Chris Dodd’s AIG Hypocrisy

Senator Chris Dodd (D-Conn.) claims being told about the controversy last week. That I can believe but the question is did the senator know about the bonuses before then.

Rich Edson from Fox Business reveals:

Senator Chris Dodd (D-Conn.) on Monday night floated the idea of taxing American International Group (AIG: 0.9643, 0.1842, 23.61%) bonus recipients so the government could recoup the $450 million the company is paying to employees in its financial products unit. Within hours, the idea spread to both houses of Congress, with lawmakers proposing an AIG bonus tax.

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.

Thanks, senator… you’re really looking out for us aren’t you.

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This entry was posted on Tuesday, March 17th, 2009 at 9:10 am and is filed under AIG, Chris Dodd. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  1. John Halverson says:
    March 17, 2009 at 6:44 pm

    that is one heck of an ROI $103,100 for $180 Billion, where can I get in on that? Republicans and Democrats are a bunch of hypocritical scum. By the way Obama also got $100k

  2. John H says:
    March 17, 2009 at 8:37 pm

    Unfortunately you got in on the wrong side of the investment with the rest of us.

    Thanks for dropping by and your comment, John.

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