Forked TONGUE Senator DODD

[joe g]

Our crook Senator Dodd who is in trouble here in Ct for special deals on mortgages here and now in Ireland is trying to B/S us again.
Today he spoke put about the AIG bonus's and how awful they are.

WHAT HE DID NOT TELL YOU ws that on Feb. 9.2009 he amended the bailout package to ALLOW BONUS's for bailed out company's to inable them to keep important people, THE SAME PEOPLE WHO CAUSED THIS MESS!!
NOT ONE BUTT KISSING LIBERAL TV station or reporter called him on this.

If a simple person like me can know this info--they must know it and choose not to confront him.
Join the DUMP DODD 2010 campaign
joeg

[cobra de capell]

Looks like good old hypocrite Christopher Dodd went beyond just being negligent:

Congressional lawmakers are scrambling to think up creative ways to recover at least some of the $165 million in bonuses that bailed-out American International Group is paying executives -- but they could be their own worst enemy. Though Sen. Chris Dodd, D-Conn., is among those leading the charge on retrieving the bonuses, an amendment he added to the $787 billion stimulus bill last month created a roadblock to getting that money back.

Dodd has got to go....

[joe g]

He is loosing ground here in ct. We actually have Rob Simmons who announced he will run against him. But in this liberal state the libs will keep reelecting the bum--
i jsut dont get it!!
joeg

[mdmull]

He also received more campaign money from AIG than anyone else. #2 was BHO.

[Cobrabill]

CDC-Dudd needed to go 20+ years ago.

[Ron61]

Bill,

Most of the people in Congress needed to go 20 years ago. Kennedy won't give up his seat and he is to sick to even show up. Mandatory term limits for Congress are the only way to get rid of these dinosaurs and the people are going to have to do it as they sure won't vote to limit their time at the public feeding trough.

Ron

[Fred Douglass]

....I'll see yer and raise ya a Bawnie Fwonk, a Kennideeeee and a Kerry!

[Ron61]

Why not just deduct all of the bonus money they paid out from their next big hand out? They pay out $70 Million, then take $70 million from the next bail out package.

Ron

[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."

[Ron61]

(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.

Glad to see that you only get information from completely unbiased and reliable sources. Why aren't you busy defending this dam bill since you worship that POS so much?

Obama Requires YOU to SERVE, H.R.1388, "The Give Act" to reform the National Service

Ron

[427 S/O]

Posted by c-b...

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."


We buy kool aid by the case,

Rgs.

c-b & Dodd

[SP01715]

Cobra(space)Bill,

Nice to see you are cherry picking stories that don't provide all the information. Read the bolded portion. That is what people are pissed about...

FOXBusiness Related ContentREAD: Letter From New York AG Andrew Cuomo to Rep. Barney Frank
Some Details About AIG's Bonuses Are Revealed
Senate Banking Committee Chairman Chris Dodd (D-Conn.) on Monday night floated the idea of taxing American International Group (AIG) 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.
Dodd’s original amendment did not include that exemption, and the Connecticut Senator denied inserting the provision.

“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.”

“Because of negotiations with the Treasury Department and the bill Conferees, several modifications were made,” Dodd Spokesperson Kate Szostak in a response to FOX Business.

The provision excluding those bonus payments made it into the final version of the bill, and is law.

Separately, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org. Also, one of AIG Financial Products’ largest offices is based in Connecticut.

“Senator Dodd was completely unaware of these AIG bonuses until he learned of them in the past few days,” wrote Szostak. To suggest that the bonuses affecting AIG had any effect on Senator Dodd’s action is categorically false.”

Dodd Amendment Rules

Crack down on bonuses, retention awards and incentive compensation: Bonuses can only be paid in the form of long-term restricted stock, equal to no greater than 1/3 of total annual compensation, and will vest only when taxpayer funds are repaid. There is an exception for contractually obligated bonuses agreed on before Feb. 11, 2009.
For institutions that received assistance totaling less than $25 million, the bonus restriction applies to the highest compensated employee; $25 million to $250 million, applies to the top five employees; $250 million to $500 million, applies to the senior executive officers and the next top 10 employees; and more than $500 million applies to the senior executive officers and the next top 20 employees (or such higher number as the Secretary determines is in the public interest).
For the latest TARP news, check out FOXBusiness.com’s Where’s My Money blog.

[cobra bill]

I know exactly what Foux News is saying, so is Rush limballs, they are lying! it's not true, and yes the article came from the Wall street journal, but who owns it? that right kiddies, your ole buddy Rupert Murdock.

[RAZOR]

Originally Posted by cobra bill

I know exactly what Foux News is saying, so is Rush limballs, they are lying! it's not true, and yes the article came from the Wall street journal, but who owns it? that right kiddies, your ole buddy Rupert Murdock.

That right its all lies I tell you, don't pay attention to the man behind the curtain, the great Oz has spoken, its a conspiracy, but the ocean is going to swallow the east coast, Al Gore said so. The vast right wing conspiracy is lying I tell you. The sky is falling, damn those conservatives they are lying. Remember what Dan Rather told us dont pay attention to the facts what I'm telling you is true even if I can't prove it.

[SP01715]

I know the truth and liberalism don't fit well together, but this story is being reported on several different news outlets. Maybe your favorite MSNBC is avoiding it, but it is all over the internet and broadcast news.

[mdmull]

Even CNN just covered it

[427 S/O]

Let me get this straight, C-B post an article by the WSJ proclaiming absolute truth, then turns around and says the WSJ is a bunch of liars?. Anybody understand that?.

[cobra bill]

Oh come on Perry I know you are smarter than that, I was pointing out the inconsistency of Fox news reporting this as some breaking news story, when it happened in February, and it was reported by one of Rupert's many so called news outlets.

[SP01715]

Originally Posted by cobra bill

Oh come on Perry I know you are smarter than that, I was pointing out the inconsistency of Fox news reporting this as some breaking news story, when it happened in February, and it was reported by one of Rupert's many so called news outlets.

You thought you could throw out a story that left out the fact that Dodd wrote into the bailout that existing contracts were exempt and thought we would take it as fact. Come now, we are smarter than that...

[cobra bill]

No, you didn't research it, stop buying into the lies.


Fox, Drudge falsely assert Dodd put "bonus protections" into stimulus bill
Summary:
A FoxBusiness.com article reporting on an amendment that Sen. Chris Dodd added to the recovery bill featured the false headline -- subsequently posted by the Drudge Report -- "Amid AIG Furor, Dodd Tries to Undo Bonus Protections He Put In." Additionally, Fox News' Trace Gallagher falsely claimed that Dodd "created a loophole that allowed AIG to give out these bonuses." Rush Limbaugh also falsely asserted that Dodd's amendment provided an "exemption from any limits on" contractual bonuses agreed to before February 11. In fact, Dodd's amendment actually limited bonuses; it did not add "protection" for bonuses or "create a loophole" without which the bonuses could not be paid.

http://mediamatters.org/