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Amid AIG Furor, Dodd Tries to Undo Bonus Protections He Put In
Fox Business ^ | 3-17-09 | Rich Edson

Posted on 03/17/2009 8:25:23 AM PDT by scooby321

While the Senate constructed the $787 billion stimulus last month, Dodd unexpectedly added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009,” which exempts the very AIG bonuses Dodd and others are seeking to tax. The amendment is in the final version and is law.

(Excerpt) Read more at foxbusiness.com ...


TOPICS: Breaking News; Business/Economy; Extended News; Front Page News; Government; News/Current Events; US: Connecticut
KEYWORDS: 111th; aig; animalfarm; bho44; bigfatliars; chrisdodd; congress; countrywide; cultureofcorruption; cyapolicy; democratcongress; democrats; democratscandals; dodd; economy; first100days; obamabreakspromises; obamaflipflops; obamalies; orwelliannightmare; porkulus; pravdamedia; senatordodd; smokeandmirrors; stalinisttactics; stimulus; worst100days
Also, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org.
1 posted on 03/17/2009 8:25:23 AM PDT by scooby321
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To: scooby321

String em all up. The AIG BOD and Dodd.


2 posted on 03/17/2009 8:26:55 AM PDT by Red in Blue PA (If guns cause crime, then all of mine are defective.)
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To: scooby321

http://www.politico.com/news/stories/0309/20095.html

Over and over at his Monday briefing, White House press secretary Robert Gibbs reminded reporters that it was the Bush administration that supported a bailout for American International Group without asking for limits on executive bonuses.

(snip)

http://www.whitehouse.gov/the_press_office/Briefing-by-White-House-Press-Secretary-Robert-Gibbs-3/2/09/

Q Two questions, one on AIG and one on CIA. AIG, is the administration confident that it knows what happened to the tens of billions of dollars previously given to AIG?

MR. GIBBS: Is it confident — I’m sorry?

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

MR. GIBBS: 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 the 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 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.

Q But in terms of specifically the — I guess it’s like $150 billion before. You guys are confident that you know —

MR. GIBBS: Yes.


3 posted on 03/17/2009 8:27:13 AM PDT by maggief
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To: scooby321

Senator Dodd is without honor.

He is a man of poor values - like his father.

Pity.


4 posted on 03/17/2009 8:27:26 AM PDT by RexBeach ("Do your duty in all things." Robert E. Lee)
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To: scooby321

Bookmark ping.


5 posted on 03/17/2009 8:28:28 AM PDT by Antoninus (So now "change" is defined as "more of the same, but worse"?)
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To: scooby321

I hope this gets play on Connecticut radio. Death by a thousand cuts for the corrupt Dodd come voting time in 2010...


6 posted on 03/17/2009 8:31:37 AM PDT by eureka! (Elections have consequences, boy howdy. *sigh*)
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To: RexBeach
Call the pathetic Republican “leader” McConnell's
office and tell him to stop letting the dem’s
get away with this stuff.
7 posted on 03/17/2009 8:31:58 AM PDT by Bainbridge
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To: Antoninus

Behind the scenes, Mr. Geithner was the point person for weeks of sleep-deprived Bailout Weekends. It was Mr. Geithner, not Mr. Paulson, for example, who put together the original rescue plan for the American International Group.


8 posted on 03/17/2009 8:32:11 AM PDT by scooby321
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To: scooby321

Dodd as well as Frank, Pelosi, Reid and others should be hung out to dry. They are worthless.


9 posted on 03/17/2009 8:32:47 AM PDT by freekitty (Give me back my conservative vote.)
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To: scooby321

Does this mean Grassley will call for Dodd to resign or commit suicide?!


10 posted on 03/17/2009 8:33:31 AM PDT by maggief
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To: scooby321

Who is John Galt.


