Amid AIG Furor, Dodd Tries to Undo Bonus Protections He Put In, page 1
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Topic started on 17-3-2009 @ 01:26 PM by jdub297

Amid AIG Furor, Dodd Tries to Undo Bonus Protections He Put In


www.foxbusiness.com
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.
(visit the link for the full news article)


Related News Links:
www.opensecrets.org
www.foxbusiness.com


reply posted on 17-3-2009 @ 06:35 PM by David9176
reply to post by jdub297





Cuomo, the NY A.G., just released names, and mnay don't even work for AIG anymore! Some "retention!"


Cuomo is just as dirty as anyone else involved in this mess.

They are all trying to play superhero right now...trying to ship blame off themselves...and the BILLIONS sent to Foreign banks!!!

Stop focusing on the wrong issue!!

THis is how they were sending money out of the country without you knowing about it...it's out there and THEY AREN"T DISCUSSING IT.


reply posted on 17-3-2009 @ 07:46 PM by Stormdancer777
www.butasforme.com...

Dodd, Chris (D-CT) Senate $103,100
Obama, Barack (D-IL)Senate $101,332
Clinton, Hillary (D-NY) Senate $35,965
Baucus, Max (D-MT) Senate $24,750
Biden, Joseph R Jr (D-DE) Senate $19,975



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.
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