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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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1 posted on 03/18/2009 4:19:04 AM PDT by tobyhill
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To: tobyhill

They’re looking for a fall guy.


2 posted on 03/18/2009 4:21:18 AM PDT by RangerM (Gotz-ta git me sum of them internets!)
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To: tobyhill
after three days of the rest of the world knowing......
3 posted on 03/18/2009 4:21:34 AM PDT by Doogle (USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: tobyhill

Dodd is just one of the dems I’d personally drive the bus if they were lined up so I sould run them over.
Kennedy, Schumer, Peosi, Dodd, and so many more. Just line them up and have anyone run the lot ofver with a very large bus.
Maybe one they use to bus kids from one side of a large city to another side.


4 posted on 03/18/2009 4:22:09 AM PDT by Joe Boucher (An enemy of Islam)
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To: tobyhill

There’s blood in the water.

The republicans should turn loose the sharks!


5 posted on 03/18/2009 4:22:54 AM PDT by KoRn
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To: KoRn

Testiclese, the republican god of war, is AWOL.


6 posted on 03/18/2009 4:24:55 AM PDT by xcamel (The urge to save humanity is always a false front for the urge to rule it. - H. L. Mencken)
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To: KoRn
Eric Cantor is out in front of this.

Zero had the bill for four days

He promised he would read read line by line.

Someone ask the dope Gibbs did he?

7 posted on 03/18/2009 4:26:03 AM PDT by scooby321
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To: tobyhill

This is getting good! More popcorn!

http://www.freerepublic.com/focus/f-news/2208929/posts

The dishonest “Blame Dodd” scheme from Treasury officials -(or Dems eating your own)
salon.com ^ | March 17 2009 | Glenn Greenwald


8 posted on 03/18/2009 4:26:40 AM PDT by maggief
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To: tobyhill

AIG bonuses = hysterical non-issue to stir up the humors of the hoi polloi when the real issue is $3 TRILLION in Socialist bailouts.


9 posted on 03/18/2009 4:26:58 AM PDT by angkor
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To: tobyhill

Do ya think they might take the time to read the next porkulus bill, and there will be one. The lemmings in Congress are getting their come-uppins!


10 posted on 03/18/2009 4:27:03 AM PDT by Road Warrior ‘04 (I'll miss President Bush greatly! Palin in 2012!)
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To: tobyhill
I posted this on another thread

Watched several interviews with McConnell yesterday about the AIG bonuses. In each he managed to give his chortel (pat. pend.) in the first couple of lines, but NEVER, EVER mentioned Dodd!!!

What a jerk!

11 posted on 03/18/2009 4:27:16 AM PDT by Roccus (The Capitol, the White House, the Court house.....................America's Axis of Evil!)
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To: Doogle

The congress and the president should have never been involved in any of this mess in the first place. Period.

All of this crisis BS, bailouts, stimulus, ominbus has reached my level of patience. We’re talking, yelling, and protesting...there is no way to redress.

So, I go back to a very basic truth. Chapter 11 Backruptcy is how 99% of this should have been handled.


12 posted on 03/18/2009 4:27:33 AM PDT by EBH (The world is a balance between good & evil, your next choice will tip the scale.)
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To: KoRn

“The republicans should turn loose the sharks!”

What sharks?


13 posted on 03/18/2009 4:27:56 AM PDT by maggief
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To: tobyhill

Implausible deniability on the part of Dodd... certainly his aides are all hard at work shredding all incrementing documents


14 posted on 03/18/2009 4:28:17 AM PDT by VRWCTexan (History has a long memory - but still repeats itself)
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To: tobyhill

We’re just talking about 1/10 of 1% of the total Nationalization Package.


15 posted on 03/18/2009 4:32:52 AM PDT by MuttTheHoople
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To: KoRn
The republicans should turn loose the sharks!

Sorry, the pubbies only have guppies. Spineless ones, at that!

16 posted on 03/18/2009 4:33:29 AM PDT by Road Warrior ‘04 (I'll miss President Bush greatly! Palin in 2012!)
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To: RangerM

Bush?


17 posted on 03/18/2009 4:33:59 AM PDT by brwnsuga (Proud, Black, Sexy Conservative!!! I am no LEMMING!)
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To: tobyhill

Six (6) separate FR threads on this hysterical non-issue in the last 1 hour!

Six out of 19 threads.

Which is about 1/3 or 33 percent.

Sleazy Harry Reid is the now the boss of America’s formerly largest insurance company.

A pittance in oontractual raises versus the new Socialist agenda! Bravo America! Priorities totally askew once again!


18 posted on 03/18/2009 4:34:45 AM PDT by angkor
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To: angkor
It's a small piece of the whole puzzle. Just chipping away the veneer one panel at a time in hopes to finally show America the corruption they elected.
19 posted on 03/18/2009 4:34:53 AM PDT by tobyhill (Obama gets no free pass from Free Republic!)
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To: tobyhill

Yeah but you still voted for and Obummer signed it.

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


20 posted on 03/18/2009 4:35:15 AM PDT by linn37 (a mortgage in every pot)
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