Posted on 03/17/2009 10:44:34 AM PDT by wrrock
From page H1412 of the Final Stimulus Bill, ``SEC. 111. EXECUTIVE COMPENSATION AND CORPORATE GOVERNANCE:
Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org — According to the Wall Street Journal, Sen. Dodd placed this section into the final stimulus bill, making him responsible, along with Obama, for AIG receiving these bonuses.
(Excerpt) Read more at butasforme.com ...
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“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.
The sheer incompetence of the now failing obama regime is on view for all to see, or at least for those who have eyes to see.
Soon even selective blindness cannot be an excuse, as the stench arising from this corruption will become obvious to everybody, even the steadfast and staunch defenders of the faith in the worship of the Obamination.
Corrupt AND incompetent.
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Wrong. AIG received $152 billion from TARP monies. The above referenced section refers specifically to companies that received TARP monies.
Do a little homework.
Obama does a poor job of feigning righteous indignation. There is nothing righteous in him.
Wrong. Employment contracts ase sacred PRIVATE payroll documents and not Public records no matter how much $$ the Gvmt plew on AIG.
LLS
But, that kind of thinking is what the MSM is promoting. Emotion and passion to trump law.
Fox has been hitting this all day. Prolly be the O’Reilly’s talking points and Beck’s The One Thing tonite.
Madison would not defend contracts that are part and parcel of a scheme of fraud. The real problem here is that the government is unwilling to declare that the business of AIG was a fraudulent Ponzi scheme, as that would require far more wide-ranging remedies beyond merely setting aside the bonus contracts. It might, gasp, actually address the underlying problems . . .
Separately, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org. http://www.foxbusiness.com/story/markets/industries/finance/dodd-cracks-aig---time/
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Please...how do you know that all of the employees covered by these retention contracts are involved in a criminal conspiracy to defraud? And, what was the fraud?
Please detail how the AIG mortgage backed derivative failures are a Ponzi scheme. I bet you can't.
I sincerely doubt that you could prove fraud. Even if you could, you would have to involve these EMPLOYMENT Payroll records in the Fraud. You can’t declare them as instruments of fraud without satisfying the law. I would fight the release of my personal employment compensation information to the public.
The issue with executive bonuses is a smoke screen.
Congress is wholly to blame for this fiasco and they’re trying to pass the buck.
You and I didn’t hire AIG of Citi or anyone else to watch out for where and how our tax dollars got distributed; we hired congress to do that job and THEY screwed up.
DON’T buy in to this BS. Put the blame where it belongs and make real criminals pay.
Now please force schmucky shumer to read THIS in front of the cameras.
AIG has not even been accused of any crimes.
Words mean things, and you should be aware that YOUR credibility, on these threads, depends on using words with some degree of care.
Yes, some people at AIG did some dumb things -— but again, the financial melt down was caused by sub-prime mortgages, sub-prime mortgages were pretty much INVENTED by Democrats.
The AIG problem was created by Credit Default Swaps on bad mortgages.
Credit Default Swaps, which would not be possible, had not the Democrats INVENTED, and REQUIRED the sub prime mortgages, in the first place!
Origination.
This mess was started at mortgage origination!
There are many schemes of fraud that are not Ponzi. I didn’t see “Ponzi” in his post.
Hey—it’s not their fault! No one actually expected them to read and understand a bill before passing it, right? :)
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Look again.
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