Posted on 01/07/2010 9:12:24 AM PST by UAConservative
No way!
He’s going to cash in his markers.
Rush talked about this ‘rumor’ today.
He’s a cinch for senate confirmation...
Unbelievable. A cinch for confirmation?!
HE BELONGS IN JAIL!
He sure would be. It wouldn’t make
sense for a Dirty Rat like him to
walk away empty handed, much as
he was waxing so poetically yesterday
about his personal family recent
grief and his own illness, blah, blah,
blah.
He held out for a big prize .. I won’t
be shocked at all if this happens.
Where does Geithner, whose father knew
Stanley Ann Dunham Obama Soetero in the
world of Asian microfinance, go ??
Boy .. talk about the gang who couldn’t
shoot straight !
re Dodd, between his corruption with Country Wide, the deal with his home in Ireland, and the list goes on, this would be a non starter especially if Rep. Issa gets to grill
Dodd in confirmation hearings.
San Diego Rep. Issa has been on Dodd right along big time
exposing his dirt.
All the more reason the information re Dodd blocking funding of airport security and receiving contribution for his campaign funds (which now belongs to him).
OMG...what a dreadful thought.
http://www.freerepublic.com/focus/news/2213090/posts
Dodd’s Wife a Former Director of Bermuda-Based IPC Holdings, an AIG Controlled Company
Real Clear Politics ^ | March 23, 2009 | Kevin Rennie
No wonder Senator Christopher Dodd (D-Conn) went wobbly last week when asked about his February amendment ratifying hundreds of millions of dollars in bonuses to executives at insurance giant AIG. Dodd has been one of the company’s favorite recipients of campaign contributions. But it turns out that Senator Dodd’s wife has also benefited from past connections to AIG as well.
From 2001-2004, Jackie Clegg Dodd served as an “outside” director of IPC Holdings, Ltd., a Bermuda-based company controlled by AIG. IPC, which provides property casualty catastrophe insurance coverage, was formed in 1993 and currently has a market cap of $1.4 billion and trades on the NASDAQ under the ticker symbol IPCR. In 2001, in addition to a public offering of 15 million shares of stock that raised $380 million, IPC raised more than $109 million through a simultaneous private placement sale of 5.6 million shares of stock to AIG - giving AIG a 20% stake in IPC. (AIG sold its 13.397 million shares in IPC in August, 2006.)
Clegg was compensated for her duties to the company, which was managed by a subsidiary of AIG. In 2003, according to a proxy statement, Clegg received $12,000 per year and an additional $1,000 for each Directors’ and committee meeting she attended. Clegg served on the Audit and Investment committees during her final year on the board.
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Congress members’ spouses earn big - State’s lawmakers disclose earnings
Connecticut Post (Bridgeport, CT) - Sunday, June 15, 2003
Author: PETER URBAN
WASHINGTON - As they toil away under the Capitol dome, Connecticut lawmakers have relied on their spouses in varying measures to bring home the bacon.
Rep. Christopher Shays’ wife works for the Peace Corps.
Rep. Rosa DeLauro’s husband is an internationally known pollster.
Sen. Christopher J. Dodd’s wife has her own consulting business.
Sen. Joseph I. Lieberman’s wife has been on the speech circuit for the last two years.
(snip)
Sen. Christopher Dodd As a bachelor in 1992, Dodd reported less than $30,000 in assets in two bank accounts. And he earned $400 for a cameo appearance in the movie, “Dave.” Dodd donated his fee to charity.
Now married, Dodd has a cottage in Ireland worth between $100,000 and $250,000, and a Senate credit union account worth between $15,000 and $50,000. Dodd owes between $115,000 and $300,000 on mortgages on the Irish cottage.
His wife, Jackie Clegg , operates her own consulting firm and serves as a director of a Bermuda-based reinsurance company, IPC Holdings , Ltd.
Clegg owns property in Utah and a condominium in Washington, D.C., that together are valued between $30,000 and $100,000. She also has a Senate credit union account worth between $50,000 and $100,000.
“She’s got her own career here,” said Ryan McGinn, a spokeswoman for Dodd.
A Utah native, Clegg came to the nation’s capital fresh out of college to work for former Sen. Jacob Garn, R-Utah, and then as a staff member for the Senate Committee on Banking. After a decade working on Capitol Hill, Clegg was appointed to the Export-Import Bank in 1993.
President Clinton appointed her first vice president and vice chairman of the Export-Import Bank in 1997, where she served until his term expired. Clegg opened her own consulting firm after leaving the bank. She was also asked to become a director of IPC Holdings .
Dodd, a member of the Senate Committee on Banking, spearheaded legislation that offers insurance companies some protection from massive losses due to terrorist attacks. McGinn said Dodd’s work on that legislation was largely at the behest of Hartford-based insurance companies and had absolutely no connection with Clegg .