11 posted on 03/17/2009 8:40:01 AM PDT by Loyal Buckeye
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To: scooby321

I’ve been staing this a few times today, but I think it is worth repeating again:

The Federal Government is the owner of AIG. As such, the new Board of Directors (the House and Senate Finance Committees and equivalants) as well as the new CEO (the president) and his deputies (the Chairman of the Federal Reserve & the Secretary of the Treasury) need to resign immediately or face charges for lack of due diligence in business oversight under Sarbannes / Oxley as well as RICO and other offenses.


12 posted on 03/17/2009 8:41:34 AM PDT by An.American.Expatriate (Here's my strategy on the War against Terrorism: We win, they lose. - with apologies to R.R.)
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To: scooby321
Dodd must be praying the MSM is successful in running interference while he covers his tracks.

They're really working up a sweat trying to whip up public outrage against AIG management & mentioning NOTHING about presidential & congressional culpability.

13 posted on 03/17/2009 8:43:24 AM PDT by skeeter
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To: scooby321

So clean, so transparent!


14 posted on 03/17/2009 8:46:11 AM PDT by AmericanVictory
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To: scooby321

Dodd strikes again. Hope Rush blasts him today.


15 posted on 03/17/2009 8:52:25 AM PDT by Darwin Fish (God invented evolution. Man invented religeon.)
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To: RexBeach
Senator Dodd is without honor. He is a man of poor values - like his father.

The acorn never falls far from the tree.

16 posted on 03/17/2009 8:53:11 AM PDT by mort56 (He who would sacrifice freedom for security deserves neither. - Ben Franklin)
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To: RexBeach
“Senator Dodd is without honor.
He is a man of poor values - like his father.”

Interesting how he and his ilk, Teddy Kennedy and others, grew up in families with zero values and then become Dems trying to save the world. Definitely a guilt complex reaction or attempt to make up for perceived inadequacies.

17 posted on 03/17/2009 8:53:12 AM PDT by Melinda
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To: eureka!
I hope this gets play on Connecticut radio. Death by a thousand cuts for the corrupt Dodd come voting time in 2010...

Connecticut? Those dumb jackasses will vote him in again. No faith in the East Coast.

18 posted on 03/17/2009 9:08:46 AM PDT by Logical me (Oh, well!!!)
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To: Red in Blue PA

Don’t let the press drag you around by the nose. Most (if not all) of the people getting the bonuses aren’t even Americans.


19 posted on 03/17/2009 9:10:30 AM PDT by Deb (Beat him, strip him and bring him to my tent!)
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To: Logical me

Re#18 Perchance to dream...


20 posted on 03/17/2009 9:18:12 AM PDT by eureka! (Elections have consequences, boy howdy. *sigh*)
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To: freekitty

Senate constructed the $787 billion stimulus ,Democrat translation pay backs.


21 posted on 03/17/2009 9:23:58 AM PDT by Vaduz
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"huge insurance company that is losing money
not the least of which because of its sheer size"

AIG, too big to succeed?

22 posted on 03/17/2009 9:31:33 AM PDT by Cyber Ninja (His legacy is a stain OnTheDress)
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To: Red in Blue PA

ping


23 posted on 03/17/2009 9:44:12 AM PDT by PMAS
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To: scooby321
I'm glad all this is coming out. It may be too late to have kept That One out of the White House, but it sure won't help him in 2012, and it REALLY won't help Democrats running for Congress in 2010.

EVERY Republican candidate needs to mention it in his or her campaign, because even if their particular opponents didn't support it, the Democrat party DID, and they created the mess that we ALL have to live in!!

24 posted on 03/17/2009 9:49:50 AM PDT by SuziQ
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To: freekitty
They are worthless.

You are being to kind.

25 posted on 03/17/2009 10:02:45 AM PDT by b4its2late (Ignorance allows liberalism to prosper.)
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To: scooby321

Dodd’s biggest fan in February were the big German banking firms, as his idiocy provided them with a huge new pool of financial experts to poach.


