Chris Dodd: For AIG bonuses before he was against them
Kabuki Theater of Outrage, Act III. Unscrupulous borrower Sen. Chris Dodd struts on stage. Fox Business reporter Rich Edson turns on the spotlight:
Senator Chris Dodd (D-Conn.) on Monday night floated the idea of taxing American International Group (AIG: 0.9768, 0.1967, 25.21%) bonus recipients so the government could recoup the $450 million the company is paying to employees in its financial products unit. Within hours, the idea spread to both houses of Congress, with lawmakers proposing an AIG bonus tax.
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.
Also, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org.
Need to make my airsickness bag triple-strength this morning.
Update: David Freddoso has more…
Here is the loophole, from the section of the stimulus package that deals with compensation rules for TARP recipients:
The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written 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.
Frankly, it’s hard to imagine how the government could prevent such contracts from being honored. But the presence of this loophole, in black and white, certainly gives the lie to all of this phony outrage — by the senator who created the loophole, by the president who signed it into law, and by everyone else who voted for the stimulus package.
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Trackbacks
- Dodd Allowed AIG To Thrive in His State, Approved Bonuses: Now Throws Them Under The Bus « Peace and Freedom Global Future
- The President’s St. Patty’s Day parties at the White House « Jim Blazsik
- Senate Passed Dodd-Sponsored Amendment that Allows AIG Bonuses | The American Pundit
- Bloodthirsty Liberal » My Outrage Can Lick Your Outrage [UPDATED]
- News & Commentary » Chris Dodd, now trying to undo what HE also undid
- AIG: Who let the dogs out? Chris Dodd that’s who… « Moderate in the Middle
- Good Richard's Almanac
- Michelle Malkin: Career Criminal Politician Chris Dodd: For AIG bonuses before he was against them | USA House Senate Resign or Commit Suicide.com Blogs
- Must-read of the day « Sister Toldjah
- AIG Bonus Flap: Lawsuit to Get Back $165 M Could Cost $300 M or More « Peace and Freedom Global Future
- AIG: Demons or Fall Guys with Those Exec Bonuses? « Frugal Café Blog Zone
- Gazzer’s Gabfest » Blog Archive » Chris Dodd outraged at…Chris Dodd
- Chris Dodd - who was the largest recipient of campaign donations during the 2008 election from AIG, now trying to undo the bonus protections HE put into the simulus bill! | Fire Andrea Mitchell!
- Congressional Hypocrisy in our Faces . . . Again | EVERY THOUGHT CAPTIVE
- The Hits Keep Coming: Chris Dodd Was For AIG Bonuses Before We Was Against Them | Jeffrey A. Setaro
- UrbanGrounds » Blog Archive » Obama, Geithner, and Dodd: The Three-Headed Circus
- To Help The Liberal Mind, The AIG Bonuses In Perspective | Democrat = Socialist
- A trip down Fannie Mae Lane with Franklin Raines and Chris Dodd « Danishova
- The Irascible Chef » Chris Dodd—Slam Dunk!
- Are You Kidding Me? Geithner Didn’t Know About AIG Bonuses « Mcnorman’s Weblog
- Are You Kidding Me? Geithner Didn’t Know About AIG Bonuses « Mcnorman’s Weblog
- Millions in AIG bonuses ignite bipartisan fire - Page 2 - High Def Forum - Your High Definition Community & High Definition Resource
- The Hypocrisy of Andrew “Give back those A.I.G. bonuses!” Cuomo « Danishova
- Chris Dodd - who was the largest recipient of campaign donations « Not1b4me’s Blog
- Stuck On Stupid
- Democrats put language in the ‘Stimulus Bill’ to protect AIG executive bonuses. Dodd and Obama were the number one recipients of money from AIG. Distraction in full swing & Congress’ plan to tax the bonuses at 100% wont pass constitu
- MishMashZone » How Secret Were AIG Bonuses
- The stunning hypocrisy of Andrew “Give back those A.I.G. bonuses!” Cuomo « Danishova
- Power Outrage | America Needs Me
- Just One Example of Bailout Fiasco | EyeHackerBlog.com
- Random-American » AIG execs receive bonuses after receiving bailout funds
- “All Choked Up”- Barack Obama received more money ($101,332) from AIG in 2008 than anyone but Chris Dodd…
- Bolo Boffin
- Criminal Governmental Elements at Standing Cheese
- AIG Bonuses: Paulson, Geithner and the Money Laundering Smoke Screen | The Great Illuminator
- Bailout hypocrisy inside the Beltway « Right Minded Online
- A Small Corner of Sanity - An Online Oasis for Conservative Thought
- Lend me your earmarks
- AIg and the band played on. - Marijuana Growing
- AIG Regrets Buying a Senator and a President « The Cake Party
- Michelle Malkin » Chris Dodd confesses: Yes, I slipped in the AIG bonus protection
- The Irascible Chef » Is anyone watching the road?
