"Bonus-gate" and Other Blunders

The nation's capitol has recently been caught up in controversy surrounding Treasury Secretary Tim Geithner and American International Group (AIG). In what many are calling "bonus-gate," it was revealed that after receiving an additional thirty billion dollars in government bail out funds, AIG awarded 169 million dollars in bonuses to their top executives. The public outrage over this caused the liberals in Congress to run for cover and sent the administration's spin machine into overdrive. And while the Democrat leadership in Congress, as well as President Obama's administration both feigned ignorance over how such a thing could happen, it was quickly revealed that not only did they know how it happened, they caused it to happen.

Ever since this new administration has taken power, the American people have been bombarded with the phrases "inherited", "transparency" and "accountability". But it's abundantly clear that the AIG bonus scandal was not inherited by this administration or by the Democrat-led Congress. This situation came into being on their watch, the authorization for the bonuses was made by them, and when the public found out about it, they attempted to cover it up or blame it on someone else. In short, they didn't inherit this problem - it happened because they were not acting transparently. And when they were caught, they tried everything in their power to avoid accountability.

Although many individuals have had a hand in the AIG controversy, it's clear that Secretary Geithner was a major lynchpin in the process. As Chairman of the Federal Reserve in New York, he presumably was heavily involved in crafting and designing the original bailout plans for AIG, including limits on executive compensation. As Treasury Secretary, he was one of the primary architects of the so-called stimulus package. And when Senator Christopher Dodd was caught red-handed inserting language into the stimulus legislation that explicitly authorized the payment of the AIG bonuses, he eventually admitted that it had been done at the request of Timothy Geithner's Treasury Department.

The AIG scandal is the last straw, in my opinion. That's why I have called for Secretary Geithner to do the right thing and resign. And if he doesn't resign, the President should fire him. While Geithner knew about the AIG bonuses for months, he only bothered to tell the President the day before they were issued. While his own personal tax troubles may not have been enough to keep him from being appointed, his apparent deception of the American people, as well as the President should absolutely cause him to be removed from the Treasury Department.

The great British statesman Winston Churchill was often exasperated with our people and with the United States. He used to like to say "You can count on the American people to do the right thing, after they have exhausted every other possibility." It's time for this administration to stop exhausting possibilities and simply do the right thing. Mr. Geithner must go.

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