Two Faced: Dodd Protected Bonuses, Now He Wants Them Out
Tuesday, March 17, 2009 2:30 PM
By: Jim Meyers
Democratic Sen. Christopher Dodd on Monday criticized the bonuses given to executives of American International Group Inc. and suggested that the government could tax the recipients to recoup some or all of the payouts.
But it was Dodd who inserted language in the $787 billion stimulus bill that exempts the bonuses from taxation.
AIG lost $61.7 billion in the fourth quarter of 2008, the biggest quarterly loss in corporate history, and has received $173 billion in federal aid. But the company is paying $450 million in bonuses to employees of its financial products unit.
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.”
While the Senate was constructing the stimulus package last month, however, Dodd added an executive-compensation restriction to the bill, which 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, Fox News observed.
That amendment is law.
Incredibly, Dodd has now demanded a full briefing from the Federal Reserve and the Treasury on why “clauses weren’t attached to the four AIG bailouts to halt bonuses,” according to the New York Daily News.
“Why wasn’t the Fed putting conditionality four different times they provided resources to AIG?” Dodd asked.
Fox News also noted that one of AIG’s financial products unit’s largest offices is based in Dodd’s home state of Connecticut, and that he was the largest single recipient of campaign donations from AIG during the 2008 election cycle.
Dodd received $103,100 from AIG, more than presidential candidates Barack Obama and John McCain got, and nearly three times the $35,965 Sen. Hillary Clinton received.
Meanwhile, the News is reporting that New York Attorney General Andrew Cuomo said his office will investigate whether the bonus payments are fraudulent because they were promised when AIG knew it wouldn’t have the money to cover them.
© 2009 Newsmax. All rights reserved.
It is simple, Politicians must be taught at school that people generally have a attention span of about 2 days.
ReplyDeleteBarack Obama, Barny Frank, Harry Reid, Chris Dodd along with Nancy Pelosi have all made Major changes to their public speeches on everything from No Earmarks in the stimulus package to their apparent amnesia when it comes to regulating Fanny and Freddy. This is something of a phenomenon amongst some of our more Socialistic Legislators and leaders.
This phenomenon is mirrored right down to our local town council. Democrats create a ethics rule then the council blatantly disregards it. Some members even going as far as to insinuate that it is a tool used only by the republican members of the council to "get" them.
Even the national talking heads get in the act. James Carville the "I hope Bush fails" guy is; I quote "SHOCKED" when conservative talk show host Rush Limbaugh expresses similar feelings about President Obama!!
From the New York Times 2/17
ReplyDelete"But Mr. Reid mostly ducked a question about whether Democrats had missed an opportunity to prevent the bonuses because of a clause in the stimulus bill, that imposed limits on executive compensation and bonuses but made an exception for pre-existing employment contracts.
Senator Christopher J. Dodd, Democrat of Connecticut, who initially proposed adding executive compensation and bonus limits to the stimulus bill, did not include the exception. The clause was apparently added in final negotiations between Congressional leaders and the Obama administration."
Proof that Frank Smith and his band of Republican Town Committee members likes to spread right-wing media lies.
Thought he was a Democrat
This comment has been removed by a blog administrator.
ReplyDeleteWow, we have someone in town who could possibly defend peek-a-boo Dodd?
ReplyDeleteMust be Sherwack himself?
sounds like something little mac, the lesser one, would be behind.
ReplyDeleteAnonymous said... The clause was apparently added in final negotiations between Congressional leaders and the Obama administration.".... Proof that Frank Smith and his band of Republican Town Committee member’s likes to spread right-wing media lies……Thought he was a Democrat..............
ReplyDelete:-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-( :-(
What a joke. It is obvious that Senator Dodd pushed for this admendment. It didn’t just appear there. Who do you suppose this Congressional leader was?
Let me let you in on a little secret. There are some members of the DTC who post here as well. I know of one who is posting right now. The Democratic Party is in for a very real day after hangover from the little socialist binge it has gone on.
From the national level right down to our own Democratic town commitee, left wing Socialist have hijacked the Party. People are going to turn sour on this type of arrogance in a hurry.
Herr Dodd is not going to like you, Frank!
