Washington knew AIG was preparing to pay bonuses

phreakwars

phreakwars

New member
Tattoo removal? You'll have to show me the line in the stimulus plan where that was added in or check snopes.

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Old Salt

Old Salt

New member
The CEO of AIG is testifying before Congress today. Should be an interesting watch as the Congressmen and women try to cover their azzes.
 
ImWithStupid

ImWithStupid

New member
Been listening to Fox and Rush again I see.
Media Matters - Fox, Drudge falsely assert Dodd put "bonus protections" into stimulus bill

Debunked.

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Media matters is full of ****. :cool:

Dodd facing fresh political firestorm

Sen. Chris Dodd (D-Conn.) looks like he may be facing a fresh political firestorm.

Dodd just admitted on CNN that he inserted a loophole in the stimulus legislation that allowed million-dollar bonuses to insurance giant AIG to go forward – after previously denying any involvement in writing the controversial provision. .

“We wrote the language in the bill, the deal with bonuses, golden parachutes, excessive executive compensation that was adopted unanimously by the United States Senate in the stimulus bill,” Dodd told CNN’s Wolf Blitzer this afternoon.

“But for that language, there would have been no language to deal with this at all.”
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Dodd facing fresh political firestorm
Debunked!

He also lied in that last line I posted. They took out a bipartisan amendment to put in Dodd's amendment.

Analysis: White House, Dems backpedaling on AIG

Analysis: AIG bonuses have Democrats reeling, unable to blame Bush; Republicans go on offense

Sen. Olympia Snowe, R-Maine, and Ron Wyden, D-Ore., won passage of a provision earlier this year that they said would have prevented the type of payments now at the center of a storm.

It was dropped without explanation in the final compromise on the economic stimulus measure, replaced by a less restrictive set of conditions backed by Sen. Christopher Dodd, D-Conn., and accepted by the White House.
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Analysis: White House, Dems backpedaling on AIG - Yahoo! Finance

The Dumocrats screwed up on this one. I hear that because of this Dodd amendment Freddy and Fannie are going to pay out bonuses too. Funny how Congress and the Administration have known about these bonuses since November, and still put this in that would allow the bonuses to be paid. I'm sure the fact that Obama and Dodd are some of the people who recieved hundreds of thousands in campaign money from AIG, Freddy and Fannie have nothing to do with it. :rolleyes:

 
Old Salt

Old Salt

New member
And knowing about it, it's amazing they have the gonads to make such a big ruckus about the bonuses. :eek:

Oh, that's right. They're ALL politicians first, patriots second.

 
phreakwars

phreakwars

New member
I'm thinking TONS of members of congress were in on it. I understand AIG insures congressional pension funds.

Get this, AIG, basically secured home loans, then turned around and secured HEDGE FUND trades that these loans would fail!! They actually insured greedy hedge funds by saying they too think the loans they gave will fail... WTF!!!!

It's a huge *** consumer ripoff scheme... They frikken get you to buy a house you can't afford, knowing fully well you'll fail, get your home and other savings possessions and securitys, all kinds of ****, to pay people who said they wanted you to fail. I smell more then Chris Dodd behind this, the American people need to know who had their hands in the cookie jar, and decided to screw over taxpayers.. Go ahead and blame Democrats if it makes you feel better, I'll bet the REAL truth is every **** one of them in Washington Rep, Dem, and Ind and every sucker in between.

Frikken CAPITALISM !!

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ImWithStupid

ImWithStupid

New member
Get this, AIG, basically secured home loans, then turned around and secured HEDGE FUND trades that these loans would fail!! They actually insured greedy hedge funds by saying they too think the loans they gave will fail... WTF!!!!
It's a huge *** consumer ripoff scheme... They frikken get you to buy a house you can't afford, knowing fully well you'll fail, get your home and other savings possessions and securitys, all kinds of ****, to pay people who said they wanted you to fail. I smell more then Chris Dodd behind this, the American people need to know who had their hands in the cookie jar, and decided to screw over taxpayers.. Go ahead and blame Democrats if it makes you feel better, I'll bet the REAL truth is every **** one of them in Washington Rep, Dem, and Ind and every sucker in between.

Frikken CAPITALISM !!

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I was mostly blaming Dems for the Dodd amendment. The whole issue goes far and wide, but it's known that it was mostly Dems that obstructed any attempt to reign in Freddy and Fannie, while getting gobs of money from them and all the other players in the mess, Dodd's buddies at Countrywide were some of the biggest movers of bad loans there was.

