How Congress Protected AIG’s Bonuses

Didn’t Dodd specifically get really big campaign contributions from AIG? Might that be the reason for his concern and his changing the language?
God this administration is awful…

Way to go Chris…Polls in CT already show you getting your ass kicked…I’m sure this will help…LOL!

The questions need to be answered: What did the White House know, and when did they know it?
http://www.political-buzz.com/

Say goodnight, Chris Dodd.

A fair number of those Wall Street robber barons live in Connecticut.

How many of you know that the man in charge of monitoring the mortgage industry (D Barney Frank) received $400,000 in lobby funds from Fannie and Freddie (all while being involved romantically with a top exec at Fannie)
Or that (D)Chris Dodd and (D)Maxine Waters while sitting on the same senate committee also took 10 of thousands from lobbyists. That Obama’s CIA Chief (Penetta) has a daughter who works for a company whose main customer is the CIA.. or that Panetta himself received lobby money from this company before taking over as the CIA head..
this administration is a joke.. and we will ultimatley pay the price..

Lawrence J. Kramer:”We’ll call it a “tax,” though to pretend it’s not one of those nasty things the Constitution says we can’t do.”
A tax would be perfectly constitutional. There are always retroactive tax laws – the rules for taxes on the income you’re earning right now are not yet completely written.

DARRYL –”And he better be able to come up with some REAL GOOD COVER”– why would he need to do that? do you really think the “in the tank for Obama” media is going to make a big deal out of this?? this story will be buried within 2 days.. just like the “investigation” that Pelosci launched to “get to the bottom of the mortgage crisis.. and hold the responsible parties accountable”.. When she couldn’t hang it on a republican, the “investigation” died on the vine..

jhw539 -”A tax would be perfectly constitutional. There are always retroactive tax laws – the rules for taxes on the income you’re earning right now are not yet completely written.”– maybe so, but a “targeted” tax intended to strip private citizens out of legally earned money IS NOT constitutional.

arkie vet – while I tend to understand the anger and frustration by posters on this topic, and accusations flying left and right, please be advised that Leon Panetta does not have a daughter. Go to factcheck.org before you just post the rumors you hear. I also agree that if Chris Dodd is responsible for this AIG bonus debacle, he should go now, not at election time, but now!! This is just too much to take.

arkie vet:”maybe so, but a “targeted” tax intended to strip private citizens out of legally earned money IS NOT constitutional. ”
Not sure what interpretation you’re using to determine that. The Sixteenth amendment is pretty clear on this point.

If Dodd, gets re elected, then Acorn will have its hand in this mess. Acorn wants socialist dems in charge with the savior. Acorn will twist arms, with their leftist coalition, and even wants to go against moderate dems who question Obama’s trillions in spending. Acorn will play better dirty tricks with the elections and fund lefti$t dem$.

So, this is the “change” we hoped for? Seems like the same Dems being Dems with just bigger negative consequences for honest folks- or is that fools?

If this is indeed true, its shameful. This is what was posted on his website:
March 16, 2009
Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban affairs, released the following statement today in response to AIG’s decision to pay out $165 million dollars in bonuses for its executives.
“This is another outrageous example of executives – including those whose decisions were responsible for the problems that caused AIG’s collapse – enriching themselves at the expense of taxpayers. A car mechanic or teacher in Connecticut shouldn’t have to subsidize the bad decisions of these executives. Executives at other companies receiving TARP funds have voluntarily foregone bonuses – there’s no reason why those at AIG shouldn’t do the same.”

This administration is the biggest cluster f….. I have ever seen in my entire life. It makes the Bush Admin seem like the ‘good ole days’.

I hope the voters in CT remember Dodd’s deeds at reelection time. Where is that change that Obama promised- this is DC at its best and norm! If President Obama truly wants change he must stop this kind of nonsense – yes, really stop it not just say how bad it is and then do it anyway- oh… thats what he did on earmarks – against them but signs a bill with over 8,000 earmarks included anyway and then says the next one we will implement that rule!!! Its also so pathetic to watch all of Congress be so outraged by this and yet they do nothing… such a fake performance!! Just the usual DC dog and pony show- look and appear outraged, but keep on with business as usual.

Dodd id just taking his cue from his President:
First:
“…we cannot afford to govern out of anger, or yield to the politics of the moment…”
and, then:
“How do they justify this outrage to the taxpayers who are keeping the company afloat?…. [I have asked Sec. Geithner] to pursue every legal avenue to block these bonuses and make the American taxpayer whole.”
So what, exactly, would someone governing out of anger do? Send mobs out to throw bricks through the offenders’ windows?

Dodd was the largest recipient of AIG campaign contributions last year — over $100k.
Obama was the second largest recipient of AIG campaign contributions.
Pretty good return on your investment!