ReplyDeleteThink these liberal loons will defend Dodd for taking the special mortgage deal as a "friend of angelo" too, I'm sure. They must have enjoyed Dodd's "peek-a-boo" stunt with the reporters when asked to "come clean" on the details of his mortgage. Imagine the outcry from the media if a Republican did such a stunt, but there's no liberal media bias in this country?
ReplyDeleteFrom the New York Times 2/17
ReplyDelete"But Mr. Reid mostly ducked a question about whether Democrats had missed an opportunity to prevent the bonuses because of a clause in the stimulus bill, that imposed limits on executive compensation and bonuses but made an exception for pre-existing employment contracts.
Senator Christopher J. Dodd, Democrat of Connecticut, who initially proposed adding executive compensation and bonus limits to the stimulus bill, did not include the exception. The clause was apparently added in final negotiations between Congressional leaders and the Obama administration."
Proof that Frank Smith and his band of Republican Town Committee members likes to spread right-wing media lies.
''''''''''''''''''''''''''''''''''
Lies? Why is it whenever you catch these socialists at their game, they accuse you of lying? Anyone who denies that Chris Dodd authored the amendment that guaranteed these bonuses be paid, is the liar, not Mr. Smith.
Not only did Chris Dodd write and slip the amendment into the stimulus bill, but it is a fact that Dodd took over $100,000 in campaign donations from AIG. Could there be a "Quid Pro Quo" here--you decide???
As a matter of fact, Senator Chris Dodd was the largest recipient of campaign donations from AIG, and guess who was second on that list:
Then Senator Barrack Obama of Illinois!
Does this situation stink yet??
You Decide???
I believe Senator Clinton of New York was high on that list too!
ReplyDeleteDemocratic Sen. Christopher Dodd on Monday criticized the bonuses given to executives of American International Group Inc. and suggested that the government could tax the recipients to recoup some or all of the payouts.
ReplyDeleteIF THESE MARXISTS CAN JUST SIMPLY SINGLE OUT A GROUP OF AMERICANS TO SEIZE THEIR MONEY THROUGH A 100% TAX, WHAT MAKES YOU THINK YOU WON'T BE THE NEXT ONE TARGETED BY THEM?
No wonder the Chancellor of Germany has declared herself the leader of capitalism and the free world now that the U.S. is socialist.
ReplyDeleteThere are some members of the DTC who post here as well.
ReplyDeleteI heard that "Little Mac" loves this site!
Senator Simmons has a nice ring to it!
ReplyDeleteI am a democrat but would not vote for anyone that is associated with the likes of Sherwood and Truthworthy. What we need is 13 changes in this town.
ReplyDeleteLet's not forget that Dodd, along with his Co-conspirator Barney Frank (now known as the banking queen) are directly responsible for the housing crisis which caused this entire banking system destruction.
ReplyDeleteNow Dodd is denying that he wrote that amendment (even though it has his name on it) and claiming that some unknown person slipped it into the bill during secret closed door conferences that are hidden from the public where there is no record kept and no possible way to know who submitted anything into a bill that became law.
ReplyDeleteDoes anyone else see a problem with this?
This may become as big a mystery as who hired Craig Livingstone?
Tuesday, March 17, 2009 9:26 AM EDT
ReplyDelete________________________________________
Simmons hits campaign trail to unseat Dodd
Monday was only his first day on the campaign trail, but Rob Sim¬mons already has fans in this little town.
The former Republican con¬gressman unveiled plans to run against the state’s senior sena¬tor, Democrat Christopher Dodd, on Sunday so a previous¬ly scheduled ordinary visit with the town’s GOP became an im¬promptu campaign launch.
In a brief address to the town committee’s 30 members, Sim¬mons said a love for public service — and disappointment in Dodd’s performance, espe¬cially as chairman of the power¬ful Senate banking committee — led to his decision to seek public office once again.
Simmons narrowly lost a bid for what would have been his fourth term in the state’s 2nd Congressional District to De¬mocrat Joe Courtney in 2006.
But Simmons found a new op¬ponent in Dodd, a five-term in¬cumbent whom Simmons said failed as leader of the govern¬ment’s financial services sector by not taking action despite warning signs of the current economic crisis.
“Questions were not ade¬quately asked or answered and, as a result, (our economy) col¬lapsed,” Simmons said. “As a consequence, men and women across our country are losing their homes. Their IRAs and savings are lost.”
