Dodd admits "I was responsible for AIG bonus loophole"

[NewHampshire Black Bears]

Well, it's ABSOLUTELY a SURE thing, (and that is), that Rush BIMBO will keep BLABBING even MORE, and THAT is ALWAYS a BAD thing for the FRACTURED GOP !

Is the OXY-CONTIN man,...........NEXT on Megan McCains..HIT list ?

 

[Seatacus]

Well, it's ABSOLUTELY a SURE thing, (and that is), that Rush BIMBO will keep BLABBING even MORE, and THAT is ALWAYS a BAD thing for the FRACTURED GOP !

Is the OXY-CONTIN man,...........NEXT on Megan McCains..HIT list ?

Bears- beware that the MSM may soon not have a choice but to report the facts of this train wreck of an administration. If that happens you can bet they out blab Rush........

As far as Megan McCain, she is just getting her Plus-sized 15 minutes of fame. They are letting her have it only because she chooses to bash Republicans.

 

[dapoes]

Now Obama is trying to stop the fervid backlash against him and his administration for this AIG bonus boondoggle.

CNN Analysis: Obama's 'blame me' means 'move on'

Stephen Hayes, a CNN contributor and columnist for the conservative magazine The Weekly Standard, also wrote off Obama's words as "phony."

"He tried to take responsibility for it, but then he followed that up immediately by saying, look, we didn't write these contracts. I didn't create this mess. So, it felt a little bit like phony responsibility to me," he said.

Obama's remarks followed denials from Dodd that he had anything to do with the controversy and assurances from Obama's economic advisers that they had no control over AIG's bonuses.

Now, Treasury Secretary Timothy Geithner is facing calls from some Republicans to step down, and the Obama administration is left with yet another bump on the road to restoring public confidence in government.

 

[freedom]

i have no problem with the way obama has been handling events ... as long as people such as myself continue to support him he will have few if any troubles ...

 

[cltrat]

Well, it's ABSOLUTELY a SURE thing, (and that is), that Rush BIMBO will keep BLABBING even MORE, and THAT is ALWAYS a BAD thing for the FRACTURED GOP !

Is the OXY-CONTIN man,...........NEXT on Megan McCains..HIT list ?

is that the best you can give us when you hero and his cronies are looking like buffoons?

 

[eolesen]

Limbo is no more of a spokesperson for conservatives than Michael Moooooer, Rosie O'Doughnut or Dick Dreyfuss are for liberals.

Presidential recall sounds better and better...

 

[NewHampshire Black Bears]

SO, does THIS mean ALL the Big Wigs in the GOP will "rally around"..Michael Steele now ???

Besides, after all the "back and forth", how much $$$$ that the AIGers actually keep, will be the "bottom line" !!!!

 

[delldude]

SO, does THIS mean ALL the Big Wigs in the GOP will "rally around"..Michael Steele now ???

Besides, after all the "back and forth", how much $$$$ that the AIGers actually keep, will be the "bottom line" !!!!

SO, does THIS mean ALL the Big Wigs in the GOP will "rally around"..Michael Steele now ???



Naw....they'll rally around Obama as his castle starts to crumble as Dem's Bush out on him......
re-elections for those seats you always crow about are looking shaky dude....

 

[delldude]

They make big press out of this AIG chump change to hope you forgot that Obama gave AIG 30 Billion a few weeks ago and should have known then...

Then the idiots in Congress waste two days writing law for this......what a ****** up country we have.

 

[dapoes]

How about that comment from Senator Charles Grassley, the top Republican on the Senate finance
committee:

"The first thing that would make me feel a little bit better toward them (is] if they'd follow the Japanese example and come before the American people and take that deep bow and say, I'm sorry, and then do one of two things: resign or go commit suicide," Mr Grassley said.

How about they be fair about it and give the "resign or go commit suicide" opportunity to all those responsible for letting it happen in the first place. Everyone who signed off on the (must have or die) stimulus bill all the way up to the president himself!

Thats change we can believe in.

 

[southwind]

Well, it's ABSOLUTELY a SURE thing, (and that is), that Rush BIMBO will keep BLABBING even MORE, and THAT is ALWAYS a BAD thing for the FRACTURED GOP !

Is the OXY-CONTIN man,...........NEXT on Megan McCains..HIT list ?

Sorry NHBB, but this is not about the GOP, but being the "Good Demorat" that you are, you doing your part in trying to divert attention from the railroading of a country ! :blink:

Dems are on the brink of "IMPLODING"!

 

[novaqt]

This afternoon on "Breaking New" on CNBC, Timothy Geithner admitted he asked Dodd to put said loophole protecting retention bonuses in the Bill. Now that the House has passed a 90% tax on AIG Retention bonuses, this will set a precedence for the government to get involved with your pay and benefits. I think that AIG's new CEO, who is only being paid $1.00 this year, should dump the entire derivatives division in UK which is the division that caused this mess. The rest of the Company is solvent apparently.

 

[dapoes]

Ooopsy! :huh:

Yanking AIG bonuses to cost NYC $3 million in tax revs

NEW YORK (Reuters) - New York City could lose $3 million in tax revenues if insurer American International Group's workers are forced to hand back their bonuses, the city comptroller said on Thursday.

Wall Street is the taproot of New York City's economy and its tax revenues could sink even further if other investment banks also must wrest bonuses back from their workers.

A 90 percent tax on bonuses for people earning more than $250,000 at companies that got federal bailout funds was approved by the U.S. House of Representatives on Thursday.

 

[Garfield1966]

I have not looked into it but my understanding is that the 90% bill passed by Congress is not legal and will probably be struck down.

I heard a lawyer explain it this way:

If today I steal something and tomorrow Congress passes a law that stealing is illegal, the law cannot be applied retroactively. The law can only be enforced from the day it is passed and beyond.

It will be interesting to see what happens.

 

[dapoes]

Why Congress Can’t Tax AIG Bonuses??

Its called "Bill of Attainder"

Those Congressional members who continue to feign outrage over the AIG bonus fiasco, should take a moment to actually read the United States Constitution. As various Representatives and Senators discuss ways to retroactively legislate a “taxâ€￾ on those who received a bonus, one can only imagine what unconstitutional legislation will emerge from the hallowed halls of Congress. I have three words for those members considering this: “Bill of Attainderâ€￾.

Article I, Section 9, paragraph 3 of the United States Constitution explicitly provides :

“No Bill of Attainder or ex post facto Law will be passed.â€￾

In U.S. v. Brown, 381 U.s. 437 (1965), the Supreme Court held that the Bill of Attainder clause is to be liberally construed in light of its purpose to prevent legislative exercise of judicial power and to prevent legislative punishment of designated persons or group. Any statute which attempts to retroactively tax named individuals, or persons or groups who received bonuses, would constitute a Bill of Attainder and be violative of the United States Constitution.