26 posted on 03/17/2009 10:15:10 AM PDT by Petronski (For the next few years, Gethsemane will not be marginal. We will know that garden. -- Cdl. Stafford)
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To: b4its2late

I would be banned if I used the words I wanted too. LOL


27 posted on 03/17/2009 10:16:05 AM PDT by freekitty (Give me back my conservative vote.)
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To: scooby321

Okay...here’s the clues....follow them closely....

...Chuck Schumer
....Chris Dodd
....Barney Frank....

.....President Obama.

When you got these guys all punching one punching bag...know now that it’s all an attempt to pee upon your feet and tell you it’s raining.

For this orchestrated upheaval over these bonuses at AIG are all planned and a perfect example of thou protesting too much.

For whatever reason, the Dems needed to get money to foreign banks as AIG has done under the radar whilst they carry on like hyeneas over stupid bonuses. They know about sound bytes like Chuck Grassly, a fine stooge if ever there was one and a pathetic example of the futility of our so-called “opposition” party.

they needed to get money to Goldman Sachs, also done by AIG, under the radar again.

No wait....the CEO didn’t want his reputation sullied so he had his stooge , Obama, exempt him in something before this unknown by a President of the US.

We are all the fools, my fellow fools, as they launch into this joke, pee on our feet, assure us it is only yellow rain, and that they will take of those nasty fellows at AIG on our behalf.

HEH.


28 posted on 03/17/2009 10:17:17 AM PDT by Fishtalk (The Messiah's Secret Plan to Stimulate Economy: Make Democrats Pay Their Taxes!)
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To: scooby321

I guess he was for the bonus before he was against it.


29 posted on 03/17/2009 10:18:52 AM PDT by b4its2late (Ignorance allows liberalism to prosper.)
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To: scooby321

More WashDC corruption from the party of Obama.


30 posted on 03/17/2009 10:25:39 AM PDT by Reagan Man ("In this present crisis, government is not the solution to our problem; government is the problem.")
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To: scooby321
I hope Dodd bites the dust in the next election. He is the biggest buffoon in Congress. And that is saying a lot.
31 posted on 03/17/2009 10:47:04 AM PDT by Uncle Hal
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To: scooby321
Behind the scenes, Mr. Geithner was the point person for weeks of sleep-deprived Bailout Weekends. It was Mr. Geithner, not Mr. Paulson, for example, who put together the original rescue plan for the American International Group.

I saw Cavuto bring this up with an Administration apologist, and he acted like Cavuto was speaking Mandarin. He stammered, looked confused and then just started speaking blahblahblah boilerplate again.

32 posted on 03/17/2009 10:54:00 AM PDT by dead (I've got my eye out for Mullah Omar.)
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To: scooby321

Dod is responsible for the Mortagage Collapse as much if not more than any other senator in Congress. He should be in JAIL.


33 posted on 03/17/2009 11:05:18 AM PDT by Danae (Amerikan Unity My Ass)
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To: maggief
Over and over at his Monday briefing, White House press secretary Robert Gibbs reminded reporters that it was the Bush administration that supported a bailout for American International Group without asking for limits on executive bonuses.

No mention of the fact they had a democrat legislature in control and didn't have to pass the bailout, regardless of which "administration" was in the WH. Bozo was also for the bailout if I recall correctly. These thugs are terrible.

I am glad the republican put the protection in the bailout, bonuses should be paid if they are a contractual obligation. The obvious solution if they didn't want executives to get bailouts with taxpayer dollars was to not give the dollars to them. Bankruptcy or make it on their own. Period.

We can lay all of this at the demwits feet but you have a**hats like Dodd trying to kiss tail with them and actually trying to do something illegal, like remove a provision from a bill that is already law without going through the legislative process and passing a new bill.

The republican so called leadership are nothing but a bunch of cowards.

34 posted on 03/17/2009 11:08:47 AM PDT by calex59
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To: Deb
Don’t let the press drag you around by the nose. Most (if not all) of the people getting the bonuses aren’t even Americans.

