Now Dodd is saying it too!

[Damocles]

http://politicalticker.blogs.cnn.co...was-responsible-for-bonus-loophole-says-dodd/

I was responsible for bonus loophole, says Dodd

WASHINGTON (CNN) — Senate Banking committee Chairman Christopher Dodd told CNN’s Dana Bash and Wolf Blitzer Wednesday that he was responsible for adding the bonus loophole into the stimulus package that permitted AIG and other companies that received bailout funds to pay bonuses.

Link is above..

 

[SmarterthanYou]

Well Damo, looks like we were right.

 

[NOVA]

You guys usually are right...its getting the bonehead hacks on the other side to recognize it that is all but impossible ....

 

[FUCK THE POLICE]

Was it an accident?

Is congress going to reverse the bonuses?

 

[SmarterthanYou]

Was it an accident?

Is congress going to reverse the bonuses?

no, congress will, in its dictatorial and tyrannical behavior, will tax these people at 90%. An obvious misuse of the congressional power to tax and with the courts approval, could conceivably pass that 90% tax rate to the income of all americans.

 

[FUCK THE POLICE]

no, congress will, in its dictatorial and tyrannical behavior, will tax these people at 90%. An obvious misuse of the congressional power to tax and with the courts approval, could conceivably pass that 90% tax rate to the income of all americans.

Of course they could. They could also apportion the entire budget to building teddy bears. Neither action would be unconstitutional.

 

[Bonestorm]

Well . . .

Senator Dodd, Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today issued the following statement on his executive compensation amendment:

“I’m the one who has led the fight against excessive executive compensation, often over the objections of many. I did not want to make any changes to my original Senate-passed amendment but I did so at the request of Administration officials, who gave us no indication that this was in any way related to AIG. Let me be clear – I was completely unaware of these AIG bonuses until I learned of them last week.

“Reports that I changed my position on this issue are simply untrue. I answered a question by CNN last night regarding whether or not a specific date was aimed at protecting AIG. When I saw that my comments had been misconstrued, I felt it was important to set the record straight – that this had nothing to do with AIG.

“Fortunately, we wrote this amendment in a way that allows the Treasury Department to go back and review these bonus contracts and seek to recover the money for taxpayers. Again, I have led the fight to curb excessive executive compensation, and will continue to do so.”

 

[Damocles]

Was it an accident?

Is congress going to reverse the bonuses?

I don't think they can. I also think it is largely a distraction from larger issues.

 

[evince]

This was all about how to do it in a legal way, Now Gietner is saying it was his fault.

Much ado about nothing.

Now some would like to see every issue OVERHANDLED for press reasons.

I thought maybe we were grown up enough now not to insist everything be overmanaged to please the press cycle.

 

[Damocles]

This was all about how to do it in a legal way, Now Gietner is saying it was his fault.

Much ado about nothing.

Now some would like to see every issue OVERHANDLED for press reasons.

I thought maybe we were grown up enough now not to insist everything be overmanaged to please the press cycle.

If I were them I would have let them sue and canceled the bonuses. The company is in bankruptcy.

But I have stated many times that this was a useful diversion for many politicians from other activities. For instance, the 1 Trillion from nowhere that barely was spoken of...

 

[SmarterthanYou]

This was all about how to do it in a legal way, Now Gietner is saying it was his fault.

Much ado about nothing.

Now some would like to see every issue OVERHANDLED for press reasons.

I thought maybe we were grown up enough now not to insist everything be overmanaged to please the press cycle.

weren't you libs screaming about how there was never enough regulation, but now you think bitch about people wanting things over managed?

typical lib, can't make up your mind.

 

[Bonestorm]

If I were them I would have let them sue and canceled the bonuses. The company is in bankruptcy.

But I have stated many times that this was a useful diversion for many politicians from other activities. For instance, the 1 Trillion from nowhere that barely was spoken of...

So your theory is that the politicians drummed this up for the media to go crazy over so that the FED could do what the FED was going to do anyway?

 

[Damocles]

So your theory is that the politicians drummed this up for the media to go crazy over so that the FED could do what the FED was going to do anyway?

No, I think that politicians took advantage of something that was distracting people to "get things done". I think the Administration in particular is particularly good at "taking advantage of a good crisis".

(Does anybody remember that "So, you are saying.." thread on politics.com? This is exactly that kind of straw man.)

When they saw that people were getting worked up over this all they had to do is go out and "express outrage".

We find out that they knew, the FED knew, it was reported in their SEC filings, and the President likely knew too.. but heck they are "shocked" and "outraged".

 

[SmarterthanYou]

They used to call this 'wagging the dog'.

 

[Bonestorm]

No, I think that politicians took advantage of something that was distracting people to "get things done". I think the Administration in particular is particularly good at "taking advantage of a good crisis".

(Does anybody remember that "So, you are saying.." thread on politics.com? This is exactly that kind of straw man.)

When they saw that people were getting worked up over this all they had to do is go out and "express outrage".

We find out that they knew, the FED knew, it was reported in their SEC filings, and the President likely knew too.. but heck they are "shocked" and "outraged".

OK, but politicians expressing shock and outrage after the fact when they knew or should have known before hand in response to general outrage about the issue is one thing.

Saying that "politicians" took advantage of the outrage to "get things done" and then saying that the Administration took advantage of this to get things done is quite another, particularly where "the politicians" including the Administration and Congress, don't control what the FED does.

 

[FUCK THE POLICE]

This is pretty bizarre, because Dodd was the big voice calling for the salaries to be capped in the first place.

 

[Bonestorm]

This is pretty bizarre, because Dodd was the big voice calling for the salaries to be capped in the first place.

See post #7.

 

[Canceled2]

Well Damo, looks like we were right.

This is so much BS! Any private companies that had contracts regarding any kinds of compensation were not the business of the federal government prior to receiving federal bailout dollars. When AIG received bail out dollars it WAS the Obama administration’s responsibility to deal with those contracts prior to them receiving money...not only did they fail to do this (which Obama personally stated he'd do several times) but democrat Dodd made a "special amendment" to protect those compensations. Who received the most campaign donations from AIG in 2008--- Dodd and Obama!

The real BS however is the use of congressional power to seize these compensations after the fact via a tax fiat!

And then there's the real real big BS which no one is paying attention to; the fact that 30 billion went to foreign banks to buy securities that are not in trouble!!! Now these foreign entities have US tax dollars to buy up American assets at rock bottom prices...Obama has proven he is a fiscal idiot of the highest order!!!

 

[Damocles]

This is pretty bizarre, because Dodd was the big voice calling for the salaries to be capped in the first place.

Yeah, but he let the Administration talk him into changing it so he's admitting that he should have stuck to his guns basically. I think he's trying to take some of the heat off the people who really mucked it.

 

[SmarterthanYou]

Yeah, but he let the Administration talk him into changing it so he's admitting that he should have stuck to his guns basically. I think he's trying to take some of the heat off the people who really mucked it.

That's what I was kind of thinking earlier, is Dodd falling on his sword for Obama?