Senator Dodd didn’t write the bonus loopholes…
Or maybe it’s the other way around.
It’s so dreadfully hard to keep it all straight, isn’t it? So it’s totally understandable that Senator Dodd might be a wee bit confused about what he did or didn’t do.
Either way, though, I’d say he’s in deep doodoo:
Dodd just admitted on CNN that he inserted a loophole in the stimulus legislation that allowed million-dollar bonuses to insurance giant AIG to go forward ”“ after previously denying any involvement in writing the controversial provision.
I AM OUTRAGED !
😉
Wasn’t Sen. Dodd the #1 recipient of campaign funds from AIG? Wasn’t Obama #2?
At some point, Dodd, and maybe Frank are gonna get tossed under the Obama bus. Just watch. It’s coming.
Well, so much for the Zionist Conspiracy, Neo-neocon. I can delete all the research! But, let me get this straight – The Fools in Congress, i.e. the Democrats, had a provision in the stimulus bill, which none of the even read, that restricted bonuses by AIG. Then…the Fools in Congress, i.e. the Democrats, removed that provision and substituted one which allowed AIG to proceed with bonuses which were entered into by way of valid and binding contracts with employees prior to mid-February 2009. Then…AIG, acting with statutory authority under a validly enacted Congressional bill and their legal duty to fulfill their contractual obligations under both the common law of contracts and relevant statutory law, paid the said bonuses to their employees. Thus, so far, things are in accord with what my old contracts professor in law school taught us. However…the Fools in Congress, i.e. are now “outraged,” as is the Fool in the White House and all his minions. Pray tell, WHAT are they “outraged” about? Someone PLEASE ‘splain that to me! Oh, by the way, one of the Fool Dodd’s biggest campaign contributors was AIG. Has he announced yet when he is giving half of it back? Waiting…waiting…waiting…..
Would it be too off the wall to suggest that the Dodd amendment may have been put in as a poison pill so the Dems would have an excuse to be “OUTRAGED” and divert attention to the “GREEDY CORPORATION” in the very likely case that their money dump failed to have the desired effect on the economy?
Hard to think of any depth these clowns wouldn’t sink to.
Wm Lawrence: Perhaps you are right. I find that more and more I am having to delete the phrase “Oh, c’mon, they wouldn’t do THAT!” from my vocabulary.
Breaking News: Dodd Says loophole that protects AIG Bonuses added per request of the Obama administration. The video is about a fifth of the way down.
http://www.butasforme.com/2009/03/17/obamas-stimulus-bill-explicitly-grants-aig-the-legal-right-to-hand-out-bonuses/
Obama should take full and direct responsibility for this mess.
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Could the scandal grow large enough for people to finally want to throw the Dems out of Congress? They are very good at remaining clean while wallowing in the mud and filth, but this might cook their bacon.
All this, and we’re still not even through the first 100 days of the Obonga Empire era……
Yes, the law is an ass. Every rational person knows this. But they should know also that lawlessness is a much more dangerous beast than an ass, and that when politicians chose to lead lynching mobs instead of restrain them, we really are in dire straits. Contract obligations can not be retracted retroactively and sacrificed to political expediency – this is an axiom of jurisprudence. Throwing under bus this principle can cost us much more than 0.1% of bailout cost.
If AIG debacle was treated according usual market rules – by bankruptcy laws – all these bonuses would be automatically voided. But governmets intervention is doomed to create judical conundrums and ultimately lead to law vacuum where no judical principle apply. A bad omen to this presidency and to everything ahead.
The clip says it all – good job Neo
At some point, Dodd, and maybe Frank are gonna get tossed under the Obama bus. Just watch. It’s coming.
One can hope so. Ah, tasty, tasty schadenfreude.
Don Janousek, you need to stop associating fools with members of the party in power.
Oh, and the Congresscritter who tried to put restrictions on the bonuses was Olympia Snowe (RINO-ME).
Could the scandal grow large enough for people to finally want to throw the Dems out of Congress?
Right now, I’m to the point of saying throw all the incumbents out. Every. Last. One.
IRA,
Forgetaboutit…by the time the next elections roll around everyone will have forgotten about this small tiff….
I’m sure they will have come up with an even bigger disaster by then that will make folks forget all about these bonuses!!!
Is anyone keeping track on a daily basis of all these misteps? It’d make a bestseller one day – or at least it would if we have any money left by then to buy bestsellers….
I reckon that by 2010, Chrissy will be the best candidate for CT. All this brouhaha will have died down by then.
Every time I watch “Mr. Smith Goes To Washington”, the character played by Claude Rains reminds me so much of Dodd. Corrupt, beholden not to his constituents but to the party boss.