Misplaced Blame?

From Media Matters for America:

Where’s W? The disappearing of a president

Like last week, much of the coverage this week of the AIG executive bonuses was devoid of any mention of the Bush administration’s role in the controversy. A USA Today/Gallup poll question about who was to blame for the AIG bonuses conveniently left out the Bush administration as a possible response, despite the administration’s decision to give AIG billions in aid without requiring that the company withhold the bonuses. Similarly, a Wall Street Journal article about Geithner and his aides’ involvement in decisions about AIG’s bonus payments did not note that it was the Bush administration that negotiated a November 2008 stock purchase agreement with AIG through which the Bush Treasury Department injected $40 billion into the company without requiring that the bonus contracts be nullified.

Worse yet, the conservative Washington Times took things a step further, reporting GOP criticism of Democrats over the AIG bonus issue and quoting a Republican strategist asserting: “This is not something [Democrats] can point to George Bush. … They own the issue of giving bonuses to the AIG executives.” Glaringly absent was any mention that the $53 million in AIG bonuses that the article mentioned were reportedly paid out under the Bush administration or that a Bush-appointed special inspector general for TARP has stated that the Bush Treasury Department knew about the AIG bonus contracts and did not insist on their cancellation as a condition of AIG’s receiving bailout money.

One does sometimes get the feeling that Bush’s recession is going to unfairly become Obama’s recession rather too quickly.


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