FALLOUT GROWS: Those who voted for the stimulus supported the clause to protect the AIG’s bonuses. Obama’s Own Stimulus Bill Protects the AIG Bonuses He Now Condemns —
http://www.butasforme.com/2009/03/17/obamas-stimulus-bill-explicitly-grants-aig-the-legal-right-to-hand-out-bonuses/
Looks like Obama sides with AIG, as well as Chris Dodd.

If what Chris Dodd did is as bad as some of you enjoy postulating… then the citizens of CT should take him to task. He does NOT represent the entire US — you have taken a civics class, heh?
He is also not a product of “this administration”.. He has been in office since Reagan’s time.
No, I am not blaming Reagan, that would be ridiculous… as ridiculous as blaming the current president for what Dodd may or may not have intended.
Sheesh…
Some of you actually drool over any tidbit you can toss out to place blame on Obama.
Take the log out, then go for the speck.

Ponder,
Your statement has already been soundly invalidated.
Both Schumer (R) and McCain(R) took more money from AIG than Obama did in the last election cycle.
You can’t just say it… facts have to be backed up!

Daddis,
Thank goodness you cleared that up for me. I feel much better knowing that AIG gave more $$$ to Schumer and McCain than Obama.
Have any of these Honorable Men given those contributions back? Given that those contributions were taxpayer dollars, they should simply refund the amounts to the U.S. Treasury.

here we go,,
Obama said he was going to change;;;
1st of all you have all the same players but a different president…
I will never vote for Dodd or Joe Liberman…

Before you neo-cons gripe about the 1. something trillion that Obama is spending on things mainly to help America get back on its feet..why don’t you take time to stop and gripe about the 9 trillion that Bush and the Republicans threw down the rathole with no accountability. Before your Criminal Party (GOP) points its finger it better look in the mirror at who the really big hypocrites and crooks are. The biggest crooks are the first to point the finger at someone else’s relatively small potatoes offenses if helping the American public is such an offense to you…and look at the money WASTED down the r@tholes of Iraq, Tax Cuts for the PIg-Rich, Katrina boondoggle, sweetheart contracts with Halliburton and oil companies….lets’ look at the whole picture here..don’t just try to hobby-horse Obama. That is DISHONEST.

This is an obvious attempt to deflect the anger of the People away from the administration and Washington Politicians and dump it on the Government Run AIG.
Gotta love their Obama’s of “Hold Me Accountable”…Unless he tells you it’s someone else’s fault….then his robots swarm the internet and Defend him…usually trying to Blame Bush for something….Kind of like the Republicans Blamed Clinton.
Silly really….It feels like Kindergarden…..

Pres. Obama can preach change all he wants, but he has to convince a Congress of 100+ members to also change their ways. and that is hard… He’s going to have to make a lot of concessions..
Now, Dodd is full of it. AIG is full of it. All the banks double dipping in the TARP and AIG collateral paybacks are full of it. Can they just not legislate in an honest manner.

JL,
People must distinguish between Conservatives and Republicans. Conservatives have no love for Bush and Company. Bush and the Republican Porkers in Congress have set the Country on a course towards economic ruin. Conservatives opposed all bailouts. Conservatives supported immediate tax cuts to put more money into peoples’ pockets to jump start the economy.
Unfortunately, this Administration believes that only the Government can spend money to jump start the economy. This Congress and this Administration has spent more since January than Bush spent in 8 years. For the amount of money that has been spent in the past couple of months, the Federal Government could have declared no taxes due for 2008. Does anyone dispute that relieving the entire country of its 2008 tax burden would have done more to stimulate our economy than the massive PORK-O-THON that was enacted??????

“Not sure what interpretation you’re using to determine that. The Sixteenth amendment is pretty clear on this point. ”
Article I, Section 9, Clause 3 of the U.S. Constitution (rf. the part dealing with “bills of attainder” and “expost facto laws”.) jhw539, here’s a link that explains it.
http://www.techlawjournal.com/glossary/legal/attainder.htm

Do not reelect Dodd.

Get a grip people. Fannie Mae and Freddie Mac both paid bonuses, some as high as $640,000.00 this year too.
Look how up in arms you all are over a few hundred million while this administration has been spending trillions of your dollars and billions of those trillions are EARMARK pork garbage but you’re not angry about any of that.
Congress caused this mess, not AIG. Look to your President and his involvement with ACORN and groups that put pressure on lending institutions to give loans to people who couldn’t afford them and a willing congress that passed laws covering those loans.
It’s all smoke and mirrors. If congress can get you focused in on anything BUT them they’ll do it and it’s working almost flawlessly!

Sorry Julie…CNN is now saying it was Obama’s Idea….
http://www.cnn.com/2009/POLITICS/03/18/aig.bonuses.congress/index.html
But that doesn’t mean anything to the Kool-Aid Drinkers…does it?

I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.
Miriam
http://www.craigslistposter.info

Thanks for the information. Any other posts or blogs you can recommend read?