Has a list of names and nationalities of bonus recipients been published somewhere?

35 posted on 03/17/2009 11:50:23 AM PDT by tsmith130 (If I had wanted him to succeed, I would have voted for him. I didn't...so I don't.)
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To: tsmith130

There may be a list at the FOX Business site. Neil Cavuto was talking about them the other day.


36 posted on 03/17/2009 11:53:23 AM PDT by Deb (Beat him, strip him and bring him to my tent!)
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To: Deb
Then Cavuto needs to call Cuomo, because as far as I've read today...even Cuomo doesn't have a list of names, much less their nationality.

I think you're confusing bonus pay outs with AIG giving TARP money to overseas BANKS.

Personally, I think AIG should tell Cuomo to pound sand.

37 posted on 03/17/2009 12:02:50 PM PDT by tsmith130 (If I had wanted him to succeed, I would have voted for him. I didn't...so I don't.)
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To: tsmith130
Also on CNN, they ambushed a manager coming out of the AIG building and he agreed to talk to them. He was pissed. He wasn't one of the bonus guys, but was disgusted at Obama for demonizing them.

He said the bonuses were from last years profits and most of the execs had already left the company and they had contracts and they were Brits, like him.

Plus the guy running AIG was the guy Spitzer had put in place after he harassed the original founder (Hank Greenburg) out of the company with phony indictments and legal pressure. I think that after Greenburg fought the charges they were all dismissed, I know Spitzer came out it embarrassed.

38 posted on 03/17/2009 12:14:27 PM PDT by Deb (Beat him, strip him and bring him to my tent!)
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To: Loyal Buckeye

“I swear, by my life
and my love of it,
that I will never live
for the sake of another
man, nor ask another
man to live for mine.”


39 posted on 03/17/2009 12:23:38 PM PDT by divine_moment_of_facts
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To: scooby321

Corrupt Dem, CD, Chris Dodd is implementing a CYA Policy (Cover Your A**)


40 posted on 03/17/2009 12:44:35 PM PDT by a fool in paradise ("I certainly hope he (Bush) doesnÂ’t succeed" - Democratic strategist James Carville 9-11-2001)
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To: scooby321
Separately, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org.

We already knew this and he continues to slide by. FUCD!
41 posted on 03/17/2009 12:46:33 PM PDT by divine_moment_of_facts
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To: scooby321

Hey, he’s a liberal, no surprise.


42 posted on 03/17/2009 1:30:50 PM PDT by 1035rep ("The problem with socialism is that you eventually run out of other people's money.")
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To: Deb
Also on CNN, they ambushed a manager coming out of the AIG building and he agreed to talk to them. He was pissed. He wasn't one of the bonus guys, but was disgusted at Obama for demonizing them.

And CNN ran it!? I'm shocked!

Plus the guy running AIG was the guy Spitzer had put in place after he harassed the original founder (Hank Greenburg) out of the company with phony indictments and legal pressure. I think that after Greenburg fought the charges they were all dismissed, I know Spitzer came out it embarrassed.

From what I hear (my husband has a very good friend that works for AIG), none of this would be as bad as it is if Greenburg were still running the company.

43 posted on 03/17/2009 1:41:05 PM PDT by tsmith130 (If I had wanted him to succeed, I would have voted for him. I didn't...so I don't.)
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To: scooby321; All

Ya know, AIG may be the Pandora’s Box that dooms the dems...they may regret publicly denouncing them. There are a LOT of connections to what went on with AIG and the bailout money, Congress,, the WH, F&F (especially F&F!).

This could be the key. Unravel this and the dems’ entire narrative may fall apart.


44 posted on 03/17/2009 2:19:15 PM PDT by Canedawg (Congress shall make no law abridging the freedom of speech, or of the press.)
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To: Canedawg

PETER SCHIFF CONNECTICUT 2010!!!


45 posted on 03/17/2009 11:56:01 PM PDT by ground_fog
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