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AIG Bonuses and Tracking Changes in the Stimulus

March 17, 2009 - by Donny Shaw

Jane Hamsher at FireDogLake uses OpenCongress’s legislative version tracking tool to research the Treasury Department’s claim that Sen. Christopher Dodd [D, CT] inserted a provision in the stimulus bill (H.R. 1) that allowed the A.I.G. bonuses to go forward.

By comparing the Senate version of the bill to the final conference version of the bill that was signed into law, she shows that a provision to block bonuses retroactively on TARP contracts, inserted by Dodd in the Senate bill, was actually taken out by the conference committee.

Here’s a link to that section of the bill. Right now it goes to a blank portion of the bill text (because it was removed), but click “show changes” at the top of the screen and you’ll see, in red, the retroactive bonus blocking provision, reportedly inserted by Dodd, that was taken out.

Hamsher: “who pushed back against Dodd, and told him to neuter the provision? The ”http://online.wsj.com/article/SB123457165806186405.html?mod=testMod">WSJ says Geithner and Summers:"

The administration is concerned the rules will prompt a wave of banks to return the government’s money and forgo future assistance, undermining the aid program’s effectiveness. Both Treasury Secretary Timothy Geithner and Lawrence Summers, who heads the National Economic Council, had called Sen. Dodd and asked him to reconsider, these people said.
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Comments

miternjrt 03/18/2009 4:02am

They forget, that they WORK for all legal Americans.
It is time they were fired without benefits.

Let them struggle like we are. IMPEACH them all.

LibertyRevolution 03/18/2009 5:14pm

The AIG bonus fiasco is a DISTRACTION

The US Govt, Treasury and Federal Reserve is Using AIG to LAUNDER BILLIONS OF $$$$ TO BANKS and OVERSEAS…. do the research

By Summer / Fall the DOW and Economy will be lower than the so called “bottom”

Wake up people, its a stage act to distract you from whats really going on

We have been sold out

EXCELLENCES 03/17/2009 4:26pm

March 17, 2009
Greetings Donny Shaw:
Old politics must stop, will the new 111th Congressional and the 44th Presidential Leaders must yield to accountability, credibility, authorization, approval and liability, yes the basic of square business with a new focus untainted by the old expectations of the 110th Congress and the two parties’ demo guard leaders. How many congressional leaders are responsible for allowing this provision to be inserted in the stimulus bill (H.R. 1)? Time out for party slaying—the time is now for national integrity beyond conservative, liberal, democratic and republican line!

Anonymous 03/18/2009 2:08am

Congressmen worked closely with AIG. It is congress friendly and CIA friendly, like Holbrooke.

Let’s check Congressmen and AIG?

Anonymous 03/18/2009 2:08am

Congressmen worked closely with AIG. It is congress friendly and CIA friendly, like Holbrooke.

Let’s check Congressmen and AIG?

Anonymous 03/17/2009 4:12pm

I know we are all aware that Congress Chairwoman has the Responsibility of acknowledging this took place during her watch by Congressman Dodd. Question, was her eye off the mark unintentionally or intentionally? What was the difference between A.I.G. and Goldman Sac quest and will to forfeit for their miscalculations and ailed business structure? Is this political?

Anonymous 03/17/2009 4:20pm

Greetings Donny Shaw:
Please check your e-mail for full reply!
Did A.I.G. funnel political campaign contributions that warrant this billion dollar ticket? Are the President’s bipartisan efforts being sabotaged from within both political parties tapping into our congressional leaders’ integrity? Are the moral fibers of values in need of rescue from immoral capitalist plagues amongst our business and political leaders?
Ernest RayEdward Walker

dmw 03/18/2009 8:58pm
Link Reply
+ -1
They took out the Twin Towers and said “it is an attack on America’s banking system” well it took seven years for the next attack on US soil, and the towers are now long gone. It took a trillion dollars to defend our position in the world after the attacks, and in the mean time they robbed our banks, and gouged, us for oil money until they ran us into the ground,and the whole time using that gas money to run a scam on the American banks. Lets just make sure the next trillion dollars gets paid to American companies and American workers, and make sure all these Multi National Engineering, and International Building Contractors,and International Bankers, don’t ship huge profits offshore to avoid paying US taxes like the three trillion dollar run on the banks in Sept.08 that caused this collapse.

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