Also contrary to popular belief, most of the Wall Street exects at Leiman, Goldmand Sachs, Citi, and such are dyed in the wool Dems who also gave big money to Obama and Congressional Dems.

 
eddo

eddo

New member
And knowing about it, it's amazing they have the gonads to make such a big ruckus about the bonuses. :eek:
Oh, that's right. They're ALL politicians first, patriots second.
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They are making a ruckus about the bonuses so people won't notice how AIG sent $62 billion of their bailout money (taxpayer $$$) to other countries

 
ImWithStupid

ImWithStupid

New member
and the plot thickens...

Dodd: Administration sought bonus limit revision

"I'm the one who has led the fight against excessive executive compensation, often over the objections of many," said Dodd, the chairman of the Senate Banking Committee. "I did not want to make any changes to my original Senate-passed amendment, but I did so at the request of administration officials, who gave us no indication that this was in any way related to AIG."

He added: "Let me be clear: I was completely unaware of these AIG bonuses until I learned of them last week."

Dodd did not name the administration officials in his statement, which came a day after he told CNN that he had nothing to do with the change in the provision. In his statement Wednesday, Dodd said he was referring to action to protect AIG.
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Dodd: Administration sought bonus limit revision
Dodd is throwing the White House under the bus to try and save his a$$. There was talk that he was already questionable in getting re-elected before this came to light.

 
snafu

snafu

New member
I think they all knew. Anybody with a lawyer degree knew. Which one of those on capitol hill didn't know that CEO's had a contract with bonus stipulations in them? These contracts were made years ago but Obama pushed these packages down our throats. What happened to transparency? What happened to five days being be able review and vote on ? They knew they couldn't stop it easily because that would have to breach their contracts. Or you could cut the crises bull and let people read, review and vote properly on a properly writtin bill if in fact that is the fix.
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Again they all knew of the contracts. The thing is this it was ALLOWED! ing Democrats are having a hay day. They got their wishing star and by *** they're gonna use it!

 
eddo

eddo

New member
Again they all knew of the contracts. The thing is this it was ALLOWED! ing Democrats are having a hay day. They got their wishing star and by *** they're gonna use it!
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I would have more of an issue with the Gov't saying that the contracts didn't have to be adhered to.

Do we really want the Government deciding which contracts are good and which ones aren't? I don't think so.

Now, had "No bonus payouts" been put in to the language of the deal for AIG to accept the bailout money, that would be different. But that wasn't the case. I don't like that they paid out bonuses, and have to wonder how the **** anybody qualified for a bonus, but it's better than gov't overstepping it's bounds.

****, Barney Frank is all over the media saying how the Federal Government "owns" AIG, and as such they should file a lawsuit to get all the money back.

Holy **** folks. Socialism is here. Now.

Good luck...

 
snafu

snafu

New member
I would have more of an issue with the Gov't saying that the contracts didn't have to be adhered to.
Do we really want the Government deciding which contracts are good and which ones aren't? I don't think so.

Now, had "No bonus payouts" been put in to the language of the deal for AIG to accept the bailout money, that would be different. But that wasn't the case. I don't like that they paid out bonuses, and have to wonder how the **** anybody qualified for a bonus, but it's better than gov't overstepping it's bounds.

****, Barney Frank is all over the media saying how the Federal Government "owns" AIG, and as such they should file a lawsuit to get all the money back.

Holy **** folks. Socialism is here. Now.

Good luck...
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Exactly we can't have the government intervening in pre-written contracts. They felt it had to be done NOW and they knew litigation for circumventing these contracts would take forever.

 
snafu

snafu

New member
As ty as it was those suckers had a legal right to those bonuses.

Hay... any Obama fanatics out there please tell me were the transparcy is? Bunch of ****!

 
Old Salt

Old Salt

New member
They are making a ruckus about the bonuses so people won't notice how AIG sent $62 billion of their bailout money (taxpayer $$$) to other countries
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I haven't really heard anything about this except that money was sent to foreign institutions. My question would be, Was this a contractual obligation such as payout on insurance losses? Or was it just investment. Big difference because payout on insurance losses is one of the reasons they needed the bailout (besides mismanagement :mad: ).
 
RoyalOrleans

RoyalOrleans

New member
I, for one, am a lot more curious as to what Barney Frank's boytoy was up to at Fannie Mae while he was busy protecting that institution from President George Bush's attempts at reform, than I am in sending the New York Attorney general on a witch hunt for executives who received bonus payments pursuant to a contract.
 
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