- AIG And How To Create Laws Against People Groups |
- Photomaniacal » Blog Archive » The Kabuki Theater of AIG Outrage
- In Contempt » Archive » Feel the Outrage
- Obama’s Marxist Magic Mess–Big Bad Bonuses–Radical Socialist Sleight of Hand « Pronk Palisades
- Dodd Falls on Sword for His Chieftains | The Great Illuminator
- Unintended Consequences - UPDATED « Designated Conservative
- AIG-OBAMA: Laundering Our Money? « FactReal
- Andrew Cuomo: Extortionist? « Danishova
- La Transición de Obama: economía. El Plan de Rescate de Bancos de Geithner « Sarah Palin en Español
- Marvin Kalb and Christopher Dodd: A Colloquy on Waitress Sandwiches « Gerbil News Network
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Categories: AIG, Chris Dodd
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I’m convinced… if you were to cut open our Congress critters brains they would be filled with Gelatin.
Cess Dodd at work.
These guys are seriously out of control.
D’OH
Morons, time for these tea parties to come together and march on D.C.
I’m willing to give it a try!
buckwheats
http://www.urbandictionary.com/define.php?term=buckwheats
WHY do Democrats continue re-electing complete corrupt idiots like Dodd, Frank, Reid and Pelosi? Could it be that Democrats, by their very nature, are idiots? Seems so. Dodd should be in jail, not in congress. His cellmate (who would likely enjoy the experience) should be Barney (Drool) Frank.
if we can’t get them to cough up OUR money by trashing them on t.v. for days, we’ll tax them to get OUR money back. we have great things to do with that money, like paying for our lifestyles of the rich and famous and paying our pensions for our years of selfless service.
Dodd looks like a pissed-off Muppet. Unfortunately he thinks like one too.
If I were an AIG exec. I would take the bonus and retire overseas.
F’ them in congress if they can’t take a joke.
I was thinking more along the lines of a Munchkin. “But, is the economy really, really, really dead?”
Just posted at Ace’s:
Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org.
What a pathetic crapweasel.
Son,
agree!
ooh ooh take the $ and run and many banker types are doing just that.
They are not alone has been discussed re: the “going galt” chatter.
As ever congress critters get loudest when they are at the heart of a blunder. Will AIG have the guts to show up at one of the coming dog-n-pony shows and say excuse me but this is what you told us to do? …….
Let’s not spare the Republicans on this either. They threw out conservative principles to reach across the aisle to these scumbags now sink with them.
It’s great being an independent conservative!
FYI: if only fleeting solace.
Recent trip to CT longtime Dodd tolerators and some real live actual supporters ( not to worry not close friends ) have finally had their fill
would not be surprised if he is gone come next election.
bansharia: If this congress asked me to testify before them I would be on the first plane to a non-extridition treaty country because they want to GET you, not find out the truth. Either that or use the 5th amendment for everything including my name.
I suppose Dufus Dodd will feign outrage like Pelosi did when her demands for planes came to light…riighhttt – not these self sacrificing public servants! No, not them!!!
What a zit.
Dodd, who needs actors when you have senators. Another unfortunate waste of human skin. We could be using him for burn victims or luggage.
Bradley – I’m thinking that is a very distinct possibility. All evidence does seem to point in that direction. It could also be their mental development just never advances past middle school level.
Son,
I hear that this AIG thing has taken on creepy tone, we need a witch trial graphic for stories about!
lawdyyyy
Learn to love it.
