Thursday, March 19, 2009

Dodd Calls A Spade A Spade

Obo's People Asked For Bonus Amendments

March 19 (Bloomberg) -- "Senate Banking Committee Chairman Christopher Dodd said the Obama administration asked him to insert a provision in last month’s $787 billion economic- stimulus legislation that had the effect of authorizing American International Group Inc.’s bonuses.

Dodd, a Connecticut Democrat, said yesterday he agreed to modify restrictions on executive pay at companies receiving taxpayer assistance to exempt bonuses already agreed upon in contracts. He said he did so without realizing the change would benefit AIG, whose recent $165 million payment to employees has sparked a public furor.

Dodd said he had wanted to limit executive compensation at companies that got money from the government’s financial-rescue fund. AIG has received $173 billion in bailout money. His provision was changed as the stimulus legislation was negotiated between the House and Senate.

“I did not want to make any changes to my original Senate-passed amendment” to the stimulus bill, “but I did so at the request of administration officials, who gave us no indication that this was in any way related to AIG,” Dodd said in a statement released last night. “Let me be clear -- I was completely unaware of these AIG bonuses until I learned of them last week.” He didn’t name the administration officials who made the request"

Blah blah and blah. Democrats fucking things up isn't news, but the following got to me...

"An administration official said last night that representatives of President Barack Obama didn’t insist on the change, though they did contend that the language in Dodd’s amendment could be legally challenged because it would apply retroactively to bonus agreements."

Representatives of President Obama. When was the last time you heard of a President having "representatives"? He has cabinet members, advisors, friendly rubber-stamp members of Congress, but not this nutcase. Unnamed representatives. Part of the anonymous gang that couldn't govern straight, or, as we've said time and again, just the way politics as usual goes on in filthy disgusting places like Chicago.

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