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AIG bonuses could've been avoided

Discussion in 'Political Discussion' started by Holy Diver, Mar 18, 2009.

  1. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Showing my NON partisan side, and quest for justice in the bailout bonus scam....

    Looks like the Senator from Maine had it right, and was shot down in a closed door meeting...this REEKS.


    http://www.huffingtonpost.com/2009/03/17/wyden-my-bill-could-have_n_176084.html

    In an interview with The Huffington Post, Sen. Wyden bemoaned the removal of his bonus-limiting provision.

    Senator Ron Wyden said on Tuesday that the furor surrounding AIG's bonus payments could have been avoided had the Obama White House and members of Congress simply backed legislation that he and Sen. Olympia Snowe introduced more than a month ago.

    In an interview with the Huffington Post, the Oregon Democrat noted that during the crafting of the stimulus package, he and his Republican colleague from Maine introduced a provision that would have forced bailout recipients to cap their bonuses at $100,000. Any amount paid above that would have been taxed at 35 percent. The language made it through the Senate, but during conference committee with the House, it was inexplicably removed.

    "The reality is, had that legislation been passed it would have been a very strong disincentive to anybody paying out bonuses in the future," said Wyden. "Earlier, the President had denounced those bonuses that came at the end of the year. And when Senator Snowe and I said it is not enough for those in elected office to say it was wrong, that they have got to have a plan to have them pay it back, we were able to get legislation through the United States Senate. Not a single United States Senator was willing in broad daylight to stand up and oppose our bipartisan amendment... but it died in conference."

    Looking back, Wyden laments the missed opportunity, saying that it remains unclear who got the language stripped -- "it didn't die by osmosis."





    we need NAMES!
     
    Last edited: Mar 18, 2009
  2. thu062012

    thu062012 Rookie

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    Hi

    You can find this info by using search box in the top of website with some keywords related before posting questions.
     
  3. Wolfpack

    Wolfpack Banned

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    :confused: Uh, ok. :confused:
     
    Last edited: Aug 26, 2012
  4. Hamar

    Hamar In the Starting Line-Up

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    I tried that and it did not work. What now??
     
  5. Patsfanin Philly

    Patsfanin Philly Experienced Starter w/First Big Contract

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    The AIG Bonus Debacle: Channel Your Anger – The WashingtonWatch.com Blog

    >>But the Snowe-Wyden amendment disappeared into the misty bog of a House-Senate conference committee, only to be trumped by language that grandfathered in AIG’s retention bonuses. At first, this seemed to be an example of immaculate legislation — miraculously fatherless. After explicitly denying responsibility, Senate Banking Committee Chairman Christopher Dodd eventually admitted to including the exception under pressure from the administration.>>>

    For the record, that is the Obama administration, not the Bush administration...The same Barack Obama that received $130K from AIG employees in 2008 as a candidate.
    http://abcnews.go.com/Politics/story?id=7110145&page=1#.UDqxBqAq5WF
     
    Last edited: Aug 26, 2012
  6. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Any indictment for J Corzine 'losing 1.2 billion of investors money?
     
  7. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey


    I already knew this ... Wed062012 and Fri062012 told me about it ... but thanks anyways.
     
    Last edited: Aug 26, 2012
  8. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Do you have evidence of a crime being committed??

    Nice hijack, again....
     
  9. thu062012

    thu062012 Rookie

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    thu062012 that my name is not something that dates visit to find out more: interviewquestionstoask.info/american-international-group-interview-questions/
     
    Last edited: Aug 30, 2012

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