The Corner

Geithner’s Evasive Answers

Treasury Secretary Tim Geithner originally said that he first learned about the AIG bonuses last week. Then he said that in fact, he had first learned about the size and scope of the problem until March 10, but was aware of the bonuses themselves earlier.

Here, as mentioned in the New York Times today, is a clip of Secretary Geithner being asked about this month’s AIG bonuses in a March 3 House committee hearing. The questioning includes mention of specific bonus amounts and timing — $163 million to be paid in “the coming weeks.”

The Treasury response is as follows:

A Treasury spokesman, Isaac Baker, said in a statement on Thursday night, “Although Congressman Crowley raised the issue of the bonuses two weeks ago, Secretary Geithner was not aware of the timing or full extent of the contractual retention payments or the other bonus programs until his staff brought them to his attention on March 10.”

Perhaps Geithner is hard of hearing. Or perhaps the administration’s timeline was just made up.


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