Time for Action on AIG

the hill ^ | Today | Bill Press)

[jessduntno]

All of the Dems are “agreeing with Mr. Fwank...” joined by the RINOS...what a circus...the weak kneed limp wristed Repubs need to start firing on the right target...

[RobRoy]

The action to take is to quit bailing out private companies, or when you do, read your danged contract and then shut up when the other side does what the contract allows.

Either these guys (the politicians) are not very bright, or we are being set up for a precident and AIG is a scapegoat.

[jessduntno]

“Either these guys (the politicians) are not very bright, or we are being set up for a precident and AIG is a scapegoat.”

Alas...

[Republic of Texas]

This is one more reason that socialism always fails.

[fight_truth_decay]

"Senator Ron Wyden said on Tuesday that the furor surrounding AIG's bonus payments could have been avoided had the Obama White House and members of Congress simply backed legislation that he and Sen. Olympia Snowe introduced more than a month ago. In an interview with the Huffington Post, the Oregon Democrat noted that during the crafting of the stimulus package, he and his Republican colleague from Maine introduced a provision that would have forced bailout recipients to cap their bonuses at $100,000. Any amount paid above that would have been taxed at 35%. The language made it through the Senate, but during conference committee with the House, it was inexplicably removed."

Dodd attached the amendment. Dodd also took money from AIG ($103,000) in political contributions and “received $854,200 from the T.A.R.P. companies in the 2008 election cycle, including money to his presidential campaign. (Center for Responsive Politics (CRP) report). Obama took in over $4 million from them. Sen. Max Baucus of Montana, chair of the Senate Finance Committee ($279,000) Should we demand that back too? He runs again in 2010. Schumer is outraged! They all are outraged! Investigations, law suites--oh that will cost us BIG!Playing on the ill informed American taxpayer. Inciting death threats to employees of AIG. Saying they should commit suicide!

William Cohen was on the board in 2004. No comment from Mr. Cohen? Chairman Greenberg stated at the time: "I am pleased that Bill Cohen has joined the AIG Board. He brings extraordinary experience and a global perspective in areas that are important to AIG, and we look forward to his contributions to AIG as a Director."

In the grand scheme of things, the retention bonus money that was contracted to be given out compared to the total cost of the TARP (with no strings attached )filtered (washed) to banks here and around the world is chump change.

The Democrats are outraged! outraged I say. Everyone is made to feel outraged!! Class envy rears its ugly head. More smoke screens as they pretend to fix the economy, which is mending little by little on its own on speculation of mark to market accounting hopes etc and another surprise, surprise new construction up (I know it was at the bottom)and unwanted good news.

Notice those that are always acused of wrong doing by shifty politicians never have their say in the "people's court"? I wonder, why is that?

But tonight Obama will tell you all about how he will save "our planet" from the evils of capitalism on Jay Leno while again dodging the press corps.

[RC2]

Don’t let the AIG problem shadow the big problem with the rest of the money. Such as the Billions sent to other countries.

[hermgem]

Obama was fully aware of the score.
What he also realized was a huge blowup brewing straight in his face.
He grasped the enormity of this crisis and went public in a scripted teleprompter performance telling the public of this outrageous AIG behavior of no, not of AIG bailing out foreign companies with these taxpayers stimulants, but of cashing in on bonuses.
Anybody think Obama would have kept quiet about Dodd’s legalization of these bonuses, or Geithner’s knowledge of of AIG bonuses and not informing him?
Obama went with a master stroke by informing the public of this shameful act of AIG cashing in on his economic stimulant.

[norwaypinesavage]

Hey Bill. I hate to tell you this, but the Obama administration is INCOMPETENT. Obama can’t even tie his shoes without instructions on a teleprompter. They can’t even hire people to work on the problem. Don’t expect actual solutions from them.

[PhilipFreneau]

>>>The AIG bonuses were grandfathered in the stimulus bill by Chris Dodd. Chris Dodd received over $100,000 from AIG last year, more than twice as much as the number 2 recipient, Barack 0bama.<<<

Your link is incorrect. The top seven political contributions by AIG for 2008 were to:

Dodd, Chris (D-CT) Senate $103,100
Obama, Barack (D-IL) Senate $101,332
McCain, John (R-AZ) Senate $59,499
Clinton, Hillary (D-NY) Senate $35,965
Baucus, Max (D-MT) Senate $24,750
Romney, Mitt (R) Pres $20,850
Biden, Joseph R Jr (D-DE) Senate $19,975

Democrats received 68% of AIG contributions in 2008.

The top seven contributions from 1989 thru 2008 were to:

Dodd, Chris (D-Conn) $280,238
Bush, George W (R-Texas) $200,560
Schumer, Charles E (D-NY) $111,875
Obama, Barack (D-Ill) $107,332
McCain, John (R-Ariz) $99,249
Baucus, Max (D-Mont) $90,000
Kerry, John (D-Mass) $85,000

[Vaduz]

“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.You can’t blame AIG it was the senate who gave them the bail out money the ONLY people to be blamed are the bone heads in the senate for not reading the bail uot bill in the first place and being suckers for listening to obama’s big rush to get the bill passed oh never mind the small print trust me idiot.

[AndyJackson]

Don’t let the AIG problem shadow the big problem with the rest of the money. Such as the Billions sent to other countries.

You confuse cause and effect. Pay me $20M and I will endorse you sending $200B to the Taliban for all I care. [I wouldn't, these folks long ago sold their souls.]

The whole point of this exercise is personal bonuses. that is why these guys are even in this ripoff scam. You think they actually care about AIG, or GS or CITI depositors? No. It is about the money. Their money.