On Fox News Business, the story, “Amid AIG Furor, Dodd Tries to Undo Bonus Protections He Put In,” is chock full of interesting information about Senator Christopher Dodd and AIG.
The first interesting point is:
“While the Senate constructed the $787 billion stimulus last month, Dodd unexpectedly added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009,” which exempts the very AIG bonuses Dodd and others are seeking to tax. The amendment is in the final version and is law.”
“Also, Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org.”
So, Democrats are shouting from the highest mountains chastising AIG for paying bonuses that contractually, legally, they must pay that the Democrats wrote the law that allowed them to.
What great political theater today’s Democrats make. Really, you cannot make this stuff up!
Better yet, Geithner was in the room while the AIG bailout was designed. So if anyone says they did not know what was going on, then what was Geithner do in the room, taking a nap?
All of this posturing is just Democrats looking for political cover for another blunder of many that they underestimated the fallout from. They apparently thought the People are this dumb or don’t care. Well, they are wrong and these blunders are going to cost them the Congress in 2010 and a lot of headaches right now.