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Sen. Chris Dodd (D-Conn.) floated the idea of taxing AIG bonus recipients to recoup some of the $450 million paid to its financial products unit.
The move represents an about-face for Dodd.
To the $787 billion stimulus last month, Dodd added an amendment that provides an “exception for … bonuses agreed on before Feb. 11, 2009” -- which exempts the AIG bonuses Dodd is now seeking to tax.
Dodd was AIG’s largest recipient of donations in 2008 with $103,100, according to opensecrets.org.
Originally posted by mybigunit
Peter Schiff 2010 thats all I have to say to that. Dodd needs to be eliminated. He is a criminal and should be tried for treason for he is a big part of the reason we are in this debacle along with everyone else in this two party crime family.....
Originally posted by inthesticks
Iknow it will be tough, but with news out every day on Murtha, Rangel, Dodd and Frank, I think that cabal will be history soon.
We can only hope! I do remember reading somewhere (although can't remember where) that Dodd may not get re-elected next time around.
Don't know if it was just somebody doing some wishful thinking or if there is/was some sort of movement or something going on to get rid of him.
Cuomo, the NY A.G., just released names, and mnay don't even work for AIG anymore! Some "retention!"
Obama’s Own Stimulus Bill Protects the AIG Bonuses He Now Condemns“:
HIGH IMPACT - Thanks to our stimulus spending bill search engine, we discovered that Obama granted AIG a free legal pass to give high bonuses because of the following stipulation in Obama’s stimulus bill he personally orchestrated and signed into law:
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.
Originally posted by jdub297
Fact is, 11 AIG employees who received bonuses of at least $1 million left the company shortly after.
Yet CEO Liddy and the Obama admin go on Sunday Tv and call these "retention" bonuses!
Dodd, et al should 'fess-up, just like Grassle said, and resign.
[edit on 17-3-2009 by jdub297]