Who knew what when...

...is still unclear and contradictory.
(Update became too long and windy so I overlap here)

<< Correcting an Impression (1): still confusion(2). My own missing (3) link.

Apparently $30 Billion latest AIG potential for drawdown has been caught in this confusion and is potential leverage. Who knew what when is still unclear and contradictory. >>

(1) "Congress last month passed a bill that President Obama signed into law, allowing AIG to keep its bonuses. For days, no one would say who was responsible for the loophole that let that happen.

The $787 billion stimulus bill included a measure from Dodd to limit executive bonuses strictly. But slipped inside at the last minute was an exemption for bonuses agreed to "on or before February 11, 2009." That allowed AIG to go ahead with its controversial bonuses."

(2) "Although Treasury Secretary Timothy Geithner told congressional leaders on Tuesday that he learned of AIG's impending $160 million bonus payments to members of its troubled financial-products unit on March 10, sources tell TIME that the New York Federal Reserve informed Treasury staff that the payments were imminent on Feb. 28."

(3)"The federal government agreed Sunday night to provide an additional $30 billion in taxpayer money to the American International Group and loosen the terms of its huge loan to the insurer, which is preparing to report a $62 billion loss on Monday, the biggest quarterly loss in history, people involved in the discussions said."

<> Date of sources: (1)today 3-19 (2) yesterday 3-18 (3)Sunday 3-1-09 <>

Imagine the scenario that the market actually had the information clear. The above confusion occurred likely due to the compartmentalization* of information and actions needed to be taken over a weekend. I am still uncertain about the spurious charges of "hush money" in regards to the "retention" bonuses but it is difficult to expect too much transparency** in such market sensitive negotiations or even authoritarian (or mob rule) expectations for responsibility.***

* and filtering through various departments, committees and branches of the process, including the media
**this does not excuse the outrage over bonuses but the speed that was needed and
is in contrast to previous manipulations or administrations and telegraphing our blows.
***(not to mention "...rotisserie of meaning and values and what is being skewered or brings stock aid to mind.": see P.S. verse us alternatives )
[Yes I played with verses as opposed to stocks versus stockade mentality]

[Footnoted Outrage: Between the lines: Embedded and bottom line.
A.I.G. Using "Suicide Strategy" to Push Bonuses by: Matt Renner, t r u t h o u t | Report
Venality Bites by: Brian E. Gray, t r u t h o u t | Perspective A synergy of strategy and legality and antagonistic con fluency of Authoritarian and Mob Rule.]