Then its the government's fault. Have Dodd and Frank appear before a House subcommittee.
no problem, write out the checks for $9,999.99 each and call each a separate bonus (showing up on time bonus, leaving late bonus etc..). that way, it's not one huge bonus for one thing..tax is bypassed..
Article I, Section 9, paragraph 3: “No Bill of Attainder or ex post facto Law will be passed.”
“Bills of attainder, ex post facto laws, and laws impairing the obligations of contracts, are contrary to the first principles of the social compact, and to every principle of sound legislation. ... The sober people of America are weary of the fluctuating policy which has directed the public councils. They have seen with regret and indignation that sudden changes and legislative interferences, in cases affecting personal rights, become jobs in the hands of enterprising and influential speculators, and snares to the more-industrious and less-informed part of the community.” James Madison, Federalist Number 44, 1788.
From Wikipedia:
A 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. The United States Constitution forbids both the federal and state governments to enact bills of attainder, in Article 1, Sections 9 and 10, respectively. It was considered an excess or abuse of the British monarchy and Parliament. They were abolished in the United Kingdom in 1870.[1]
Smokescreen.
Dodd should have shown the door long ago..Let’s see if Ct. can wake up in 2010
I know honor is a foreign concept to Dodd and Frank but that is where we stand, fulfill the contracts and move on.
The Constitution of the United States, Article I, Section 9, paragraph 3 provides that: “No Bill of Attainder or ex post facto Law will be passed.”
“The Bill of Attainder Clause was intended not as a narrow, technical (and therefore soon to be outmoded) prohibition, but rather as an implementation of the separation of powers, a general safeguard against legislative exercise of the judicial function or more simply - trial by legislature.” U.S. v. Brown, 381 U.S. 437, 440 (1965).
“These clauses of the Constitution are not of the broad, general nature of the Due Process Clause, but refer to rather precise legal terms which had a meaning under English law at the time the Constitution was adopted. A bill of attainder was a legislative act that singled out one or more persons and imposed punishment on them, without benefit of trial. Such actions were regarded as odious by the framers of the Constitution because it was the traditional role of a court, judging an individual case, to impose punishment.” William H. Rehnquist, The Supreme Court, page 166.
“Bills of attainder, ex post facto laws, and laws impairing the obligations of contracts, are contrary to the first principles of the social compact, and to every principle of sound legislation. ... The sober people of America are weary of the fluctuating policy which has directed the public councils. They have seen with regret and indignation that sudden changes and legislative interferences, in cases affecting personal rights, become jobs in the hands of enterprising and influential speculators, and snares to the more-industrious and less-informed part of the community.” James Madison, Federalist Number 44, 1788.
Maybe Chris can explain why over $90B is going to Euro banks?
We like your corporation: here, have $100B.
We don't like your corporation: we've going to create a special tax, just for you. You owe us $100B.
All captains of industry will gleefully support whomever is in power, or else go to Galt's Gulch.
Of course, when you don't attach any strings, or read any bills, isn't this what you get?
Have we found our first tenants for the FEMA crisis living quarters? They used to be called gulags when the governments didn't care if you knew the truth.
If they want to do a “Claw-Back” on scoundrels, where is the disgorgement of Frank, Dodd, Raines, Gorelick etc. the orgininators and enablers of the bad paper that AIG then turned into instruments?
I have no problem picturing this crafty populist as a brown-shirt standing in his office batting around a balloon globe of the world all by himself.
Notice how he doesn't suggest much anymore, he dictates. And if someone or some entity doesn't take to his dictates, he threatens to "take care of them" on his show. His arrogance and dictatorial leanings will be his undoing one of these days.
Leni
Our current Socialist Government failed to do their due diligence and understand that contractual obligation that AIG had with its people.
This is not AIG’s fault or problem,it is the Obama Administrations for being the morons that they are.........
Okay. I can agree to that!
The US Government owns 80%.
I therefore demand the immediate resignation of the entire "Board of Directors" (Senate & House Finacial Services Commitees [or equivalant]) as well as the Chief Executive Officer (the President) and his deputies (the Chairman of the Federal Reserve and the Secretary of the Treasury) for failure to exert due dilligence in the oversight of AIG. Failure to resign within 3 days will result in firing and presecution under privisions of Sarbannes / Oxley, RICO, and other pertinent Chapters of the US Code.
Oh well, I can dream right?
Was? Träumen verboten?
Verdammt.
Another Congressional dog and pony show to keep the idiot voter’s eyes off Captain Zero.
What’s a “tact”? I know what a “tack” is, when you’re talking about a course of action. I also remember when news organizations had competent proofreaders, and did not merely rely on spellcheck.
Sounds like a Bill of Attainder to me, expressly forbidden by the U.S. Constitution.
"We were obligated to pay those bonuses because we signed contracts with those people. Perhaps because politicians break promises all the time they don't understand that a contract is a legally binding agreement. For example, if a President holds a campaign rally in Chicago and owes that city $2.1M, he's legally obligated to pay it. He can't fluff it off like he can all his campaign promises.
The AIG 'scrrrrrreaammmm' is just is a continuation of what is an abidication of duty which should be; to identify and punish the real authors of evil here.
(OMG. . .as I watch Fox News; see it is 'Dear Leader' time, again. . .How many dollars does Obama eat, for his daily 'channel time'? Well, it's over; thankfully; it was short. . .but still costly, no doubt.)