(snip)
...
Tax stances of senators don’t match wives’ deals
Norwich Bulletin (CT) - Monday, September 6, 2004
Author: Norwich Bulletin, Katherine Hutt Scott, Staff
By KATHERINE HUTT SCOTT
Norwich Bulletin
WASHINGTON - Connecticut’s Democratic senators, Joe Lieberman and Christopher Dodd, want to eliminate a legal loophole that allows U.S. companies to reincorporate overseas - often in Bermuda - to avoid taxes.
But the senators’ wives have had financial or business interests that aren’t completely compatible with the goal of ending corporate tax evasion.
Lieberman’s wife, Hadassah, owns stock valued at between $1,001 and $15,000 in Tyco International Ltd., according to the senator’s 2003 personal financial disclosure form filed with the Senate. Tyco, formerly based in New Hampshire, reincorporated in Bermuda in 1997 to legally reduce its U.S. tax burden.
Dodd’s wife, Jackie Clegg , served on the board of Bermuda-based IPC Holdings Ltd., a reinsurance company, according to Dodd’s 2003 disclosure form. The company’s offshore location allows another U.S. firm that is a major shareholder in IPC Holdings to avoid paying some taxes to the federal government.
The senators say there is no inconsistency between their public positions and their wives’ financial or business dealings.
(snip)
Dodd voted in favor of the bill to stop U.S. companies from reincorporating overseas to avoid taxes both times the measure has come to a vote in the Senate, spokesman Marvin Fast said.
“The fact that Senator Dodd has consistently and repeatedly fought legislatively to enact the tax reform measure should highlight in no uncertain terms his independence on this issue,” Fast said.
Passage of the legislation would not change the law that allows American International Group Inc. - the firm with a stake in IPC Holdings - to avoid paying some taxes. But Fast said Dodd would be “willing to review” any proposals to change that law. There has been no push in Congress for a change.
Larry Noble, executive director of the watchdog group Center for Responsive Politics, said Hadassah Lieberman’s investment in Tyco and Clegg ‘s former seat on the board of IPC Holdings “reflect low levels of hypocrisy” because their husbands support closing the reincorporation tax loophole.
“The next step is to put their money where their beliefs are,” Noble said. “Which is to say that you don’t invest in companies or be involved with companies that are acting contrary to our national interest.”
Noble added, “The bills still have to be paid, so the tax burden is then shifted to the average citizen who can’t take advantage of these tax loopholes.”
Spokespeople for Sens. Lieberman and Dodd said the senators’ wives would not comment.
Twenty-four U.S. companies have relocated to the Caribbean tax havens of Bermuda, the Cayman Islands, Panama and Antigua, according to a list compiled by Rep. Richard Neal, D-Mass. Most went overseas between 1997 and 2002, as companies came under increasing pressure to report profits, said Peg McGlinch, Neal’s legislative director.
Bermuda, the most popular offshore location, has no corporate income tax. The U.S. corporate income tax rate is 35 percent.
Dodd and Lieberman were early co-sponsors of legislation introduced by Sen. Charles Grassley, R-Iowa, that would change the tax code to require U.S. companies that reincorporate overseas in the future to pay taxes. The bill also would limit the ability of Tyco and other companies that have already moved offshore to reap tax benefits. That legislation is part of a major tax bill under consideration by Congress.
(snip)
Dodd’s wife served as a director of IPC Holdings from July 2001 until this past March, according to documents the company filed with the Securities and Exchange Commission.
The company was created with capital raised by AIG, an insurance company, and other investors in 1993, after Hurricane Andrew decimated the reinsurance industry, IPC Holdings President Jim Bryce said.
Bermuda was an attractive location as a major insurance market. It also offered a tax advantage for AIG
That’s because AIG owns only 24.3 percent of IPC Holdings . By law, U.S. investors or companies that own less than 25 percent of a foreign insurance company don’t have to pay taxes on their share of the foreign company’s income, said Philip West, an international tax lawyer in Washington.
In 2003, IPC Holdings reported a profit of $260.6 million, according to filings with the Securities Exchange Commission.
(snip)
http://www.freerepublic.com/focus/news/2192765/posts
(Duplicate thread:)
http://www.freerepublic.com/focus/f-news/2192766/posts
How politics works: Senator Christopher Dodd and his cosy Irish cottage
Telegraph.uk ^ | February 24, 2009 | Toby Harnden
An intriguing item here from the dogged Kevin Rennie of the Hartford Courant that highlights a classic example of why ordinary citizens become cynical about politicians and the way business in Washington is conducted.
Silver-haired Senator Christopher Dodd, chairman of the Senate Banking Committee, has already been getting a lot of heat for his two 2003 VIP mortgage loans from Countrywide, one of the major actors in triggering the current financial crisis.
(See links for background research)
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