Simmons said one focus, if elected, would be creating tax breaks to help small businesses during the economic downturn.
Reported by the Republican-Amercan
Tuesday, March 17, 2009
ReplyDeleteSimmons coming to Bristol Friday
Former U.S. Rep. Rob Simmons, who announced this week he intends to run for senator, is slated to make one of his first campaign stops in Bristol Friday for the Republicans’ Lincoln Day fundraising dinner.
Simmons is taking aim at longtime U.S. Sen. Chris Dodd, a Democrat who could be vulnerable in the 2010 race.
Bristol GOP Chairman T.J. Barnes said Tuesday that Simmons is one of the few people in his party in Connecticut with the stature to take on Dodd – and perhaps win.
The Lincoln Day dinner is typically the major fundraiser for the city’s Republican Party each year. Barnes said he expects at least 60 people to attend the dinner at Nuchie’s.
Simmons, who lives in Stonington, is in a dead heat with Dodd, according to a Quinnipiac University poll released last week.
The poll’s director, Douglas Schwartz, said the results “have to worry” Dodd since Simmons “is not well known outside his district, yet he is running neck and neck with Dodd at this point,” according to a Quinnipiac press release.
Simmons represented southeastern Connecticut in Congress from 2000 until 2006, when he was ousted by U.S. Rep. Joe Courtney in a razor-thin election.
The city GOP dinner, which costs $50 a person, is slated to begin with cocktails at 5:30 p.m., a meal at 6:30 and an address by Simmons at 7:30.
For more information or to buy tickets, contact Barnes at (860) 314-0423.
*******
Copyright 2009. All rights reserved.
Contact Steve Collins at scollins@bristolpress.com
POSTED BY STEVE COLLINS AT 3/17/2009 12:38:00 PM
LABELS: DODD, GOP, REPUBLICANS, SIMMONS
It is about time we got back to the conservative values that this country was founded on and electing Rob Simmons will be a great start in that direction!
ReplyDeleteTo the liberal wackadoos like Nancy Pelosi, Harry Reed, Chuck Schummer, and yes Connecticut's own Chris Dudd who are promising to pass a 100% tax against the employees of AIG to seize their bonuses, perhaps you should actually read the constitution that you were sworn to uphold:
ReplyDeleteA bill of attainder (also known as an act or writ of attainder) is an act of legislature declaring a person or group of persons guilty of some crime and punishing them without benefit of a trial. Bills of attainder are forbidden by Article I, section 9, clause 3 of the United States Constitution.
Obviously, an oath of office means no more to the Congressmen and Senators than it does to the Democratic members of the New Britain Court of Council.
To those lunatic nutjobs in Washington who are promising to pass a retroactive tax, perhaps they should also learn to read:
ReplyDeleteAn ex post facto law (from the Latin for "after the fact") or retroactive law, is a law that retroactively changes the legal consequences of acts committed or the legal status of facts and relationships that existed prior to the enactment of the law.
In the United States, the federal government is prohibited from passing ex post facto laws by Article I, section 9 of the U.S. Constitution and the states are prohibited from the same by clause 1 of section 10.
Interestingly, it seems to be all Democrats who are making these outrageously unlawful and unconstitutional promises.
In the United States, the federal government is prohibited from passing ex post facto laws by Article I, section 9 of the U.S. Constitution and the states are prohibited from the same by clause 1 of section 10.
ReplyDeleteWouldn't this apply to the ethics rules that the infamous Sherwack is trying to retroactively apply to elected officials?
We know Senator Dodd can't read because he is a product of the public school system taught by union teachers.
ReplyDeleteAfter emphatically denying any involvelemt in the amendment that guaranteed the AIG multi-million dollar bonueses yesterday, today Senator Peek-A-Boo Dodd admitted in a television interview that he "shares responsibility" for it and went on to explain that he did it at the request of the Treasury Department. We have only one question for you, Senator Dodd:
ReplyDeleteWere you lying yesterday, or are you lying today?
Today was day #58 of the new preisdency. Interestingly, George W. Bush had a 2% higher approval rating on day #58 of his presidency than Barrack Obama does today. Maybe if President Obama works really hard, he can raise his approval rating to be as high as President Bush's was?
