off, too, allegedly.
And, of course, he has, with the full connivance of Geithner, who knows the Fed flip-off ropes from his former position running the NY Fed.
Meanwhile, while cronies of Paulson get the money with no questions asked, after five months of the TARP program, Joe Blow banks, in some cases, not only haven’t gotten any money, they haven’t even gotten a phone call.
Oh, don’t look for Team Obama to change this, either. It, too, gets a full blast of Taibbi’s scorched-earth writing:
The real question from here is whether the Obama administration is going to move to bring the financial system back to a place where sanity is restored and the general public can have a say in things or whether the new financial bureaucracy will remain obscure, secretive and hopelessly complex. It might not bode well that Geithner, Obama's Treasury secretary, is one of the architects of the Paulson bailouts; as chief of the New York Fed, he helped orchestrate the Goldman-friendly AIG bailout and the secretive Maiden Lane facilities used to funnel funds to the dying company. Neither did it look good when Geithner — himself a protégé of notorious Goldman alum John Thain, the Merrill Lynch chief who paid out billions in bonuses after the state spent billions bailing out his firm — picked a former Goldman lobbyist named Mark Patterson to be his top aide.
But, Obama will never fire Geithner. Per the start of Taibbi’s report, Democrats have been in the tank for Wall Street for a decade, and, although Taibbi doesn’t come out and say it, Obama is Poster Child No. 1 for that, worse than the Slickster ever was.
Is that Rev. Jeremiah Wright I hear?
God DAMN Barack Obama; God DAMN Barack Obama …
Warm up the pipes, Rev.; you can substitute for the fat lady
March 20, 2009
Chutzpah alert – AIG sues government
As in its 80 percent shareholder, the government. It’s not over the bonuses, but over the IRS saying it got too creative with offshore tax shelters.
Shock me.
Shock me.
March 19, 2009
Reverse evolution of Democratic Presidents
Of the last few modern Democratic presidents, it sure seems to me like each is more conservative than his predecessor.
LBJ? Set aside ’Nam, and he’s clearly a liberal.
Carter? Semi-liberal, and probably more so, in some ways, than the majority of the Congress he couldn’t work with.
Clinton? DLC Democrat, long before taking hits from the crack pipe of Dick Morris’ “triangulation.”
Obama? Jury so far says, latching on to most of Bush’s “presidentialism” power grab, and in the hip pocket of Big Finance.
LBJ? Set aside ’Nam, and he’s clearly a liberal.
Carter? Semi-liberal, and probably more so, in some ways, than the majority of the Congress he couldn’t work with.
Clinton? DLC Democrat, long before taking hits from the crack pipe of Dick Morris’ “triangulation.”
Obama? Jury so far says, latching on to most of Bush’s “presidentialism” power grab, and in the hip pocket of Big Finance.
Let AIG fail? Here’s the case for
Ari J. Officer has one central point: It would lance the still-inflated credit bubble faster than anything.
Beyond that, Officer says AIG’s plight may not be so bad as believed, primarily because it may have multiply-insured the same credit default swaps, kind of like selling insurance on the same house to multiple investors.
Given everything else we’re learning about AIG, this would in no way surprise me, were it true.
Finally, if CDSs are a zero-sum game, Officer says SOMEBODY wins if AIG loses.
So, let’s let it fail. Fuck Tim the Douche Bag Geithner and his boss, Mr. former No. 2 AIG Senator.
Beyond that, Officer says AIG’s plight may not be so bad as believed, primarily because it may have multiply-insured the same credit default swaps, kind of like selling insurance on the same house to multiple investors.
Given everything else we’re learning about AIG, this would in no way surprise me, were it true.
Finally, if CDSs are a zero-sum game, Officer says SOMEBODY wins if AIG loses.
if the number of institutions involved in swap-trading were limited to those trading with AIG, then AIG is probably not too big to fail. We have to worry about chains of claims. Just because AIG dealt only with banks does not mean those banks did not rewrite similar contracts with hedge funds.
