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ITEM Robert Blumenthal, the Conn attorney general who is now a candidate for Dodd's seat------is on record asking asked Irving Picard, the court-appointed trustee overseeing Madoff's liquidation, for the names of Connecticut-based victims............... including nonprofit organizations.
ITEM TAX EVASION AND MONEY LAUNDERING Irving Picard, who is ID'ing Madoff's assets, unearthed a labyrinth of interrelated international funds, institutions and entities of almost unparalleled complexity and breadth...... and assets and businesses in 11 places overseas. Madoff was running several scams including a Ponzi scheme: tax evasion facilitation, non-profit money laundering, and a proteciton racket for non-profits and wealthy poeple who were funneling income to Madoff to avoid US taxes, and banking laws.
We need to find out if Lieberman and Dodd got Madoffed. Last July these two colluded to cut federal appropriaitons for Airport Security that would have Last July, Dodd proposed an amendment reducing aviation security appropriations by $4.5M that would have caught the undie bomber in favor of firefighter grants (a move that enriched one of Dodd's financuial backers). The federal money Dodd and Lieberman eliminated was specifically intended "for screening operations and for explosives detection systems."
(REFERENCE SOURCE Posted by maggief) Senators Chris Dodd (D-CT), Joe Lieberman (ID-CT), and Thomas Carper (D-DE) authored an amendment to the Department of Homeland Security Appropriations Act that will provide $10 million more in funding for grants to local fire departments for equipment and training. The amendment, which passed unanimously last night, will ensure $390 million in funding is provided for the (non-profit?Assistance to Firefighters (FIRE) grant program next year. (Excerpt) Read more at dodd.senate.gov)
ITEM Connecticut senators, Joe Lieberman and Christopher Dodd's wives both have offshore financial/business interests. Lieberman’s wife, Hadassah, owns stock valued at between $1,001-15,000 in Tyco International Ltd., according to the senator’s 2003 personal financial disclosure form.. Tyco, formerly based in NH, reincorporated in Bermuda in 1997 to legally reduce its US tax burden.
ITEM Dodd’s wife, Jackie Clegg, served on the board of Bermuda-based IPC Holdings Ltd., a reinsurance company controlled by AIG, according to Dodd’s 2003 Senate disclosure form. The company’s offshore location allows a US firm that is a major shareholder in IPC Holdings to avoid paying some federal taxes. The senators say there is no inconsistency between their public positions and their wives’ financial or business dealings.
ITEM March 23, 2009----- Dodd went wobbly when he was asked about his February amendment ratifying hundreds of millions of dollars in bonuses to executives at insurance giant AIG. Dodd has been one of the company’s favorite recipients of campaign contributions. But it turns out that Senator Dodd’s wife has also benefited from past connections to AIG as well.
From 2001-2004, Jackie Clegg Dodd served as an “outside” director of IPC Holdings, Ltd., a Bermuda-based company controlled by AIG. IPC, which provides property casualty catastrophe insurance coverage, was formed in 1993 and currently has a market cap of $1.4 billion and trades on the NASDAQ under the ticker symbol IPCR.
In 2001, in addition to a public offering of 15 million shares of stock that raised $380 million, IPC raised more than $109 million through a simultaneous private placement sale of 5.6 million shares of stock to AIG - giving AIG a 20% stake in IPC. (AIG sold its 13.397 million shares in IPC in August, 2006.) Clegg was compensated for her duties to the company, which was managed by a subsidiary of AIG.
In 2003, according to a proxy statement, Clegg received $12,000 per year and an additional $1,000 for each Directors’ and committee meeting she attended. Clegg served on the Audit and Investment committees during her final year on the board. (SOURCE Real Clear Politics by Kevin Rennie)