ReplyDeleteChris Dudd's campaign slogan should be "no one took more money from AIG!"
ReplyDeletecourant.com/news/politics/hc-aig-dodd-bonus-0319.artmar19,0,4315214.story
ReplyDeleteCourant.com
Dodd Admits Role In AIG Bonus Controversy
By CHRISTOPHER KEATING
The Hartford Courant
March 19, 2009
U.S. Sen. Christopher Dodd, already reeling in public opinion polls, suffered another political blow Wednesday with the admission that he had been involved in key legislative changes that helped pave the way for AIG to pay controversial bonuses to its employees.
In a retreat from earlier statements, Dodd said Wednesday that U.S. Treasury Department officials had approached him last month, urging him to modify an amendment to the federal stimulus bill that capped bonuses for executives at companies receiving aid.
On Tuesday, Dodd said that he was not a member of the conference committee that crafted the final compromise bill and said that the exception had not been in the bill as he drafted it.
But late Wednesday, Dodd admitted in an interview with CNN that he had been involved in the change.
"I agreed reluctantly," Dodd said. "I was changing the amendment because others were insistent."
The admission was another in a series of issues that have brought negative attention to the state's senior senator.
"It's apparent that Sen. Dodd — on a whole host of issues — has a lot of explaining to do," state House Republican leader Lawrence Cafero said. "People are having a credibility problem here. ... For a long time, there was an impression that Chris Dodd was an institution and could be there [in the U.S. Senate] as long as he wanted to. Once you believe that, that's when the wheels come off."
Dodd said he agreed to the Treasury Department's request, which made the limits apply only to future bonuses. Dodd's provision, as originally proposed, operated retroactively, meaning that it would have applied to any firm, such as AIG, that benefited from the first wave of federal assistance.
The senator said he agreed to the change to protect the compensation restrictions he was seeking. He refused to name the U.S. Treasury officials who asked him to add the language that paved the way for the bonuses, saying that much of the detailed work on the bill was done on the staff level.
"The alternative was losing the amendment entirely," Dodd said.
The political firestorm that had been simmering around the issue all day exploded with Dodd's admission. Dodd is already vulnerable when it comes to matters relating to AIG. Employees and PACs related to the financial services company have donated thousands to the senator's campaign coffers through the years.
Amber Wilkerson, a spokeswoman for the National Republican Senatorial Committee, said: "Sen. Dodd's reversal on this issue is both astonishing and alarming."
"Contrary to his statements and denials over the last 24 hours, Sen. Dodd has now admitted that he and his staff did in fact change the language in the stimulus bill to include a loophole for AIG executive bonuses."
Dodd said his comments were not a reversal, although when asked by CNN what had changed in his understanding between Tuesday and Wednesday, the senator replied, "Going back and reviewing it. … I apologize if we had some confusion."
Still, he said in a statement: "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."
The firestorm around Dodd is the most intense ever for the veteran politician who is known as one of the most savvy political players nationally. In Connecticut, his name recognition is as close to 100 percent as possible, and he normally wins re-election in a blowout.
But this year is different.
In a telephone interview with The Courant on Wednesday night, Dodd said he knows he has been enmeshed in multiple controversies recently, including the refinancing of his two mortgages with Countrywide Financial, his purchase of a 10-acre cottage in Ireland and the latest firestorm over the AIG bonuses.
"I've been getting whacked around the head for the last eight or nine months — part of it my own fault for not stepping up earlier," Dodd said.
Concerning the poll ratings that show he is in a statistical dead heat with Republican Rob Simmons in a potential matchup in 2010, Dodd cited the national and state economies as being a major problem for an incumbent politician.
"The backdrop doesn't help," Dodd said. "Jobs being lost. Homes being lost. There are obviously exceptions to this, and we know it."
When asked about speculation concerning his possible retirement by 2010, Dodd said, "I'm running. I haven't announced anything yet. ... I want to win. What I want more than winning is to do what I'm supposed to be doing."
Dodd said several times that it was ironic that he was being criticized regarding the amendment, saying that he had no co-sponsors and was the only person who spoke in favor of it originally. He flatly tried to block companies receiving federal bailout money from paying bonuses in the original bill.