I’m no lawyer. Don’t play one on TV. But that alone reeks of being unconstitutional based on the 14th Amendment’s equal protection.
Of course, the entire bailout situation is also unconstitutional, but one battle at a time. Dodd is a moron.
Son well done
^10
ACH I have Judge Judy law degree it ain’t legal which is why this is all so absurd and creepy that THEY even pretend it is and are willing to inflame the unwashed masses that it is.
Please Larry Kudlow, put CT out of its misery!
This fool is up for re-election in 2010. Apparently, according to several articles he is going to have a tough time. Not sure if I believe that.
However, there is a possibility that Peter Schiff may be running for senate. Not sure who he is? Then go here:
http://www.schiff2010.com/
You may have read some of his books:
Crash Proof and the Little Blue Book of Bull Moves in Bear Markets
I’ll take anybody but Dudd.
Suggestion as we have seen this game many times:
Keep eye on what obambi is really doing while all eyes are distracted with the AIG red herring:
such as screwing troops medical benefits
and barring DOD from selling once used ammo.
That was my first thought, too.
There’s a market for used ammo?
Blame see my previous post re Ct voters.
CtMom are you getting same sense from previous dudd tolerators/supporters?
thats so unfair to muppets every where
B-cat huge the DOD sells it and reloaders pack it now DOD must scrap it.
Not sure if I can post this link or not but I shall try:
http://www.theshootist.net/2009/03/dod-ends-sale-of-expended-military.html
And many of them. Need one for each TV and one for the car and one for the office and…
Dodd and Barney wrote the law that allows the bonuses…
PUKES-
We
just mightDO have the most ignorant people in the entire country running Wash DC and writing our laws.My God we’re in deep doo doo.
When Dodd stands in the wind his ears make a noise like blowing across the top of an empty bottle.
shooter,
they know they wrote it in there and yet the media helps them pretend they didn’t and provides wall-2-wall coverage of their fake outrage.
Yes we are in a steaming pile.
wrc,
sigh can’t do that with plastic bottles.
kids are being robbed of that joy!!
It’s amazing how these people like Dodd, who abuse the trust of the people they represent… tell those same people to piss off when they’re asked about their behavior…. then still get re-elected.
What an embarrassment that we such people who just pull the lever for someone like this.
that we HAVE such people
Any chance of creating a false emergency in D.C.? Filming all the spineless Congress critters clutching their “go-bags” and running over women and children to escape the threat would be priceless. These “public servants” couldn’t and wouldn’t help the average Joe if their lives depended on it and at least we could document it.
Their panicky behavior would remind me of the Ron White line, “Apparently, they have a lot to live for…”
What a bunch of cowardly tools!
What is wrong with Dodd and the rest of them? Was no one aware of the AIG bonus exemption? It wasn’t that long ago so how could they have forgotten?
Folks, I’m telling you, they (congress and Obama) think we’re stupid. They think we’ll fall for anything and won’t bother checking up on them. They’re faking this outrage as if they weren’t well aware that the bonuses are legal.
Call it! Set the date and let’s go.
I know people that voted for Obama. First thing they do with their money when he wins is buy guns because a Democrat WH and Congress is bad for gun ownership.
So they vote for people they KNOW will curtail rights they wish to enjoy.
bansharia , NJ-Aviator
Sadly, most Americans still get their ‘news’ from NBC, ABC and CBS over a whopping 23 minutes in the evening and as we all know that doesn’t even constitute real news.
Libs have the news, the schools, universities, school books, gov’t majority, etc.
We MUST fight.
Bansharia – In addition to what you posted, (via AtlasShrugs)- “After the September 11 attacks, commercial airline pilots were allowed to carry guns if they completed a federal-safety program. No longer would unarmed pilots be defenseless as remorseless hijackers seized control of aircraft and rammed them into buildings.
Now President Obama is quietly ending the federal firearms program, risking public safety on airlines in the name of an anti-gun ideology.
The Obama administration this past week diverted some $2 million from the pilot training program to hire more supervisory staff, who will engage in field inspections of pilots. ”
http://www.washingtontimes.com/news/2009/mar/17/guns-on-a-plane-obama-secretly-ends-program-that-l/
The problem for them is that the establishment propaganda machine (newspapers and network news) is going out of business. Maybe we’re not so stupid if we can figure out that we are getting propaganda for free today so why should we pay to get it tomorrow?
