Fox Business reports "Senate Banking Committee Chairman Chris Dodd (D-Conn.) on Monday night floated the idea of taxing American International Group...bonus recipients so the government could recoup some or all of 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 was constructing the $787 billion stimulus last month, Dodd added an executive-compensation restriction to the bill. The provision, now called the 'Dodd Amendment' by the Obama Administration provides an 'exception for contractually obligated bonuses agreed on before Feb. 11, 2009' -- which exempts the very AIG bonuses Dodd and others are now seeking to tax."
This stimulus package was passed without anyone knowing what the hell was in it. Chris Dodd, who helped get us into this financial mess, put an amendment into the non-stimulus spendapalooza porkulus package allowing for the bonuses and now has the audacity to show an ounce of outrage. How dare the very politicians behind crafting the massive bailout pretend to be angry over money being wasted by AIG. Where is the outrage over taxpayer money being wasted by Congress far in excess of the $160 million in AIG bonuses?
This is a Democrat scandal. Every House Republican voted against the stimulus package. All but three Senate Republicans voted against the stimulus package. Now the very Democrats that threw taxpayer money around like it was nothing are shouting foul. Shame on them!
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Wednesday, March 18, 2009
Senator Chris Dodd And The AIG Bonuses
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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.
ReplyDeletehttp://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.
Obama takes no pass, it was his stimulus package that he signed and promoted, that he said needed to past without a moment of delay, that included these provisions allowing for these bonuses to go ahead unimpeded. Obama should be ashamed of himself standing up on his podium pretending to be outraged when his very own legislation specifically provided for the allowance of these bonuses to begin with. I am sick of these political charades.
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