"It's somewhat ironic that the people who thought I had gone too far," Dodd said, "are now saying I didn't go far enough."
Tribune Washington Bureau reporter James Oliphant contributed to this story.
Copyright © 2009, The Hartford Courant
Chris Dodd on Tuesday: "I did not write that amendment"
ReplyDeleteChris Dodd on Wednesday talking on camera to Fox News:
"I share responsibliity for this amendment, but I did it at the request of the Treasury Department."
Chris Dodd: FLIP FLOPS YOU CAN COUNT ON!
Today Congress is planning to pass a 90% tax on bonuses paid to AIG employees. The fact that they think they can do this, that they want to do this, whether or not they succeed should scare the hell out of you! One Congresswoman even said she would tax them 1,000% if she could because these (rich) people need to be punished severely!
ReplyDeleteWhat is next. I could see Congress being outraged over public, state employees in a state which accepted stimulus money from Obama, paying two state government employees state salaries of approximately $1.6 million per year, and even more outrages that they will retire with seven figure salaries and free insurance for the rest of their lives. What if Congress decided they need to be punished and decides to tax them at 90% because they need to be punished?
Then who is next, what about state or city employees who worked overtime and had the audacity to take overtime at time and one half during these tough economic times, when do they need to be punsihed?
How about the CEO of a local hardware manufacturer, a local dairy company, or a local construction company, when does Congress get around to deciding that their salaries are obscene and that they need to be punished?
Where does this madness end and who is next?
If this doesn't outrage you, and wake you from your euphoric slumber, then you are a mush brain for sure and probably will be a great candidate for the New Britain City Council.
Glenn Beck today on Fox News:
ReplyDeleteCONNECTICUT, WHEN ARE YOU GOING TO WAKE UP TO THE CORRUPTION THAT IS GOING ON WITH CHRIS DODD???
Dodd is competing with Catanzaro for the most scandals at one time!
ReplyDeleteWhere is ethics Czar Phony Phil Sherwack to condemn the unethical conduct of Connecticut's senior Senator????
ReplyDeleteOh, that's right, according to Sherwack, ethics only apply to Republicans.
According to Glenn Beck, the Obama Administration created this phony hysteria about the so-called bonuses to take attention away from the real issue being that the administration used AIG as a money laundering entity to distribute $110 billion in bail-out money to banks, $66 billion of that going to foreign countries, and only $44 billion of it staying here in the US. They apparently believe most people would be outraged to discover that $20 billion more of their money went to Europe than stayed here in the U.S. so why not draw your attention off the ball? What do you think?
ReplyDeleteSenator Fred Thompson:
ReplyDeleteIf Tim Geitner were fired, he fears there is no one else who could replace him. He explained there are many qualified people in America, but not that would work for Obama.
courant.com/news/politics/hc-dodd-countrywide-0320.artmar20,0,5251192.story
ReplyDeleteCourant.com
Congressional Report: Countrywide Bent Loan Rules For Dodd
By MATTHEW KAUFFMAN
The Hartford Courant
March 20, 2009
An executive at mortgage giant Countrywide Financial overrode the company's loan-writing policies to give a discount to Sen. Christopher Dodd, the powerful chairman of the Senate banking committee, according to an internal Countrywide document turned over to congressional investigators and obtained by The Courant.
But paperwork, e-mails and other loan documents reviewed as part of the congressional probe include no direct evidence that Dodd was aware at the time that he was getting a discount, according to a source familiar with the investigation.
And a Dodd spokesman Thursday repeated the senator's contention that there was nothing in the negotiation or loan process that was unusual or out of the ordinary.
Dodd, who refinanced two mortgages with Countrywide in 2003, has said that he did not know that he had been placed in a special group of customers known as "Friends of Angelo" — a reference to Countrywide CEO Angelo Mozilo — or that he might have received preferential loan terms. Internal Countrywide documents do not contradict that assertion, a congressional source said.
By contrast, Thursday's report by Republican members of the House Committee on Oversight and Government Reform describes a freewheeling program in which Countrywide loan officers gleefully boasted to other VIPs that Mozilo had personally authorized discounted rates and fees.
The report also concludes that Dodd and another senator, Kent Conrad, D-N.D., "appear to have violated" Senate ethics rules related to accepting gifts and loans not generally available to the public.
Bryan DeAngelis, Dodd's press secretary, disputed that conclusion.
"There is no new information from today's report. As the senator said in February, when he made all the documents public related to the refinancings of his 2003 mortgage loans, the Dodds acted properly in their mortgage refinancing negotiations," DeAngelis said. "They did not seek or expect any special rates or terms on their loans and they never received any. Furthermore, as both the materials he provided and an independent report showed, the rates and terms they did negotiate were widely available in the market when they refinanced."
Although the 63-page congressional report includes little new information on Dodd's deals, its release Thursday is more unpleasant news for the Democratic senator, who has been buffeted for months by politically damaging revelations.
On Wednesday, Dodd acknowledged that he had "reluctantly" pressed for a legislative amendment allowing insurer AIG to use government bailout money to pay millions in bonuses. Earlier, he suggested that he was not involved in discussions about permitting the extra money.
He has also faced questions about past real estate deals in Washington, D.C., and Ireland.
But Dodd's political troubles began with the Countrywide deal, and assertions that one of the nation's top banking overseers had received favors from a key player in the subprime mortgage meltdown.
An internal "Loan Policy Analysis" of Dodd's mortgages shows that Countrywide's underwriting rules called for an interest rate of 4.875 percent on both loans, with fees equal to three-eighths of a point on one loan, and a quarter-point on the other. A point is equal to 1 percent of the borrowed amount, and for both mortgages, those up-front fees would have totaled about $2,500.
But the computerized record includes a second column showing what Dodd and his wife, Jackie Clegg, were actually charged. In that column, the points had been eliminated.
According to investigators, Countrywide's computer system required a manual override to implement loan terms more favorable than the company's standard underwriting policy. In Dodd's computer files, in a column labeled "Reason For Override," is the designation: "CMD Approved" — which investigators say is shorthand for approval by a Countrywide managing director. Similar overrides are noted in loan documents for many other VIPs, investigators said.
Last month, Dodd allowed reporters to review more than 100 pages of mortgage documents for his homes in East Haddam and Washington, D.C., but did not permit them to make copies. A spokesman for Dodd said that the Loan Policy Analysis was among the records reporters were permitted to review. But none apparently recognized its potential significance.
Dodd also announced last month that he would refinance the loans with another lender.
The report released Thursday concludes that officials at Countrywide gave special loan deals to thousands of VIPs — from Washington politicians to Hollywood celebrities — as part of an aggressive campaign to curry favor and extend the company's influence.
From U.S. senators to a mayor in Montana and former TV sidekick Ed McMahon, Countrywide gave breaks to the well-connected and the well-known, often coolly discussing in e-mail exchanges whether a customer's political juice justified the discount.
In an internal e-mail, a Countrywide managing director hesitates to cut a break for the mayor of Billings, Mont. "I'm usually in favor of settling on the side of the borrower with political influence," the official wrote, before concluding that the money at stake "has the potential of being a greater number than the Mayor of Billings Montana influence."
But a higher-up, noting the mayor's leadership role with the U.S. Conference of Mayors, approved the discount.
It was an easier call when loan officers learned that an applicant was the brother-in-law of an aide to a senior member of the House Financial Services Committee.
"Put this one in a 'moderate VIP' status," a Countrywide executive instructed in an e-mail. "The Hill staffer is very important to us."
In addition to politicians and government officials, other prominent Countrywide clients given special deals, according to the report, included actors Roy Scheider, Stanley Tucci and Uma Thurman; a deputy in the Malibu, Calif., sheriff's department; and Margaret Warner, a correspondent for "The NewsHour with Jim Lehrer."
Copyright © 2009, The Hartford Courant
Where's the public outcry for Dodd to return the $125,000 he took from AIG? Since taxpayer money had to bail out AIG, doesn't this amount to Dodd taking money right out of your pockets?
ReplyDeleteOn Monday, news broke about AIG paying out upwards of $165 million in bonuses to its executives after receiving $173.3 billion in taxpayer subsidized aid.
ReplyDeleteUpon further investigation, it came to my attention that over the course of the last few years, Senator Chris Dodd has received a bonus of his own... a total of $175,000 in contributions from AIG executives... $103,000 of which went to his futile Presidential campaign.
I was the first to call on Chris Dodd to return those contributions or give them to a Connecticut charity!
Under the "leadership" of Sen. Dodd, the Senate Banking committee placed an amendment in the "stimulus" bill that allowed for banks bailed out with taxpayer money - including A.I.G. - to hand out huge bonuses without any government oversight or regulation.
Where was Senator Dodd? What was he thinking?
Wednesday, Sen. Dodd denied having any involvement in passing that amendment until we turned up the heat here in Connecticut and in Washington and demanded an explanation.
Connecticut voters see which side Sen. Dodd has been on - and it is the side that pays.
If the President says that AIG stole from America, and Chris Dodd took from AIG, does that mean that Chris Dodd indirectly stole from people like you and me?
ReplyDelete“Today’s AP report that AIG bailed out the New York State Democratic Party to the tune of $100,000 just before Governor Paterson intervened on AIG’s behalf raises many troubling questions – it also explains why the unpopular Governor is fundraising so feverishly for Scott Murphy.
ReplyDeleteMurphy still won’t answer whether he supported AIG being allowed to hand out $165 million in executive bonuses, or if he simply did not read the legislation that allowed those bonuses to go forward. Also, just like AIG, Murphy shamefully approved big bonuses for executives whose company lost money.
Now that we have proof AIG funneled $100,000 in campaign cash to the State Democrats, the question needs to be asked: how much of that dirty AIG money has already been spent by the State Democrat Party in support of Scott Murphy’s campaign? When will Scott Murphy call on the State Democratic Party to return that tainted AIG money?”
Nobody seems to care that these same people took over $60 billion in taxpayer money and gave it to banks in socialist European countries as "bail-out" money while at the same time American banks only received about $40 billion from the same fund. This fact should have every American outraged, but they run around yelling and screaming about $100 million in bonuses that Congress voted to approve and the President signed the bill guaranteeing these people their bonuses.
ReplyDeleteWho is fooling who?
courant.com/news/politics/hc-simmons-0320,0,2368505.story
ReplyDeleteCourant.com
Former U.S. Rep Simmons Plans To Raise $5 Million To Unseat Dodd
By CHRISTOPHER KEATING
Capitol Bureau Chief
5:31 PM EDT, March 20, 2009
Republican Rob Simmons said Friday that he believes he will be successful in raising $5 million over the next 20 months in his campaign to unseat U.S. Sen. Christopher Dodd.
Simmons, who will make a formal announcement by April 15, raised $3 million in his last Congressional race in 2006 election when he was member of the U.S. House of Representatives for the 2nd District, which covers about 55 of the state's 169 cities and towns. A battle against Dodd would be the first statewide race for Simmons, who won five terms in the state legislature and three terms in the Congress.
Simmons says he would need to raise "a minimum of $5 million,'' adding, "I certainly intend to do that.''
Over the past week, Democrats have blasted Simmons as a clone of former President George W. Bush and a follower of Bush's economic and foreign policies.
"My answer to that is very simple,'' Simmons told reporters at the state Capitol complex in Hartford. "George Bush didn't get me a cottage in Ireland. He didn't get me a sweetheart loan. So what are we talking about here?''
Simmons noted that he did not agree with everything offered by the Bush administration, including the highly controversial plan to shut down the submarine base in Groton in May 2005.
"We fought the administration on that,'' Simmons said. "We fought the Pentagon on that. And we won.''
While saying that he does not want to run a 20-month election between now and November 2010, Dodd is gearing up for a race. In an interview with The Courant this week, he said flatly that he is running - rejecting speculation that he might decide to retire after five terms in the U.S. Senate. He also told reporters this week that he has no plans to step down as chairman of the powerful Senate Banking committee.
Dodd has been involved in a series of controversies, and the latest Quinnipiac University poll showed that Dodd and Simmons are in a statistical dead heat - with Simmons ahead by 43 percent to 42 percent.
"Even today, in the Legislative Office Building, Democrats have come up to me and said, 'It's time for a change,' '' Simmons said. A Dodd spokesman was not immediately available for comment.