So, let’s let it fail. Fuck Tim the Douche Bag Geithner and his boss, Mr. former No. 2 AIG Senator.
Guess who’s coming to – the AIG – dinner
It’s true that Connecticut Sen. Chris Dodd was the largest Senate receiver of AIG largesse in the 2008 election cycle.
But, who was No. 2?
Why, a certain former junior senator from Illinois. The plot and the shit both thicken.
Ahh, you Obamiacs… having fun today? Is this the change you voted for?
All you people, alleged “liberals,” who attacked me (and people like me), for touting a Green Party vote last year, ready to start eating the MASSIVE plate of crow on your dinner table?
But, who was No. 2?
Why, a certain former junior senator from Illinois. The plot and the shit both thicken.
Ahh, you Obamiacs… having fun today? Is this the change you voted for?
All you people, alleged “liberals,” who attacked me (and people like me), for touting a Green Party vote last year, ready to start eating the MASSIVE plate of crow on your dinner table?
Another day, another Geithner lie
Treasury Secretary Tim Geithner knew the basics of the AIG bonuses 10 days before he claimed he did. And, his old place of work, the New York Fed, even warned about retention bonuses.
We know Obama won't fire him. How about some GOP Congressmen, even if for purely partisan reasons, pushing impeachment?
We know Obama won't fire him. How about some GOP Congressmen, even if for purely partisan reasons, pushing impeachment?
March 18, 2009
Dodd falling on sword, or being pushed off the plank?
And, if you ask me which metaphor is true, it’s clearly No. 2
Senator Chris Dodd admits HE inserted the retroactive bonus donning provision … BUT …
At the request of Team Obama, as he made clear in a follow-up statement:
Dodd added that the alternative was losing his amendment on bonuses in the stimulus bill, entirely.
Tis true that Dodd was the largest Senate receiver of AIG largesse in the 2008 election cycle.
But, who was No. 2?
Why, a certain former junior senator from Illinois. The plot and the shit both thicken.
Plus, Treasury Secretary Tim Geithner knew the basics of the AIG bonuses 10 days before he claimed he did. And, his old place of work, the New York Fed, even warned about retention bonuses.
The phrase “fucking douche bag” comes to mind.
Senator Chris Dodd admits HE inserted the retroactive bonus donning provision … BUT …
At the request of Team Obama, as he made clear in a follow-up statement:
“I did not want to make any changes to my original Senate-passed amendment but I did so at the request of Administration officials, who gave us no indication that this was in any way related to AIG. Let me be clear – I was completely unaware of these AIG bonuses until I learned of them last week.
Dodd added that the alternative was losing his amendment on bonuses in the stimulus bill, entirely.
Tis true that Dodd was the largest Senate receiver of AIG largesse in the 2008 election cycle.
But, who was No. 2?
Why, a certain former junior senator from Illinois. The plot and the shit both thicken.
Plus, Treasury Secretary Tim Geithner knew the basics of the AIG bonuses 10 days before he claimed he did. And, his old place of work, the New York Fed, even warned about retention bonuses.
The phrase “fucking douche bag” comes to mind.
Washington Monthly drinks Obama Kool-Aid on AIG
Steve Benen actually takes Obama’s “righteous indignation” over AIG at face value.
You know how this is feigned, not real outrage?
Rather than using one of more of the plenty of already existing federal regulatory agencies, Obama, as is seemingly his wont, proposes to create a new agency.
On the narrow issue of AIG bonuses, little Timmy Geithner and sock-puppetmaster Larry Summers killed a simple Senate line item five weeks ago. No new, or even current, regulatory agency was needed.
On the broader issue, you want to regulate banks? Just give the FDIC new powers. Trading of investments? Beef up the SEC (remember that little thing called Glass-Steagall) or other financial institutions.
No new inventions needed.
You know how this is feigned, not real outrage?
Rather than using one of more of the plenty of already existing federal regulatory agencies, Obama, as is seemingly his wont, proposes to create a new agency.
