CHESSNOID

It is pretty simple. No fraudulent bailouts mean no fraudulent bonuses will be paid out.  I hate the fact that Obama and his administration are grandstanding and saying they are upset when they are the ones responsible for setting the whole fraud bailout in the first place.  I expected this stuff from Bush, but so far Obama is wasting just as much as making bonehead errors.  That’s right bonehead mistakes.  He still has Bernanke on board who is a financial stooge.  Now we have Geithner who replaced Paulson like Curly replaced Shemp.  Seriously, they are becoming the new 3 stooges in government.

On a side note, it seems the House and Senate unanomously voted to limit CEO compensation to $100,000 but Democrat Senator Chris Dodd took out the provision. This Senator is full of crap when he reprimands the CEOs when he took out the provision to limit their compensation.  ABC:

Last month, the Senate unanimously approved an amendment to the stimulus bill aimed at restricting bonuses over $100,000 at any company receiving federal bailout funds. The measure, which was drafted by Sen. Olympia Snowe, R-Maine, and Sen. Ron Wyden, D-Ore., applied these restrictions retroactively to bonuses received or promised in 2008 and onward.

But then…

The provision was stripped out during the closed-door conference negotiations involving House and Senate leaders and the White House. A measure by Sen. Chris Dodd, D-Conn., to limit executive compensation replaced it. But Dodd’s measure explicitly exempted bonuses agreed to prior to the passage of the stimulus bill.

Here’s the exact language from Dodd’s measure in the stimulus: “The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009…”

Why would Dodd  oppose a bill that both the House and Senate unanimously approved an amendment to the stimulus bill aimed at restricting bonuses over $100,000 at any company receiving federal bailout funds?

Is he in the back pockets of lobbyists or does he have friends in AIG. The only other logical answer would be he is an idiot!

AIG thanks Senator Chris Dodd for the special provision to give them millions.