The Corner

Don’t Worry, the Obama Administration is on Top of AIG

Jake Tapper, who’s pretty much a one-man Robert Gibbs wrecking crew, put up this transcript from a White House press conference two weeks ago. That was when the last $30 billion infusion to AIG was announced, and AIG’s hundreds of millions in bonuses were already in the works:

TAPPER:  AIG, is the administration confident that it, that it knows what happened to the tens of billions of dollars previously given to AIG?

  

GIBBS:  Is it confident — I’m sorry?

TAPPER:  That they know — that you guys know what happened to the previous billions before you hand over this next $30 billion.

  

GIBBS:  Yes — yes, the — I mean, I don’t think it’s a — well, obviously, you’ve got a huge insurance company that is losing money, not the least of which because of its sheer size and sheer size and decrease in the growth in our economy.  It experiences a far bigger drop, largely because of its size. But, again, the steps that — that Treasury and — and others took were to ensure a larger systemic problem wasn’t one that we had to deal with here today in letting something just die.

  

TAPPER:  But in terms of specifically the — I guess it’s like $150 billion before, you guys are confident…

  

GIBBS:  Yes.

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