Off topic, but it looks like San Fran Nan is moving one step closer to asking for a newspaper bailout.
Salt: it’s not really a bailout, more of a plan to eliminate barriers preventing newspapers from buying into other media. Doesn’t matter. People are buying what they are selling regardless of what media they offer it on. We already have a 24-hour government propaganda network (PBS) and they spend all of their time begging for money when they aren’t providing free time for Suzie Ormand to peddle her inane books and DVDs.
RT,
inch my inch thank you for that head’s up.
We must all keep an eye on what obambi is realy doing.
reminder we all learned from the clinton regime the red herring game it is what got us the wall tween CIA/FBI etc.
psst Cab careful there champ I get your point the last time they went scattering they ran out of their shoes, but careful what you say it just may happen and they would come knocking on your door.
I agree. That’s why I said ‘one step closer’. When this fails, I imagine it’s not long before bailout’s on the table.
I would call Dodd “feculant sub-human vermin”, but then the Feculant Sub-Human Vermin lobby would be all over my ass.
I concur that it’s time to head to DC. Let’s call it The Two Trillion Tax Payer March on Washington.
Salt,
a couple of CT critters tried to “save” a group of papers that idea went down like a rock as stand alone bill. expect to see this stuffed into a nonrelated bill in the teeny weenie print.
cockroach legisataion
CRAP I tried to jump into the portal ala TRON to pull back that post and fix typo to no avail…..
LEGISLATION sorryyyy
sonofdy. I checked out your link to the 5th Amendment. It’s interesting that all of the sub-links point out relevant parts of the amendment text except one. There is a link to “Self-incrimination.” There is nothing in the 5th Amendment about self-incrimination. Interesting that the actual text – No person shall be compelled in any criminal case to be a witness against himself – is completey misunderstood. The link should say Compulsory self-witness.
I can’t be compelled to testify against myself. However, I can be compelled to testify against anyone else. If that testimony would incriminate me in some way, I can refuse to answer, but only on that specific question. Self-incrimination is not a blanket to refuse to testify.
On the other hand, my right against compulsory self-witness IS a blanket to refuse to testify. I cannot be compelled to take a witness stand if I am the focus of the prosecution.
That’s how Congress gets around your rights. They claim the congressional investigation is about something else entirely, but if your testimony can incriminate you and you fail to claim and exercise your rights, they’ll charge you with a crime. And the evidence is taken from your own mouth.
They’re just doing the work intelligent people know to be utterly useless.
JDtruly,
shall we all wear baby blue berets to send message to UN don’t even try to settle any internal “differences”?
Jail time for Dodd and Frank. They are the criminals here. Hard time. No pun intended.
Just heard Barney Frank arguing that the issue needs further study and “we must not rush into any action”. Why didn’t he say that before he and his fellow criminal windbags rushed the entire country into this bailout mess?
More on the Frank interview: he is arguing that we should be suing AIG on the basis of ownership rights. Wait a second. Any time someone uses the word “nationalization”, they are admonished that 5-10-50-80% does not constitute nationalization. According to Bernanke, we need a new word. So which is it?
It doesn’t have to be this complicated. Bankruptcy would answer all of these questions.
Blame,
I had to dig thru my black hole of links to find this as Peter’s name rang a bell:
http://finance.yahoo.com/tech-ticker/article/169961/Peter-Schiff-Why-I‘m-Right-and-My-Critics-Are-All-Wrong?tickers=%5Edji,%5Egspc,QQQQ,SPY,DIA,SHV,UDN
There is apparently an enormous market for once-fired brass for reloading and sale to law enforcement and to civilians for target practice and training. The Barry Soetero administration will now destroy this market.
Does anyone need more proof that the oaths of office these corrupt-o-crats take when sworn in, are meaningless? What meaning does “So help me God” mean to the truly Godless?
Protect and defend the Constitution of the United States? It depends on whom they want to protect, and from what (as, let’s say…the law)?
