ABOUT ME

 

Nick Ragone is an author, attorney and public relations executive in New York City. He earned a bachelor’s degree in history and political science from Rutgers University, and is a graduate of the Eagleton Institute of Political Science at Rutgers University (undergraduate) and the Georgetown University Law Center.

He is the author of three books: Essential American Government, Everything American Government, and President's Most Wanted. Nick is a regular contributor to the Fox News Channel and Fox Business, the PIX11 Morning Show, and has a weekly appearance on the popular Raph Bailey Radio Show.  He co-anchored PIX11's five-hour live inauguration coverage with Jim Watkins and Kaity Tong.

Nick is a contributor to Donklephant.com, one of the most influential political blogs on the web, and  has written for US News & World Report, The Star-Ledger, Real Simple Magazine and RealSimple.com.  Nick has been quoted in over two dozen stories on politics, the presidency, and public relations.  In December of 2007, Nick was named one of PR Week's 40 under 40 to watch, and in May of 2008 was featured in "Profiles of Success", a book about public relations. Nick lives in Jersey City, NJ, with his wife and two children, and spends what little free time he has obsessing on the Mets.

Nick can also be found on Facebook. http://www.facebook.com/profile.php?id=740817853


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« Cramer back on the Today Show | Main | It's 7:25 am and I just ruined your day »
Wednesday
Mar182009

AIG bonus brouhaha could be Geithner's undoing

Let's get right to the crux of the AIG bonus flap.

Yes, the world's largest insurance firm started unraveling last October.  And yes, the bailout of AIG has been mostly bipartisan.

But $165 million in bonus payments last week was preventable.  By Tim Geitner.  Both he and the president knew that AIG was planning to award outrageous bonuses to the very people who caused the problem in the first place, and they didn't do anything about it. 

The government owns 80% of the company ... they could have done pretty much anything, from witholding further bailout dough to firing the CEO.   But they did nothing, and therein lies the outrage.   So now they're scrambling to figure out how to get the money back when they could have blocked it in the first place.

Even Democrats on the hill are outraged by Geithner's folly, and it could end up costing his job.

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Reader Comments (3)

dont worry, obama will clean up this mess

March 18, 2009 | Unregistered Commentermitch

obama hit a land mine with this one ... the phrase "what did he know and when did he know it" is about to rear its ugly head

March 18, 2009 | Registered CommenterNick Ragone

presidential historians, including the amazing one that writes this blog, are already crafting pieces on how Obama will be a top 5 president of all time.

March 18, 2009 | Unregistered Commentermitch

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