Chris Dodd Admits It
Posted on March 18th, 2009 by Tariq Nelson
For all the feigned outrage over the AIG bonuses from the Democrats, Senator Chris Dodd comes clean and admits that he was the one who inserted the loophole - after saying he had nothing to do with it
Filed under: Politics
None of what happened is the fault of any politician. If there are people who needs to be at fault is should be AIG. No matter who spent what, at the end of the day, they are the ones who needs to take responsibly for their irresponsible actions.
I’m not going to down Obama, Chris etc. Every politician/president has their ways of approaching fixing the economy whether the American people agree/disagree with their methods. They are no exception to this. Even though I wasn’t 100 percent in compliance with it, it was his method of handling the matter. AIG should have been honest and more responsible with what they did with that money. That was just sooo retarded what they did.
This may seem off the topic, but I think about how people will get angry about people on welfare and will boast about how the taxpayers pay for their bills. When I look at this , I think to myself, that as a TAXPAYER, I’m highly pissed that AIG played with my and other taxpayers money like that. I don’t like the idea that they are getting richer off that money. If that was a person on welfare committing fraud, our society will get on them something terrible. Those execs needs to be thrown in jail.
Wow Peaches, now that your guy is in office you have certainly become reserved with your observations.
What a transformation.
At least my man and Chrisisn’t responsible for the biggest economic screw-up in American history. Your party gave Bush 8 years to screw it u. Obama hasn’t even been in office a good semester and the GOP want him It’s going to take years to fix it. You guys gave Bush to screw with it, At least you should give Obama a chance to fix it
Realistically, Bush Jr has messed this economy up to the point where it may have to take 20 years or more to fix of it can ever be done. No matter how much you want to put the blame on Obama, the Bulk of the responsiblity will always go on you man Bush Jr.Those massive job lines foreclosures etc is our new reality and Bush Jr is culprit of it. Just look at the news and other media sources and see who they say is responsible for this screw up. May as well face the facts.
Peaches,
I didn’t agree with the Bush economic policy and actually it is very similar to OB’s and has now been coined the Bush Obama economic policy by many as OB is doing exactly what Bush did…..bailouts and huge amounts of money seemingly without strings attached.
Dodd btw wrote the bill applied to AIG and added the element about bonuses. He did not have to add that bonus portion as he authored the bill. He is lying about his involvement and also btw the White House guy that brought the bonus addition to his attention was his own prior chief of staff.
Dodd, you will also remember, recieved the special VIP home mortgage from Countrywide…the largest Mortgage lender that started the lending failure…he and Barney Franks (both Dems not Rep) oversaw this mess and reported to Bush/Congress that Freddie Mac/Fannie Mae were doing just fine, no cause for worry, back in 03-04.
Dems also rewrote the lending rules and forced banks to make loans to folks that did not qualify by prior rules (this began during Clintons last term)…and guess how many of the failed loans are a result of that…about 90%.
Read something about it rather than repeating party lines you read on blogs.
Uh, Pat,
Where do you think I get my info from? Try USA Today, The Atlanta Journal Constitution, the Wall Street Journal and I watch my local news even news sources like ITN/BBC , African and Japanese American news etc— need I say more and read other things related to this so you do not have to worry about what I read/don’t read promise you that.
Yes,corruption on both sides.but how many times has Bush lied to us about this economy. He’s the guy who said that our economy was doing well at the time even though there signs that it was going South and this was way before the economic crisis. He has lied about soooo many things until it’s not even funny: Iraq, Katrina, the Enron scandal etc. Didn’t you just find it funny that there were a lot of turnovers in his adminstration? Even his former press secretary no longer found him to be a credible man– a man he looked up to—and continued to lie until he left the White house. People got on Obama’s case about his economic adviser ( which I will admit, the guy seems weak) and telling him that he should resign, but how many times have Bush have kept/tried to keep people on his team who were dishonest with themselves? Many. He and Dick Cheney ( even though more Cheney than Bush) wanted Scooter Libby pardoned even though he did a criminal act. There are innocent people sitting on death row( Especially in his Home state ), some have already died without ever receiving another trial and they wanted this guy to be pardoned? What a shame.
Obama may not be a saint and I don’t worship him, but Bush is defintely far from it. He still has not own up to his responsiblities as of yet.The GOP doesn’t want him or his adminstration to be there, but where is their comprehensive economic plan?( besides tax cuts) Supposedly, Newt Gingrich claims that they have one. We’re still waiting for their idea.
Peaches,
It’s not about Bush anymore and I’m not defending Bush’s economic record in the least.
My point is simply that many of the folks that got us into this mess (Dodd, Franks etc) are crafting the policy to supposedly get us out of it?!
One cannot spend oneself out of a recession (find out what Roosevelts attempt to do that in the great depression really lead to) nor borrow money to pay off debt.
The trillion dollars plus debt we are currently looking at will haunt us for decades.
Mr. Gingrich has publically stated his fiscal plan on his website…it doesn’t call for trillions in spending (money we don’t have) nor borrow from one entity to pay another.
The real issue I have with Obama presently is the money Congress is still earmarking for programs not central to the primary issue of fixing the economy. He, Obama, does not appear to be able to focus on the primary target and gets upset when that is pointed out to him…he needs a thicker skin if he is to survive politically and lead this Nation anywhere we want to be.
BTW, reading newspapers is fine but not really research, I’d suggest the online library of Congress and do your own investigating on bills/authors/ and the fine print. The Congressional record can be tedious but therein lies the truth of who did what when.
Pat,
He should be given the chance to attempt to use his method of fixing the economy. No, I cringe at the thought of those dollars being given like that, but he said that it was a temporary fix and it wasn’t all bad. There are people from both parties who are already saying ” If it wasn’t for that stimulus package money, they would have to lay off such and such or cut funding from certain programs ……etc.No two people are alike and different presidents had different methods of fixing the economy. Obama knows what he’s doing. Just because people doesn things differently from what another person may do , they are branded as “wrong”
At least if people going to jeer him, give him a year before doing it.
I know about the Library of Congress. I had to do a lot of that in my Political Science class/American Historyclasses( God I loved my PS class), but thanks anyway.
Peaches,
You want to change your tune on Dodd now that word is out that AIG management was ‘urged’ to give to Dodd’s campaign in 2006? You’ll have to find the story somewhere else than the MSM. Since President Obama took office, Congress has already spent more money than the previous Administration spent on the Wars in Iraq, Afghanistan, and the response to Hurricane Katrina – combined. Obama has created his own economic disaster and it is ‘we the people’ that will end up cleaning it up.
Peaches,
The stimulus package will have a certain positive effect in the short term but IMHO many of the companies being bailed will still collapse (as some of them should in a free enonomy) even after given billions of unrecoverable tax payer money.
Some that will ‘collapse’ will not really perish but claim chapter 11 and be allowed to renegotiate union deals (Detroit) and may find themselves competative again.
In most every case, and this is what bothers most folks, we are rewarding bad behavior. That bad behavior extended from CEO’s working the margins on unsecured commodities expecting quick returns, politicians passing irresponsible legislation based upon ideology rather than existing conditions and everday people living way beyond their means.
Ergo, those that played by the rules, saved and lived within their means are now asked to ‘belly up’ and take more of the burden for those that made serious bad choices.
I predict that, in the final analysis, proping up organizations/businesses artificially will not save them or us…….now our Govt. is acting like the borrowers who lived outside their means, overspend, and tried to juggle massive debt using credit cards, no interest loans with a balloon paymt, and floating credit by overvalueing property.
Someday soon the bill will come due. Someday you just run out of other peoples money.