Chuck Todd is taking up for the White House in regard to the AIG thing.

Clio the Leo

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Tue Mar-17-09 05:13 PM
Original message

Chuck Todd is taking up for the White House in regard to the AIG thing.

Edited on Tue Mar-17-09 05:15 PM by Clio the Leo

(on 1600)

Saying that yes, maybe they first new about it last Tuesday, but there isn't a thing they can legally do now so there wasn't a thing they could have done then. Says that Geitner immediately did all he COULD do under the powers of his office.

He says that literally, the WH house is going to get back to "us" on it and seems to think that's a fair expectation. Says Treasury is inundated with all that's going on.

Coming from him, that's saying something. Chuck Todd is FAR from being a regular Obama defender.

I'll take it.

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louis-t

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Tue Mar-17-09 05:16 PM
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1. Oh, but Gergen was on saying Obama was "disingenuous"

because they knew "before" that the bonuses were getting paid. Says Obama was feigning outrage.

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ErinBerin84

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Tue Mar-17-09 05:18 PM
Response to Reply #1

3. I do think that some political theatre is involved

Edited on Tue Mar-17-09 05:19 PM by ErinBerin84

But at the same time, when I disagree with Gergen, I usually REALLY disagree with him. He was saying that Obama shouldn't let the Bush tax cuts expire last week. But there are different perspectives on this issue, so it's interesting to get the different takes. Not sure what I think yet.

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Gman

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Tue Mar-17-09 05:17 PM
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2. Todd knows that AIG is the lynch pin holding the economy together

and everything collapses if AIG defaults on its insurance coverage of the various credit default swaps and other derivatives.

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NRaleighLiberal

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Tue Mar-17-09 05:22 PM
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4. There was some pretty sharp discussion on AIG on PBS newshour -

saying that if Obama doesn't understand and appropriately act on the public outrage, he could get on the wrong side of this and actually get "out-populismed" (my term) by the Republicans...and this is coming from someone from a liberal think tank!

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alsame

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Tue Mar-17-09 05:40 PM
Response to Original message

5. A question - earlier, Todd was talking about the bonus structure

on Wall Street and how it differs from most industries, in which employees are paid a fixed salary or hourly wages.

But Wall Street typically uses a 'bonus' instead of a traditional salary...he said this was because it enabled people to take advantage of tax loopholes.

Could someone please explain this to me? Why would receiving income as a bonus rather than as salary allow someone to pay less tax? Isn't it all considered income? And wouldn't the tax rate be based on salary plus bonus?

Thanks in advance.

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