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Bonuses allowed by stimulus bill (CNN outs Senate Banking Committee Chairman Chris Dodd)
cnn ^ | 3/18/2009 | Dana Bash and Ted Barrett

Posted on 03/18/2009 4:19:03 AM PDT by tobyhill

Democratic leaders scrambling to strip AIG executives of bonuses are having a hard time answering a key question: Why didn't Congress act to prevent the bonuses in the first place?

"There's always more we can do, and hindsight is 20/20," said Senate Majority Leader Harry Reid Tuesday.

But though some lawmakers did move to prevent bonuses in the stimulus bill last month, the final language actually makes an exception for pre-existing contracts, effectively exempting AIG.

Senate Banking Committee Chairman Chris Dodd, D-Connecticut, who originally proposed the executive compensation provision, said he did not include the exemption clause, which said new rules "shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009."

In an interview with CNN, Dodd denied inserting that exemption at the 11th hour, and insisted he doesn't know how it got there.

"When I wrote the language there was no such language like that," Dodd told CNN Tuesday.

(Excerpt) Read more at cnn.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS: 111th; aig; bho44; bhostimulus; chrisdodd
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To: MuttTheHoople
One brick at a time.
21 posted on 03/18/2009 4:35:51 AM PDT by tobyhill (Obama gets no free pass from Free Republic!)
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To: tobyhill
I do not understand why there is such a fuss. Bama and Congress (the majority) had their lobbyists write the stimulus and budget that paid out far larger bonuses to themselves than what AIG contractually fulfilled.
22 posted on 03/18/2009 4:36:38 AM PDT by Just mythoughts
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To: Just mythoughts
Because Obama and Dodd lied about what they knew and when they found out. The bonuses were given legally but now Americans maybe starting to figure out the hypocrisy of this administration.
23 posted on 03/18/2009 4:40:48 AM PDT by tobyhill ("Hope and Change" is so overrated!)
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To: tobyhill
Nonsense.

You do not know whether each and every one of those individuals met or exceeded the goals of his or her bonus agreement.

This is a Soviet kangaroo court!

And you the presumed conservative stand in the Coliseum hooting and clapping with the rest of the mob.

24 posted on 03/18/2009 4:40:49 AM PDT by angkor
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To: tobyhill
I wonder why it was called the Dodd Amendment then?
25 posted on 03/18/2009 4:41:25 AM PDT by TexasCajun
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To: tobyhill

Sorry Toby. I must have searched just before you posted.


26 posted on 03/18/2009 4:43:01 AM PDT by shove_it (and have a nice day)
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To: TexasCajun

Check out the link in post #8.


27 posted on 03/18/2009 4:43:37 AM PDT by maggief
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To: tobyhill
Dodd and Oamah should return all their AIG “Bonuses”, err AIG funded campaign contributions as well!
28 posted on 03/18/2009 4:43:44 AM PDT by TexasCajun
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To: tobyhill
Guarded applause for CNN ... even a blind squirrel ...yada...


29 posted on 03/18/2009 4:45:29 AM PDT by Daffynition ("Beauty is in the sty of the beholder." ~ Joe 6-pack)
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To: tobyhill
Because Obama and Dodd lied about what they knew and when they found out. The bonuses were given legally but now Americans maybe starting to figure out the hypocrisy of this administration.

I think this will be short lived, another 'crisis' will be created to make hay. I do not have a very high opinion of the collective memory of Americans, because the liberals lie every time they open their mouths.

IF Americans are concerned about bonuses they would have demanded the 'stimulus' ripoff be aborted.

30 posted on 03/18/2009 4:49:50 AM PDT by Just mythoughts
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To: tobyhill
"When I wrote the language there was no such language like that"

ROFLMAO!! It must have been put in the bill by some fairy in the middle of the night, while everyone was asleep. LOL

31 posted on 03/18/2009 4:50:33 AM PDT by Lurking in Kansas (Never argue with an idiot. They drag you down their level, then beat you with experience.)
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To: brwnsuga

It would be nice (for them), but too easily proven false.

Gotta’ be someone who was in office at the time. I’d rather it be B. Frank, but Dodd is the logical choice.


32 posted on 03/18/2009 4:53:49 AM PDT by RangerM (Gotz-ta git me sum of them internets!)
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To: tobyhill

Can you just imagine if this were a Republican President and/or Congress? THAT is the real hypocrisy.


33 posted on 03/18/2009 4:54:56 AM PDT by Toespi
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To: tobyhill

OUT LEADERS ARE A DISGRACE !

Barney, Madoff & Dodd
Three Peas in a Pod

Dodd said he “read every line”?


34 posted on 03/18/2009 4:56:10 AM PDT by slickfree (Tax Payers ... wake up ! - Disgust with AIG managers, Congress and Obama !)
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To: Joe Boucher

“Maybe one they use to bus kids from one side of a large city to another side.”

Could use one of those school buses sitting in a New Orleans bus depot.


35 posted on 03/18/2009 4:58:09 AM PDT by EQAndyBuzz (The most corrupt administration in history. And it is only 8 weeks old.)
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To: tobyhill
"When I wrote the language there was no such language like that," Dodd told CNN Tuesday.

Ah, so Dodd is either a liar, or incompetent, or both. Got it!

36 posted on 03/18/2009 4:58:09 AM PDT by Virginia Ridgerunner (Sarah Palin is a smart missile aimed at the heart of the left!)
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To: Virginia Ridgerunner
From what I hear the language was changed in committee to allow for the bonuses.

Trouble is, that it was done behind closed doors (wonder if the media will go after them like they did to Cheney when he met behind closed doors with oil executives)

Now people who were in the closed door meeting are accusing each other.

37 posted on 03/18/2009 5:04:13 AM PDT by mware (F-R-E-E, that spells free. Free Republic.com baby.)
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To: Virginia Ridgerunner

Looking forward to the tough Wolf Blitzer interview on this:

Blitzer: Senator Dodd, how did the AIG exemption get into the stimulus bill?

Senator Dodd: I dunno, bet it was something the Republicans did to embaress me.

Blitzer: There you have the breaking news on CNN, irrefutable statements that it was the Republicans on the Hill that are to blame for the insertion of a clause the exempted AIG from bonus restraint. Tune in as we dig deeper into this new Republican scandal.


38 posted on 03/18/2009 5:08:29 AM PDT by HD1200
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To: maggief

Mr. Rush Limbaugh is leading the charge on this AIG kerfuffle, he is hitting it out of the park while the whiney Republicrats...will not attack the DRats but will eventually attack Rush.
Never forget the Rhino Senators: Lamar Alexander, Kit Bond, Susan Collins, Lindsey Graham, Judd Gregg, Jon Kyl, Richard Lugar, John McCain, Olympia Snowe, Arlen Specter and George Voinovich.


39 posted on 03/18/2009 5:34:23 AM PDT by iopscusa (El Vaquero. (SC Lowcountry Cowboy))
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To: tobyhill
"When I wrote the language there was no such language like that," Dodd told CNN Tuesday....."

The dog ate my homework!


40 posted on 03/18/2009 7:18:32 AM PDT by Islander7 (If you want to anger conservatives, lie to them. If you want to anger liberals, tell them the truth.)
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