On the narrow issue of AIG bonuses, little Timmy Geithner and sock-puppetmaster Larry Summers killed a simple Senate line item five weeks ago. No new, or even current, regulatory agency was needed.
On the broader issue, you want to regulate banks? Just give the FDIC new powers. Trading of investments? Beef up the SEC (remember that little thing called Glass-Steagall) or other financial institutions.
No new inventions needed.
Team Obama starts crapping on Chris Dodd
What else can you call the clusterfuck of fingerpointing by the Obama Administration against the Connecticut Senator over AIG bonuses, even as President Barack Obama himself says Geither has his full confidence.
How’d we get here? Ask Geithner why he pushed to REMOVE retroactivity on bonus checks from the final version of the 2009 lenders’ bailout bill; a provision Dodd inserted in the Senate version.
And now, Obama completes the crapping with more bullshit, this time over the alleged need for a new financial regulatory agency.
Or ask this head up his ass Kossack why he doesn’t get it, even as I laugh in schadenfreude at the other Kossacks posting there telling him his “greatest president in history” needs to do something to earn the honor.
I’m laughing in schadenfreude because, three or so years ago, people like that helped get me banned.
Beyond that is the issue of the transparency of Team Obama lies. It must be something else it picked up from BushCo and decided to keep.
I mean, this one is a couple of steps short, even, of “the dog ate my homework.”
Remember when Obama said he wasn’t worried about conservative attacks because he’d been through Chicago politics? Well, shamefully, he’s showing just how much he learned.
How’d we get here? Ask Geithner why he pushed to REMOVE retroactivity on bonus checks from the final version of the 2009 lenders’ bailout bill; a provision Dodd inserted in the Senate version.
And now, Obama completes the crapping with more bullshit, this time over the alleged need for a new financial regulatory agency.
Or ask this head up his ass Kossack why he doesn’t get it, even as I laugh in schadenfreude at the other Kossacks posting there telling him his “greatest president in history” needs to do something to earn the honor.
I’m laughing in schadenfreude because, three or so years ago, people like that helped get me banned.
Beyond that is the issue of the transparency of Team Obama lies. It must be something else it picked up from BushCo and decided to keep.
I mean, this one is a couple of steps short, even, of “the dog ate my homework.”
Remember when Obama said he wasn’t worried about conservative attacks because he’d been through Chicago politics? Well, shamefully, he’s showing just how much he learned.
March 17, 2009
VandeHei calls AIG bullshit on two-party duopoly
Nothing like a feigned sense of outrage by politicos to CYA for what should be the real outrage AGAINST politicos of both parties.
Considering AIG’s bonus payment plans have been on the books for a year (during which time Treasury Secretary Tim Geithner headed the NY Fed and oversaw AIG), the outrage is feigned indeed.
How’d we get here? Ask Geithner why he pushed to REMOVE retroactivity on bonus checks from the final version of the 2009 lenders’ bailout bill.
Considering AIG’s bonus payment plans have been on the books for a year (during which time Treasury Secretary Tim Geithner headed the NY Fed and oversaw AIG), the outrage is feigned indeed.
How’d we get here? Ask Geithner why he pushed to REMOVE retroactivity on bonus checks from the final version of the 2009 lenders’ bailout bill.
Brad Sherman pegged Tim Geithner
Here’s more of why you shouldn’t be surprised Geithner let himself get punked.
California Democratic Rep. Brad Sherman told Bloomberg last week that AIG should be put into receivership.
(Further Goldman Sachs connection – AIG CEO Liddy was on Goldman Sachs’ board of directors when Henry Paulson was its CEO.
Now, Sherman tells Talking Points Memo Treasury ALREADY has the power to void the bonuses.
Sherman adds that this is why he voted against the original bailout: he didn’t think Treasury would use that power.
And, why does TPM disable user comments on this story? C’mon, Josh.
If you want to cut off the AIG gravy train, Jane Hamsher has a petition drive.
In the meantime, don’t believe Obama’s claim to be an everyman on this issue until he proves it.
