Two Faced: Dodd Protected Bonuses, Now He Wants Them Out

Two Faced: Dodd Protected Bonuses, Now He Wants Them Out

www.newsmax.com

Dodd, chairman of the Senate Banking Committee, thundered on Monday: “This is another outrageous example of executives — including those whose decisions were responsible for the problems that caused AIG’s collapse — enriching themselves at the expense of taxpayers.”

But it was Dodd who inserted language — known as the Dodd amendment — in the $787 billion stimulus bill that allowed all bonuses awarded before February 11, 2009, to be paid to AIG executives. That very amendment, which is now law, is now the chief hurdle to government officials who want to recover that money.

The amendment was meant to restrict executive pay for bailed-out banks, but it also included the exception for "contractually obligated bonuses agreed on or before Feb. 11, 2009."

Dodd is the largest single recipient of 2008 campaign donations from AIG, with $103,100, according to the Center for Responsive Politics. That was more than presidential candidates Barack Obama and John McCain got, and nearly three times the $35,965 Sen. Hillary Clinton received.

(visit the link for the full news article)

Although Dodd is now saying that he is not to blame because the language that he put in the bill didn't have a date on it and that it got changed by someone else, it really doesn't matter to me because somebody in the legislative process obviously knew about the bonuses or else it wouldn't have been in the bill.

Once again, our lawmakers are saying that they didn't know what was in the law that they were passing. I think he did know but if he didn't that's worse because it means that our lawmakers don't know what laws they're making.



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

[edit on 18/3/2009 by Iamonlyhuman]

It's never the politician's fault. Ever notice that?

They have left the realm of reality and live in their own self-serving little celebrity world, relying on media and marketing to keep them politically 'buoyant'.

By the way..., has anything changed yet? Or is it still too soon criticize?

Originally posted by Maxmars
It's never the politician's fault. Ever notice that?

They have left the realm of reality and live in their own self-serving little celebrity world, relying on media and marketing to keep them politically 'buoyant'.

By the way..., has anything changed yet? Or is it still too soon criticize?

Yes it's too early... the rules say you gotta wait until 4/30/09 or 100 days. By then we'll have already sunk.

[edit on 18/3/2009 by Iamonlyhuman]

can someone tell me why that after his mortgage incident, and this, that he isnt out of the senate or hit by a fast moving vehicle?



[edit on 18-3-2009 by Swatman]

reply to post by Swatman


They are immune from reality.

Honestly, I am starting to believe that.

I have to wonder where the hell the Ethics Committee is? Where are these politicians constituents? Why aren't they outraged enough to vote these idiots out of office?

Dodd is the worst when it comes to pretending to be on the average American's side. He'll act innocent til the day he dies. He's a super fast-talker and his speaking strategy makes him sound like the people's representative- as if he were getting to the bottom of things.
But he doesn't look so good on paper. But I'm the CEO of a company I drove into the ground so Thanks Chrissy I appreciate you working for me!

I find it interesting the he claims to have been told by someone (no name) in the Treasury to include a provision allowing bonuses. Now people are all up in arms over the bonuses and asking, of course, should Government do "something."

So now Government to the rescue! They are going to tax everyone's bonuses.

I think this was planned from the beginning. The treasury wants have income taxes and payroll taxes, and now bonus taxes. But they need to sell it as a solution. Of course, Government is only creating problems and then offer themselves as the solution.

In the big picture,

They should be working on items of more import.

This happened last fall as well when they were snivelling over the Auto bailouts.

17 Billion was small coin then.

Now, the FED is infusing an additional 1.5 Trillion, with a T, and over four hundred of our tax-paid Representatives are snivelling over a measily couple hundred million, or a 10 million exec suite face lift.

Congress needs to work on the meat and potatoes, not the garnish.

Let's see some oversight. Lets see some laws that reside in reality.

Let's see some indictments.

Lets see something constructive for once in a decade.

Let them play with themselves on their own time.

It amazes me that these people are corporate suck-ups rather than the mouthpiece of constituants.

Stiff-arm, hand with palm out, fingers up.

[atsimg]http://files.abovetopsecret.com/images/member/6361d8d3ef91.jpg[/atsimg]

That is what they can talk to as far as I'm concerned.

To lend an ear to this jubilee of moronic behavior just makes my stomach churn.

Soon, they will either be held accountable, or I will introvert out of society.

It's like a double shift just to keep up on the new local and frederal taxes, the hidden texts in legislation, and the crumpling infrastructure of neverending rush hour, creeping along adding to the oil profits by idling for hours.

Promise change? convince my hand and I'll think about listening once again.


[edit on 19-3-2009 by imd12c4funn]

[edit on 19-3-2009 by imd12c4funn]

If Dodd had any self respect, he would resign his seat.

What part of Congress writes the law does he not understand?

It is ok to get advice but it is ultimately Congresses job to do what is right for America.

Originally posted by jam321
If Dodd had any self respect, he would resign his seat.

What part of Congress writes the law does he not understand?

It is ok to get advice but it is ultimately Congresses job to do what is right for America.

May I add;
If Dodd had any self respect, he would resign his seat.
..and turn himself in

hopefully a citizen does him in.

AS USUAL, the GOP has gotten the information backwards:

'Blame Dodd' Attacks Ignore Facts

Some Republicans have been quick to blame Democratic Sen. Chris Dodd of Connecticut for allowing big bonus payments to AIG executives. They get the facts backward.

The public record shows Dodd authored an amendment that would have prevented "any bonus" being paid to top executives of firms getting bailout money. It was the White House and the Treasury Department that insisted Dodd's amendment be watered down to apply only to bonuses paid under agreements signed in the past five weeks. Treasury Secretary Timothy Geithner has taken public responsibility for that.

Please read the Analysis and check out the sources!!