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Dodd's (D) chickens...
- Thread starter Steve Petersen
- Start date
FackCheck.org completely destroyed Republicans argument against Dodd. The real story is that Dodd tried to limit the bonus but failed since the White House opposed it.
http://www.factcheck.org/politics/blame_dodd_attacks_ignore_facts.html
http://www.factcheck.org/politics/blame_dodd_attacks_ignore_facts.html
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Some people will claim it's another BIAS site. They can't defeat the claim when they feel they can write it off with BIAS. BIAS happens, but it's such a lazy argument. So utterly lazy...
What's funny is it was Republicans that were up in arms about Executive Compensation being stricken and calling it "Class Warfare" and "Socialism" back in the day. Now that it's the popular movement, their tune has completely changed and they pretend they care. What hypocrites.
Personally I do not like the fact that there is an incentive for instigating total economic collapse. I also do not like Geithner's reasoning on the issue in February. I also don't think we have all of the facts yet.
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Pommer
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Despite the donations he received you can't deny the fact that he tried to pass in the bill rules to prevent those bonus. That seems to prove that he is not influenced by donations.
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I find it ironic that congress is blaming AIG and wanting names of individuals who received bonuses. When, in fact, congress knew about it, approved it, and now they are behaving otherwise. We, the people, should not be angry at the folks at AIG but in fact, Barney Frank, Dodd, Geithner, and YES even Obama. This was a mess from the get-go. Millions of our tax dollars. We, the people, are not that 'ignorant'.
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"I really don't want the government to take over these businesses and start telling them everything about what they can do." Minority Leader Mitch McConnell
"I think it's a sad day in America when the government starts setting pay, no matter how outlandish they [sic] are," Senator James DeMint, adding ,"This is just a symptom of what happens when the government intervenes and we start controlling all aspects of the economy."
"As I was listening to [Obama] make those statements I thought, is this still America? Do we really tell people how to run [a business], and who to pay, and how much to pay?" James Inhofe
There are plenty more of these....
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Voegelin
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One reason, in my opinion, Barney Frank and others are going on and on about the bonuses is because they wish to distract attention from the counterparties. They would rather, I suspect, talk about where less than one tenth of one percent of the money went than to where over 99% of it went.
The billions AIG has recieved from taxpayers goes in the front door of AIG and out the back to pay claims. Here who is at the back door of AIG loading up the taxpayer money:
http://www.aig.com/aigweb/internet/en/files/CounterpartyAttachments031809_tcm385-155645.pdf
Interesting list. The bank Clinton Secretary of Treasury Robert Rubin made over $100 million at is on the list. So is Goldman Sachs. And Wachovia.
Lots and lots of foreign banks are being bailed out by American taxpayers via AIG.
One of the more curious counterparties is Citadel. It's not a bank at all but a PRIVATE hedge fund.
Headquartered in Chicago.
Kenneth C. Griffin is the CEO.
He's fun to investigate.
In 2008, Forbes listed him as the 97th richest American. But taxpayers just gave his private hedge fund lots of money. More than all the bonuses AIG execs got.
But these counterparties are only half the story. They use the AIG/taxpayer money to pay off on credit default swaps they sold to other banks and to private hedge funds. WSJ reported the other day that billions went to unknown entities which were shorting the American housing market.
List above only goes to 12/31/08 and was only released this week. There is another $100 billion or so which went....somewhere or other.
I suspect some do not want people to start drawing lines between all the AIG counterparties and the American political class. Lots of familial relationships, nonprofit donations and political donors to be uncovered I bet.
So lets have Andrewe Cuomo and Blumenthal in Connecticut concentrated on the bonuses shall we? Be messy to find out where over 99% of the taxpayer money went. Whose son or daughter works for one of these funds, who got a donation from these funds, what the "nonprofits" some of these fund give money to do...etc...etc..
Disgraced former NY goveneror Eliot Spitzer spoke of this a few days ago. Its the counterparties he said, not who got a bonus.
Spitzer sure had to resign fast didn't he? Surprised me how fast his own party turned on him for ....well....for less than what Bill Clinton did. Seemed odd at the time....
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Voegelin
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The official donations to politicians are chump change.
There are other, perfectly legal, ways to support a candidate.
For instance, Goldman Sachs is known on the street as the bank with the most supporters of the Democratic Party.
As of the end of December, Goldman Sachs received $2.5 billion via the taxpayer bailout of AIG.
Interestingly enough, when AIG ran into trouble in 2008, Goldman Sachs was the bank which refused to write off one cent of the swaps AIG had insured. It demanded full payment. In normal business, such debts are routinuely written off to some extent.
But Goldman, knowing its demand would collapse AIG, went ahead and wanted payment in full. No one would normally do that. Better to get something than nothing.
Unless you knew the government was going to come in and make good on the debt.
Guess who Geithner picked as his top aid when he became Treasury Secretary?
Mark Patterson--a Goldman Sachs lobbyist.
There are other, perfectly legal, ways to support a candidate.
For instance, Goldman Sachs is known on the street as the bank with the most supporters of the Democratic Party.
As of the end of December, Goldman Sachs received $2.5 billion via the taxpayer bailout of AIG.
Interestingly enough, when AIG ran into trouble in 2008, Goldman Sachs was the bank which refused to write off one cent of the swaps AIG had insured. It demanded full payment. In normal business, such debts are routinuely written off to some extent.
But Goldman, knowing its demand would collapse AIG, went ahead and wanted payment in full. No one would normally do that. Better to get something than nothing.
Unless you knew the government was going to come in and make good on the debt.
Guess who Geithner picked as his top aid when he became Treasury Secretary?
Mark Patterson--a Goldman Sachs lobbyist.
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