Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Obama's Stimulus Bill Explicitly Grants AIG the Legal Right to Give Unlimited Bonuses
ButAsForMe.com ^ | 03/17/09 | ButAsForMe

Posted on 03/17/2009 10:44:34 AM PDT by wrrock

http://www.butasforme.com/2009/03/17/obamas-stimulus-bill-explicitly-grants-aig-the-legal-right-to-hand-out-bonuses/

From page H1412 of the Final Stimulus Bill, ``SEC. 111. EXECUTIVE COMPENSATION AND CORPORATE GOVERNANCE:

"(iii) The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a writte employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary."

This amendment provides an exception for contractually obligated bonuses agreed on before Feb. 11, 2009, which exempts the very AIG bonuses Obama is condemning every single chance he gets. The amendment is in the final version and is law.

Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org — According to the Wall Street Journal, Sen. Dodd placed this section into the final stimulus bill, making him responsible, along with Obama, for AIG receiving these bonuses.

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


TOPICS: Breaking News; Business/Economy; Crime/Corruption; Front Page News; Government; News/Current Events
KEYWORDS: aig; animalfarm; bho44; bonuses; cultureofcorruption; democrats; democratscandals; dodd; first100days; obama; obamabreakspromises; obamaflipflops; obamalies; orwelliannightmare; porkulus; pravdamedia; smokeandmirrors; stalinisttactics; stimulus; worst100days
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-80 ... 101-112 next last
To: wrrock

That’s what happens when you pass legislation that nobody bothers to read until after the fact (if then).


41 posted on 03/17/2009 11:07:33 AM PDT by AustinBill (consequence is what makes our choices real)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kansas58

The melt down and the sub-prime was a result of Carter, Clinton. Lesser Bush, Todd, Kennedy, Frank and all of those told the banks to issue loans to those who couldn’t afford them.


42 posted on 03/17/2009 11:08:06 AM PDT by noname07718 (Freedom is never more than one generation from extinction-Ronald Reagan 1993)
[ Post Reply | Private Reply | To 37 | View Replies]

To: Kansas58

Bronxboy sounds more like a PAULISTINIAN or a LIBERAL than a “”populist””

I’ve sent you a freepmail
thanks


43 posted on 03/17/2009 11:08:10 AM PDT by gwilhelm56 (My 2nd amendment protects my 1st amendment... I carry a GUN because I can't Carry a SOLDIER!)
[ Post Reply | Private Reply | To 13 | View Replies]

To: Tucsonican
The issue with executive bonuses is a smoke screen.

One thing the Democrats are being quite successful is blaming Wall Street for Democrat caused problems. Makes one wonder what they are up to while everyone is distracted about a few bonuses

44 posted on 03/17/2009 11:08:46 AM PDT by CharacterCounts (November 4, 2008 - the day America drank the Kool-Aid)
[ Post Reply | Private Reply | To 35 | View Replies]

To: wrrock

The dufus never read his stupid stimulus bill!


45 posted on 03/17/2009 11:09:25 AM PDT by AngelesCrestHighway
[ Post Reply | Private Reply | To 1 | View Replies]

To: wrrock

It’s like the Keystone cops on meth!


46 posted on 03/17/2009 11:10:09 AM PDT by AngelesCrestHighway
[ Post Reply | Private Reply | To 1 | View Replies]

To: noname07718

Actually, George W. Bush tried to reign in Fannie and Freddie.


47 posted on 03/17/2009 11:10:54 AM PDT by Kansas58
[ Post Reply | Private Reply | To 42 | View Replies]

To: wrrock

OOPS!


48 posted on 03/17/2009 11:11:14 AM PDT by sailor4321
[ Post Reply | Private Reply | To 1 | View Replies]

To: wrrock

I guess he should have had someone READ the bill before he signed it. Suckered. Rove’s invisible hand?


49 posted on 03/17/2009 11:12:18 AM PDT by listenhillary (Rahm Emmanuel slip - A crisis is a terrible thing to waste.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: wrrock

that’s what you get when you don’t read your own bills! hehe


50 posted on 03/17/2009 11:12:50 AM PDT by ari-freedom (Hail to the Dork!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: wrrock

Read a post earlier that Dodd is trying to re-write this part, but is not being given cooperation.


51 posted on 03/17/2009 11:13:00 AM PDT by theDentist (Qwerty ergo typo : I type, therefore I misspelll)
[ Post Reply | Private Reply | To 1 | View Replies]

To: wrrock

You can’t blame poor wittle barry. He didn’t write the bill or read it.


52 posted on 03/17/2009 11:14:35 AM PDT by mojitojoe ( Idiots elected a Marxist ideologue with narcissistic personality disorder & America is dying.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Unlikely Hero
Sorta like when Opossum signed funding for ESTR and then outlawed it again in the stop-gap budget bill.

No one is reading the legislation, they are just ^literally^ throwing money at problems.

53 posted on 03/17/2009 11:15:07 AM PDT by Cletus.D.Yokel (FreepMail me if you want on the Bourbon ping list!)
[ Post Reply | Private Reply | To 39 | View Replies]

To: wrrock

Osamabama’s public chastizement of the AIG execs is just commie pablum for the masses, they will believe anything the Dalai-Bama says


54 posted on 03/17/2009 11:16:26 AM PDT by KTM rider (the War On Terror has been superceeded by the War On Capitalism)
[ Post Reply | Private Reply | To 1 | View Replies]

To: gwilhelm56

Bronxboy sounds more like a PAULISTINIAN or a LIBERAL than a “”populist”
______________
He is. He used to be on the birth certificate threads defending zer0 all the time. His wife does the same. Both zer0 fans.


55 posted on 03/17/2009 11:17:16 AM PDT by mojitojoe ( Idiots elected a Marxist ideologue with narcissistic personality disorder & America is dying.)
[ Post Reply | Private Reply | To 43 | View Replies]

To: gwilhelm56

well a populist takes positions that appeal to the “I’m mad as hell and I’m not going to take it anymore” crowd.


56 posted on 03/17/2009 11:17:25 AM PDT by ari-freedom (Hail to the Dork!)
[ Post Reply | Private Reply | To 43 | View Replies]

To: wastedyears
Barack Obama has finally determined what the meaning of the word “IS” is....

Incompetent Socialist

57 posted on 03/17/2009 11:17:41 AM PDT by motoman
[ Post Reply | Private Reply | To 2 | View Replies]

To: Cletus.D.Yokel

LOL, yeah, it reminds me of one of those bank robbery car chases where the robber is throwing money out the window as 10 cop cars are chasing


58 posted on 03/17/2009 11:19:23 AM PDT by KTM rider (the War On Terror has been superceeded by the War On Capitalism)
[ Post Reply | Private Reply | To 53 | View Replies]

To: Tucsonican
You and I didn’t hire AIG of Citi or anyone else to watch out for where and how our tax dollars got distributed; we hired congress to do that job and THEY screwed up.

EXCELLENT point! Thank you.

59 posted on 03/17/2009 11:20:40 AM PDT by WayneS (Respect the 2nd Amendment; Repeal the 16th)
[ Post Reply | Private Reply | To 35 | View Replies]

To: noname07718

I did.


60 posted on 03/17/2009 11:22:13 AM PDT by WayneS (Respect the 2nd Amendment; Repeal the 16th)
[ Post Reply | Private Reply | To 38 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-80 ... 101-112 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson