Forked TONGUE Senator DODD

[Dan40]

Originally Posted by cobra bill

Once more you guys are getting your information from the republican Pravda, it's all lies and one day maybe, you guys will open your eyes and quit drinking the cool aid.



(From THE WALL STREET JOURNAL)
By Deborah Solomon and Mark Maremont
WASHINGTON -- The giant stimulus package includes a last-minute, little-noticed addition that restricts bonuses for top earners at firms receiving federal cash -- including those that already received it -- more severely than the Obama administration's previous pay limits.

The most stringent pay restriction would bar any company receiving funds from paying top earners bonuses equal to more than one-third of their total annual compensation. That could severely crimp pay packages at big banks, where top officials commonly get relatively modest salaries but often huge bonuses.

As word spread Friday about the new and retroactive limit -- inserted by Democratic Sen. Christopher Dodd of Connecticut -- so did consternation on Wall Street and in the Obama administration, which opposed it.

The administration is concerned the rules will prompt a wave of banks to return the government's money and forgo future assistance, undermining the aid program's effectiveness. Both Treasury Secretary Timothy Geithner and Lawrence Summers, who heads the National Economic Council, had called Sen. Dodd and asked him to reconsider, these people said.

In contrast to executive-pay rules announced recently by the White House, those in the stimulus bill -- which cleared the House Friday afternoon and was headed for a Senate vote -- wouldn't apply just to top executives but could reach into the ranks of highly paid traders and department heads. The rules would apply to any company that has received aid under the bailout program since it began in October.

The number of a company's employees affected increases on a sliding scale, depending how much federal money the firm receives. More than 350 banks have gotten funds from the government's formal investment program. In addition, the government has proffered aid to insurer American International Group Inc., to auto makers General Motors Corp. and Chrysler LLC, and to Citigroup Inc. and Bank of America Corp.

In speaking to Mr. Dodd, Messrs. Geithner and Summers also expressed concern over another provision he inserted that lets banks and other aid recipients pay back aid more easily. It says banks would no longer have to raise new private capital to replace the government's funds in order to repay it. Some government officials fear the result could be that banks lose their capital cushions and thus become even more wary of lending.

Sen. Dodd said in a statement that "the decisions of certain Wall Street executives to enrich themselves at the expense of taxpayers have seriously undermined public confidence in efforts to stabilize the economy. . . . With vigorous oversight by the Treasury Department and by Congress, these tough new rules will help ensure that taxpayer dollars no longer effectively subsidize lavish Wall Street bonuses."

With so much riding on the stimulus bill, President Barack Obama is expected to sign it despite his concerns. The pay-limit language in the stimulus bill is vague and open to interpretation. It's not clear, for example, whether the value of stock options should be included in the calculation of total compensation. The provision could be altered somewhat by the Treasury, which would be in charge of implementing the regulations.

A White House spokesman said, "As he has already expressed, the President shares a deep concern about excessive executive compensation at financial firms that are receiving extraordinary assistance from American taxpayers. He looks forward to working with Congress to responsibly address this issue. Members of the administration contacted members of Congress with suggested technical changes toward that end."

If I read this right according to the WSJ and YOU. The executive bonusi are limited.

Fox News aside, Why did CNN, ABC, CBS, And NBC cover today's Congressional Hearing and what was the subject of today's exercise?

Its very strange.

Dan

[cobra bill]

I'm assuming because its news worthy that the CEO of AIG is in the hot seat.

[427 S/O]

You failed to link the true FOX article............


“I can't point a finger at someone who was responsible for putting those dates in,” Dodd told FOX. “I can tell you this much, when my language left the senate, it did not include it. When it came back, it did.”

BS, how hard would that be..........more side stepping from the largest single recipient of campaign donations during the 2008 election cycle with $103,100 from AIG

http://www.foxbusiness.com/story/mar...ks-aig---time/

[cobra bill]

Hey I will be the first one say that campaign financing is corrupt, if you look back through the history of it, corporations tend to give more to those politicians that are either a sure bet on winning, or they are from the state that the business resides in, either way it all stems back from a supreme court ruling that gave corporations personhood, this is what opened the flood gates to this form of corruption.

As for not posting the link to the true fox article, wasn't that what started this thread?

[joe g]

Did we all forget that Dodd was the head of the banking commitee and let this mess happen under HIS WATCH! And that idiot Franks. And now they want to blame everyone else.
Dodd is in big trouble here in ct we are done wth his lies!!

cobra bill i agree rush is over the top, but you must agree your liberal mouths are no different. Neither one cars about us!
joeg

[Fred Douglass]

...it's "Bawnie Fwonk"......

[427 S/O]

I saw Greta interviewing him last night and he showed no remorse whatsoever......Politicians are so entrenched in their well protected little world, they try justifying every wrong with a bs explanation and dismiss 'us' as too dumb to know better. If there was ever a reason or right time to send these contempt's packing, this is it. Including some of mine.



http://www.foxnews.com/politics/firs...ckage/100days/

[joe g]

Dodd caught in lie's again!!! When will the libs learn he is a crook!!

FLIP FLOP
joeg

[SP01715]

Dodd admited yesterday to writing the language in the bill protecting existing contracts. Well C-B, no further comment?

[joe g]

C-B is quiet at last--for a few minutes--- he could not edit out Dodds lying butt this time to make it seem it was a republcain standing there in the morning saying HE KNEW nothing then after all THE HEAT FROM FOX and CNN he stood there like a deer in headlights and squirmed his way thru the bull---
HE NEEDS TO GO!!! AND what the heck is KENNEDY doing-- god bless him but he is dying give up your seat!!! And BARNEY ANOTHER LIBERAL LYING B--tard
joeg

[SP01715]

They just played Dodd sound bites saying he had nothing to do with it, then again from yesterday saying he was the one responsible. You are right he needs to go, but being a liberal he will stay with the rest of the crooks.

[427 S/O]

C-B's claim to fame, is just stirring the pot, that is until he burns his hand.

[cobra bill]

OUCH!!! man that burned Ha! OK turns out He did change it, he was directed by Guitner, not sure on the spelling, to put the loophole in the language, so I guess as Perry said, I got burned, I will man up and take it, I was wrong!

[VRM]

Cobra Bill,

Dodd has had a lot of questionable deals lately - I don't like to assume the worst about someone until I have enough experience with them, but his track record has indicated that he is not to be trusted.

Steve

[Dan40]

Originally Posted by VRM

Cobra Bill,

Dodd has had a lot of questionable deals lately - I don't like to assume the worst about someone until I have enough experience with them, but his track record has indicated that he is not to be trusted.

Steve

Don't forget Geitner, "The man with the plan that has no plan!" No staff either.

Or Hillary, the Sec. of State who's only claim to fame is having an unfaithful husband.

Or the Chief Executive, that has NO Chief experience and NO executive experience.

The entire administrative 'team' is in WAY over their heads, and being puppeted by corrupt Congressmen.

And no one in DC seems to recall a document called the CONSTITUTION.

As another poster always says, We are so screwed!

Dan

[VRM]

Originally Posted by Dan40

Don't forget Geitner, "The man with the plan that has no plan!" No staff either.

Or Hillary, the Sec. of State who's only claim to fame is having an unfaithful husband.

Or the Chief Executive, that has NO Chief experience and NO executive experience.

The entire administrative 'team' is in WAY over their heads, and being puppeted by corrupt Congressmen.

And no one in DC seems to recall a document called the CONSTITUTION.

As another poster always says, We are so screwed!

Dan

We have been screwed for years! The problem we keep having is that the party faithful from one group or another put on rose coloured glasses for 4 years every time one of their own takes the White House. The Republicans have been blind for the last 8 years - now it is the DNCs turn.

[427 S/O]

Dan, Laura Ingram was probably right when she said Geithner couldn't find a democrat that didn't have a tax problem.....

[joe g]

And i live in Ct. Dodds home when he is not living in IOWA- the talk show's here are killing him, BUT OUR LIBERAL state will relect the crook. we are now seeing adds from Dodd telling us all the things he has done for us in CT-- the few days a year he is actually here. He did a confernce call to the local reporters yesterday- trying to squirm and blame everyone else in the Whitehouse!!
DUMP DODD 2010
joeg

[joe g]

P/S His father was a Senator also and was thrown out of Congress for being crooked.
I guess its just in the family jeans!!
joeg

[ccomt]

Our corrupt politicians are good at creating laws that impact everyone else -- I think it's time for them to enact a special one of their own. They need to pass a new law requiring ALL politicians, regardless of party affiliation, to donate to a LEGITIMATE charity every dollar they received from AIG over the last five years. They should also be required to scan the receipt from the charity and post it on a government web site where we can view it.

I'm certain that Congress would agree that the "Bill of Attainder" doesn't apply to them either!

The HONEST politicians good voluntarily make their charitable donations right now without waiting for the new law!! Who wants to go first?

Anyone good in statistics and probability want to estimate the odds of that happening?