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Chris Dodd Admits to AIG Loophole Language in Stimulus

silvercord says...

^It doesn't really matter. Dodd is on the front line . . . and he DID lie. The New York Times puts it in perspective:

“Across Connecticut, anger is erupting against Mr. Dodd, the chairman of the Senate Banking Committee, whose stature in Washington once reflected the state’s beneficial ties with the financial industry. Now, he finds himself a symbol of the political establishment’s coziness with tainted corporations and a target of populist wrath over their excesses. . . . In dozens of interviews, residents said they were appalled by Mr. Dodd’s ties to financial firms and believed that he had damaged himself as he prepares to run for re-election next year.”

No kidding.

Rachel Maddow: OM(AI)G

Diogenes says...

wait a tic...

this segment of rachel's bashes on:

dana perino (bush admin press secretary)
rush limbaugh (republican gasbag)
sen. mitch mcconnell - kentucky (r)
sen. bob corker - tennessee (r)
sen. john mccain - arizona (r)

with absolutely no mention of *any* democrat, specifically this:

http://edition.cnn.com/2009/POLITICS/03/18/aig.bonuses.congress/index.html

"Senate Banking committee Chairman Christopher Dodd told CNN Wednesday that he was responsible for language added to the federal stimulus bill to make sure that already-existing contracts for bonuses at companies receiving federal bailout money were honored.

"Dodd acknowledged his role in the change after a Treasury Department official told CNN the administration pushed for the language.

"Both Dodd and the official, who asked not to be named, said it was because administration officials were afraid the government would face numerous lawsuits without the new language.

"Dodd, a Democrat, told CNN's Dana Bash and Wolf Blitzer that Obama administration officials pushed for the language to an amendment designed to limit bonuses and "golden parachutes" at those companies."

and then rachel throws in a somewhat disingenuous correlation between median household income growth from the '70s through to 2000, and then falling to negative growth over the last eight years, as she would have us believe, because of wall street deregulation?? isn't such a decline far more likely because of the tech bubble bursting at the end of the last decade, or a recession beginning in march 2001, or 9/11 and a subsequently ham-handed 'war on terror'?

i'm as outraged as the next american over this fiasco... but is what rachel's doing here really 'news'?

it seems dishonest, at least to me, so i guess the 'lies' tag is fitting

Full Obama Speech to Joint Session of Congress

NetRunner says...

I think I can fill out most of the list:

#1. The House Sergeant at Arms (left), and I think he's accompanied by the Senate Sergeant at Arms.
#2. Special guests
#3. From left to right, Senate Majority Leader Harry Reid (D-NV), Senator Dick Durbin (D-IL), Senator Chuck Shumer (D-NY), and in front of them looks like Supreme Court Justice Sam Alito.
#4. From left to right, Defense Secretary Robert Gates, Treasury Secretary Timothy Geitner, and HRC herself (Secretary of State).
#5. In the middle is Congressman Charlie Rangel (D-NY), I'm guessing he's with other House Representatives from NY.
#6. Senator Chris Dodd (D-CT) currently also Chairman of the Senate Banking Committee (kinda important atm)
#7. From left to right, House Minority Whip Eric Cantor (R-VA), and House Minority Leader John Boehner (R-OH). These two are the current Republican House leadership.
#8. Senate Majority Leader Harry Reid (D-NV).
#9. Senator Judd Gregg (R-NH), who had a brief flirtation with being Obama's Commerce Secretary.
#10. Senate Minority Leader Mitch McConnell (R-KY). He's the current Republican Senate leadership.
#11. Earl Devaney, the new Inspector General Obama was talking about seconds before (who helped bust Jack Abramaoff)
#12. Not sure who the guy picking at his ear is, but the other two are Housing and Urban Development Secretary (HUD) Shaun Donovan, and Labor Secretary Hilda Solis.
#13. Juggs magazine. Or the text of the speech he's listening to. Oh, and it's Senator Richard Shelby (R-AL), who's the ranking Republican on the Senate Banking Committee (and former chair).
#14. The infamous Joe Lieberman (I-CT), former Democrat who campaigned for John McCain.
#15. Senator Arlen Spector (R-PA), one of the 3 Republicans to vote for the Stimulus bill.
#16. Senators Evan Bayh (D-IN), and Roland Burris (D-IL) the latter of Blagojevich fame.
#17. Senator Patrick Leahy (D-VT) in the middle, not sure of anyone else. He's the chairman of the Senate Judiciary Committee.
#18. I'm forgetting his name, but he's a House Republican, and most likely so is the woman next to him.
#19. Peter Orszag, new Director of the Office of Management and Budget (OMB), formerly Director of the Congressional Budget Office (CBO). Chief of Staff Rahm Emmanuel is to his left.
#20. Chuck Shumer again.
#21. Secretary of Veterans Affairs (VA) Eric Shinseki
#22. Not sure, I think he's a House Republican.
#23. Energy Secretary Steven Chu.
#24. Senator Barbara Boxer (D-CA)
#25. Don't know.
#26. Don't know. I'll wager a guess it's a House Democrat though.
#27. Senator Carl Levin (D-MI)
#28. Don't know.
#29. Senator Dick Lugar (R-IN)
#30. Don't recognize him, but he must be an Obama cabinet member, since that's who he's sitting amongst.
#31. Evan Bayh (D-IN) again.
#32. On the left is Congressman Jesse Jackson Jr. (D-IL), not sure who's next to him.
#33. Don't know.
#34. Senator Lindsey Graham (R-SC), buddy of John McCain.
#35. From left to right, Secretary of the Interior Ken Salazar, Defense Secretary Bob Gates, Treasury Secretary Tim Geitner, and Hillary something or other.
#36. I only know the one on the left, Admiral Mike Mullen, Chairman of the Joint Chiefs of Staff, but those are the *cough* Joint Chiefs of Staff; the heads of the Navy, Army, Air Force, and Marines (in that order unless I've misidentified the uniforms).
#37. No clue, but it's likely they're part of the JCS organization.
#38. Dunno, but he's sure to be on this list somewhere. To his left is Ted Strickland, Governor of Ohio (D).
#39. Don't know. I think that's the Republican House section, though.
#40. Don't know.
#41. Captain Sully Sullenberger. Pilot of this plane.
#42. Mayor Bob Dixon, from Greensburg, Kansas; the city Obama's talking about.