Perhaps it is time to enact a Voter Litmus Test to ensure that voters have knowledge of issues, and history of congressional players, before they are allowed to vote. Fox News viewers will have no problem passing a test…entitlement receivers and illegal aliens, not so much.
It’s all a misdirection scam to take the focus off the real problems with the ACTING president’s teleprompter.
“Once used ammo” — the brass, is generally capable of being reloaded about 10-20 times, so yes it is quite salable.
tarp,
the acting ! I love it lol.
Rush has started a new schtick:
what obamba’s teleprompeter tells him to say, it is a hoot
No! No! Worse for the environment. The contents are too toxic. Bad enough just to keep them contained the Congress critters dense noggins.
So is this evidence that we should let the government run everything?
BTW, the CEO of a former employer boasted of a connection with Dodd. Let’s just say IMHO it would make Dodd look bad.
Now that we won’t be using Yucca Mountain for to store nuclear waste, maybe the toxic waste from the politicians’ brain-case can be stored there.
Digital road signs are being hacked to say things like “Nazi zombies ahead, run”.
What would happen if the teleprompter gets hacked? Would there be an anti zombie stimulus bill announced?
Can we seal the corruptocrat Congress critters in Lucite first, then consign them to Yucca Mountain?
bansharia,
Thanks for the concern. If that ever happens, I will welcome my day in court. Especially since I will be the one with my hand over the Bible and not behind my back with fingers crossed (who in DC can say that?)
Everyone should read Kevin Rennie’s expose of Dodd in the Hartford Courant, picked up in the WSJ editorial two days ago. Dodd was buddy buddy with a convicted stock swindler named Jonathan Downe and Dodd arranged for a presidential pardon for Downe on the last day of the Clinton administration. Then Dodd got a sweetheart deal on an Irish cottage, special thanks to Downe. Dodd was on WFSB-Channel 3 Hartford, Ct. on Sunday defending his friendship with the stock swindler Downe. Dodd said Downe had reformed and taught school kids (he didn’t say what Downe taught the kids, maybe highway robbery 101) and so Downe should be forgiven. Interesting, Dodd is never asked about arranging the pardon and he still says he won’t release all his Countrywide documents.
So what this says is that the Senate was aware of the bonuses before the bill was signed by the President, and the President should also have known about it since he signed the damn thing. If he didn’t, someone in his administration should have known and cautioned him about it before he opened his mouth yesterday to express his outrage over the bonuses. The bonuses were addressed in the bill. Now everyone – including Congress and the President – wants to blame AIG, and only now do they seek to modify what they had in the original bill. How many of them ever read anything they vote on? How many tea parties will be necessary before they think about modifying the stimulus bill?
I’ll ask this slowly so that any of them that might be reading this might understand: How. Many. Of. Them. Knew. About. The. A. I. G. Bonuses. Before. Voting. On. This. Bill?
Dodd, I think Grassley wants you to commit hara-kiri. Or take a bow and apologize. Or something.
These jerks blew it big time. Their faces are slathered in eggs. I frickin’ hate liars and deceivers. Own up.
Please do! Now there’s some change I can hope for – or at least dream about : )
CO2: Not only did they know about them but, under the terms of the bill, these bonuses are exempt from the new rules. They are trying to make the American people believe they can do something but they can’t. Dodd is using scare tactics to try to get the AIG execs to not take money they are owed under contract because he knows that he and Congress are impotent to do anything.
Off topic, it’s 71 degrees today here in Wisconsin so, just in case there is any truth to CO2 raising the temp., everyone try to expand your carbon footprint as much as possible. Me likee it warmer.
sims: Or did those who voted “yea” on the bill leave the bonuses exempt to use them later as a political ploy against AIG, so Congress could look like the heroes expressing their outrage against the bonuses (or, as I’ve been wanting to call them, “bonii”)? Because the bonii were exempt from the first bill, would they now be taxable in new legislation? Or do I just not know what the hay I’m talking about as always?
I am upset that Hollywood stars make 20 million on a picture, and have no talent. We should demand that they have a special tax or forgo their excessive payments.
It appears to me to be fake outrage, so the masses do not storm the castle to destroy the monster.
Freddoso points out that it’s not just AIG that could allow this. All of the TARP recipients may do this. Pretty important footnote, I think.