Or, here’s another way Sherman put it:
Someone give this Congressman a cigar!
California Democratic Rep. Brad Sherman told Bloomberg last week that AIG should be put into receivership.
(Further Goldman Sachs connection – AIG CEO Liddy was on Goldman Sachs’ board of directors when Henry Paulson was its CEO.
Now, Sherman tells Talking Points Memo Treasury ALREADY has the power to void the bonuses.
Sherman adds that this is why he voted against the original bailout: he didn’t think Treasury would use that power.
And, why does TPM disable user comments on this story? C’mon, Josh.
If you want to cut off the AIG gravy train, Jane Hamsher has a petition drive.
In the meantime, don’t believe Obama’s claim to be an everyman on this issue until he proves it.
Or, here’s another way Sherman put it:
“The problem now isn't too big to fail. It's too well-connected to fail.”
Someone give this Congressman a cigar!
March 16, 2009
Do you trust Geithner-Summers on AIG?
I don’t. Whether through stupidity, or willing cooperation, Geithner let himself get punked by AIG, as a letter to him AIG CEO Edward Liddy shows.
Remember, AIG’s No. 1 bailout pass-through beneficiary is Goldman Sachs of Geithner-Summers background and massive Obama campaign donations.
So, you have Summers claiming AIG bonus contracts are inviolable. Of course, Glenn Greenwald calls bullshit on that idea, with counter-examples.
And, if AIG doesn’t like that, we can either take back the bailout money or nationalize it.
(If you think Geithner-Summers will actually do either one. A reader snarks at the end of Glenn’s post, that Obama could just give AIG immunity similar to the telecom immunity he flip-flopped on last summer.)
Obama SAYS he’s telling Geithner to find a way to reign in the bonuses. Uhh, sure.
In the next breath, Obama says he ISN’T planning on taking AIG to court. Like with the stimulus package, he’s starting from a position of compromise.
Here’s more of why you shouldn’t be surprised Geithner let himself get punked.
California Democratic Rep. Brad Sherman told Bloomberg last week that AIG should be put into receivership.
(Further Goldman Sachs connection – AIG CEO Liddy was on Goldman Sachs’ board of directors when Henry Paulson was its CEO.
Now, Sherman tells Talking Points Memo Treasury ALREADY has the power to void the bonuses.
Sherman adds that this is why he voted against the original bailout: he didn’t think Treasury would use that power.
And, why does TPM disable user comments on this story? C’mon, Josh.
If you want to cut off the AIG gravy train, Jane Hamsher has a petition drive.
Remember, AIG’s No. 1 bailout pass-through beneficiary is Goldman Sachs of Geithner-Summers background and massive Obama campaign donations.
So, you have Summers claiming AIG bonus contracts are inviolable. Of course, Glenn Greenwald calls bullshit on that idea, with counter-examples.
And, if AIG doesn’t like that, we can either take back the bailout money or nationalize it.
(If you think Geithner-Summers will actually do either one. A reader snarks at the end of Glenn’s post, that Obama could just give AIG immunity similar to the telecom immunity he flip-flopped on last summer.)
Obama SAYS he’s telling Geithner to find a way to reign in the bonuses. Uhh, sure.
In the next breath, Obama says he ISN’T planning on taking AIG to court. Like with the stimulus package, he’s starting from a position of compromise.
Here’s more of why you shouldn’t be surprised Geithner let himself get punked.
California Democratic Rep. Brad Sherman told Bloomberg last week that AIG should be put into receivership.
(Further Goldman Sachs connection – AIG CEO Liddy was on Goldman Sachs’ board of directors when Henry Paulson was its CEO.
Now, Sherman tells Talking Points Memo Treasury ALREADY has the power to void the bonuses.
Sherman adds that this is why he voted against the original bailout: he didn’t think Treasury would use that power.
And, why does TPM disable user comments on this story? C’mon, Josh.
If you want to cut off the AIG gravy train, Jane Hamsher has a petition drive.
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