Phew.

quantumushroom (Member Profile)

quantumushroom says...

DEMOCROOKS

$34,000: the amount of federal taxes that Secretary of the Treasury Timothy Geithner (D) failed to pay during his employment at the International Monetary Fund despite receiving extra compensation and explanatory brochures that described his tax liabilities.

$75,000: the amount of money that the head of the powerful tax-writing committee, Rep. Charlie Rangel (D-NY), was forced to report on his taxes after the discovery that he had not reported income from a Costa Rican rental property. His excuses for the failure started with blaming his wife, then his accountant and finally the fact that he didn't speak Spanish.

$93,000: the amount of petty cash each Congressional representative voted to give themselves in January 2009 during the height of an economic meltdown.

$133,900: the amount Fannie Mae "invested" in Chris Dodd (D-CT), head of the powerful Senate Banking Committee, presumably to repel oversight of the GSE prior to its meltdown. Said meltdown helped touch off the current economic crisis. In only a few years time, Fannie also "invested" over $105,000 in then-Senator Barack Obama.

$140,000: the amount of back taxes and interest that Cabinet nominee Tom Daschle (D) was forced to cough up after the vetting process revealed significant, unexplained tax liabilities.

$356,000: the approximate amount of income and deductions that Daschle (D) was forced to report on his amended 2005 and 2007 tax returns after being caught cheating on his taxes. This includes $255,256 for the use of a car service, $83,333 in unreported income, and $14,963 in charitable contributions.

$800,000: the amount of "sweetheart" mortgages Senate Banking Chairman Chris Dodd (D-CT) received from Countrywide Financial, the details for which he has refused to release details despite months of promises to do so. Countrywide was once the nation's largest mortgage lender and linked to Government-Sponsored Entities like Fannie Mae and Freddie Mac. Their meltdown precipitated the current financial crisis. Just days ago in Pennsylvania, Countrywide was forced to pay $150,000,000 in mortgage assistance following "a state investigation that concluded that Countrywide relaxed its underwriting standards to sell risky loans to consumers who did not understand them and could not afford them."

$1,000,000: the estimated amount of donations by Denise Rich, wife of fugitive Marc Rich, to Democrat interests and the William J. Clinton Foundation in an apparent quid pro quo deal that resulted in a pardon for Mr. Rich. The pardon was reviewed and blessed by Obama Attorney General and then Deputy AG Eric Holder, despite numerous requests by government officials to turn it down.

$12,000,000: the amount of TARP money provided to community bank OneUnited despite the fact that it did not qualify for funds, and was "under attack from its regulators for allegations of poor lending practices and executive-pay abuses." It turns out that Rep. Maxine Waters (D-CA), a key contributor to the Fannie Mae meltdown, just happens to be married to one of the bank's ex-directors.

$23,500,000: The upper range of net worth Rep. Allan Mollohan (D-WV) accumulated in four years time according to The Washington Post through earmarks of "tens of millions of dollars to groups associated with his own business partners."

$2,000,000,000: ($2 billion) the approximate amount of money that House Appropriations Chairman David Obey (D-WI) is earmarking related to his son's lobbying efforts. Craig Obey is "a top lobbyist for the nonprofit group" that would receive a roughly $2 billion component of the "Stimulus" package.

$3,700,000,000: ($3.7 billion) not to be outdone, this is the estimated value of various defense contracts awarded to a company controlled by the husband of Rep. Diane Feinstein (D-CA). Despite an obvious conflict-of-interest as "a member of the Military Construction Appropriations subcommittee, Sen. Feinstein voted for appropriations worth billions to her husband's firms ."

$4,190,000,000: ($4.19 billion) the amount of money in the so-called "Stimulus" package devoted to fraudulent voter registration ACORN group under the auspices of "Community Stabilization Activities". ACORN is currently the subject of a RICO suit in Ohio.

$1,646,000,000,000: ($1.646 trillion): the approximate amount of annual United States exports endangered by the "Stimulus" package, which provides a "Buy American" stricture. According to international trade experts, a "US-EU trade war looms", which could result in a worldwide economic depression reminiscent of that touched off by the protectionist Smoot-Hawley Act.

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