This entire ordeal is getting really ing entertaining.
Bunch of career politician morons who could not hack it in business are now trying to tighten up the leash and act like they have any ing idea of what to do.
Seriously dude you listen to talk radio to much. Politicians who could not hack it in business?
Please give me one example of one the politicians you cite as having failed in business..
Of course being a CEO for failed company can get you the republican nomination for President..
you my friend are a moron.
George W. BushSeriously dude you listen to talk radio to much. Politicians who could not hack it in business?
Please give me one example of one the politicians you cite as having failed in business..
Of course being a CEO for failed company can get you the republican nomination for President..
you my friend are a moron.
Obama probably just gave one of the better simple explanations of the situation I've heard. I hope they gets played on the news over and over so people gain a better understanding for the reasoning on enacting the rescue of AIG. Actually the entire press conference held a much better tone regarding what they will do with this situation. Maybe he realized how ridiculous the outrage statements a few days ago were (not to mention useless) and are moving in a better direction now.
con⋅tract
–noun
1. an agreement between two or more parties for the doing or not doing of something specified.
2. an agreement enforceable by law.
3. the written form of such an agreement.
You got pinked.
Ouch. Wha' happen'?
It is annoying. Gank their bonuses, but stop falling all over each other trying to "one-up" each other in the outrage game.
Succinct. Thats exactly what it is for these politicians. A contest on who can look more appalled, but effectively do nothing.
Lynch is a real bag. how do you jump on someone for contracts they didn't write?
The more of that hearing I watched the more I hated some members of congress and the media and the more I like Edward Liddy.
ing congress wants to micromanage this? Seriously, the more I watch of this grandstanding the more I want to yell at these assholes.
BTW the poster of that video (on youtube) is pretty funny. I don't think the Federal Reserve's involvement in bailing out AIG was exactly unknown.
The congressperson that removed the restrictions from that bill is going to be under huge fire when they find out who it was.
It was a Democrat bill...they're all in it up to their wallets.
Uh - that would be Chris Dodd - the biggest receipient of contributions from AIG executives!
Liddy took the job for a dollar a year, last September.
The Retention Contracts -- put in place to keep key people working on a sinking ship and known about by the Fed and Congress and the administration a lot longer ago than last week -- were executed long before Liddy.
AIG is headquartered in Connecticut. If they break the contracts, the employees can sue and, if they win, can recover twice the amount the contracts promised plus court and attorney's fees. That $330 million plus costs.
165 Million is 9/100 of 1% of the total amount of bailout funds given to AIG.
Fannie Mae and Freddie Mac who have received comparable amounts of our money are also handing out bonuses. Where's the outrage? I guess Barney Franks can't afford a lover's spat right now.
All the bluster about passing a specific law to claw back the bonuses from AIG executives violates at least two Cons utional provisions;
Article 1 Section 9 says, in pertinent part, "No Bill of Attainder or ex post facto Law shall be passed."
Article 1 Section 10 says, in pertinent part, "No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any le of Nobility."
The lefties on this board harped about how President Bush was trashing the cons ution when discussing issues where there was considerable disagreement over whether or not he had even broken the law, much less violated any cons utional tenets. How do you guys feel about this blatant display of willingness to abandon the cons ution?
I thought he was second to Obama.
Try again - Chris Dodd is in the senate.
I think I've made it quite clear about how I feel on this subject, but lets also make one thing clear. Bush took actions which violated the Cons ution so lets not compare mere bluster with actual action.
That's what you get for passing and signing legislation into law without reading it.
Didn't President Teleprompter call it the "Dodd Amendment?" Dodd's protestations (from under the bus) notwithstanding?
How about YOU try again Manny!Try again - Chris Dodd is in the senate.
BREAKING: I was responsible for bonus loophole, says Dodd
Posted: 05:56 PM ET
WASHINGTON (CNN) — Senate Banking committee Chairman Christopher Dodd told CNN’s Dana Bash and Wolf Blitzer Wednesday that he was responsible for adding the bonus loophole into the stimulus package that permitted AIG and other companies that received bailout funds to pay bonuses.
Watch: I'm responsible for bonus loophole, Dodd says
On Tuesday, Dodd denied to CNN that he had anything to do with the adding of that provision.
that bas .
Obama was second - but not by much! I posted the amounts earlier in this thread.
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