While saying that he does not want to run a 20-month election between now and November 2010, Dodd is gearing up for a race. In an interview with The Courant this week, he said flatly that he is running - rejecting speculation that he might decide to retire after five terms in the U.S. Senate. He also told reporters this week that he has no plans to step down as chairman of the powerful Senate Banking committee.
Dodd has been involved in a series of controversies, and the latest Quinnipiac University poll showed that Dodd and Simmons are in a statistical dead heat - with Simmons ahead by 43 percent to 42 percent.
"Even today, in the Legislative Office Building, Democrats have come up to me and said, 'It's time for a change,' '' Simmons said.
Eric Schultz, a spokesman for the Democratic Senatorial Campaign Committee in Washington, D.C., disputed the statements.
"Make no mistake. Rob Simmons is no moderate,'' Schultz said. "Despite any attempts to whitewash his record, this election will be an opportunity to hold him accountable for it. He was a partner with President Bush to create the failed economic policies that got us to this very point.''
Copyright © 2009, The Hartford Courant
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Former U.S. Rep Simmons Plans To Raise $5 Million To Unseat Dodd
By CHRISTOPHER KEATING
Capitol Bureau Chief
5:31 PM EDT, March 20, 2009
Republican Rob Simmons said Friday that he believes he will be successful in raising $5 million over the next 20 months in his campaign to unseat U.S. Sen. Christopher Dodd.
Simmons, who will make a formal announcement by April 15, raised $3 million in his last Congressional race in 2006 election when he was member of the U.S. House of Representatives for the 2nd District, which covers about 55 of the state's 169 cities and towns. A battle against Dodd would be the first statewide race for Simmons, who won five terms in the state legislature and three terms in the Congress.
Simmons says he would need to raise "a minimum of $5 million,'' adding, "I certainly intend to do that.''
Over the past week, Democrats have blasted Simmons as a clone of former President George W. Bush and a follower of Bush's economic and foreign policies.
"My answer to that is very simple,'' Simmons told reporters at the state Capitol complex in Hartford. "George Bush didn't get me a cottage in Ireland. He didn't get me a sweetheart loan. So what are we talking about here?''
Simmons noted that he did not agree with everything offered by the Bush administration, including the highly controversial plan to shut down the submarine base in Groton in May 2005.
"We fought the administration on that,'' Simmons said. "We fought the Pentagon on that. And we won.''
While saying that he does not want to run a 20-month election between now and November 2010, Dodd is gearing up for a race. In an interview with The Courant this week, he said flatly that he is running - rejecting speculation that he might decide to retire after five terms in the U.S. Senate. He also told reporters this week that he has no plans to step down as chairman of the powerful Senate Banking committee.
Dodd has been involved in a series of controversies, and the latest Quinnipiac University poll showed that Dodd and Simmons are in a statistical dead heat - with Simmons ahead by 43 percent to 42 percent.
"Even today, in the Legislative Office Building, Democrats have come up to me and said, 'It's time for a change,' '' Simmons said. A Dodd spokesman was not immediately available for comment.
While saying that he does not want to run a 20-month election between now and November 2010, Dodd is gearing up for a race. In an interview with The Courant this week, he said flatly that he is running - rejecting speculation that he might decide to retire after five terms in the U.S. Senate. He also told reporters this week that he has no plans to step down as chairman of the powerful Senate Banking committee.
Dodd has been involved in a series of controversies, and the latest Quinnipiac University poll showed that Dodd and Simmons are in a statistical dead heat - with Simmons ahead by 43 percent to 42 percent.
"Even today, in the Legislative Office Building, Democrats have come up to me and said, 'It's time for a change,' '' Simmons said.
Eric Schultz, a spokesman for the Democratic Senatorial Campaign Committee in Washington, D.C., disputed the statements.
"Make no mistake. Rob Simmons is no moderate,'' Schultz said. "Despite any attempts to whitewash his record, this election will be an opportunity to hold him accountable for it. He was a partner with President Bush to create the failed economic policies that got us to this very point.''
Copyright © 2009, The Hartford Courant
Posted by Anonymous to Frank Smith Says NB at March 20, 2009 6:58 PM
"Make no mistake. Rob Simmons is no moderate,'' Schultz said. "Despite any attempts to whitewash his record, this election will be an opportunity to hold him accountable for it. He was a partner with President Bush to create the failed economic policies that got us to this very point.''
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