March 17, 2009
Chris Dodd Wrote Law To Protect AIG Bonuses
Democrat senator Chris Dodd received more contributions than any other from AIG employees...
So what was Chris Dodd paid to do? Protect executive bonuses. As the senate wrote the $787 stimulus bill, Dodd unexpectedly added language to explicitly protect AIG bonuses...
Crack down on bonuses, retention awards and incentive compensation: Bonuses can only be paid in the form of long-term restricted stock, equal to no greater than 1/3 of total annual compensation, and will vest only when taxpayer funds are repaid. There is an exception for contractually obligated bonuses agreed on before Feb. 11, 2009.
Looks like our Congressmen weren't all asleep at the switch after all. Some of them were busy ensuring millions of taxpayer dollars could be used for lucrative bonuses.
Let the record show. This entire boondoggle was made possible by Liberal interventionist policy that believes the government has a duty to give your money to everyone else.
Related
- Chris Dodd: For AIG bonuses before he was against them by Michelle Malkin
- AIG Derangement Syndrome by Michelle Malkin
Posted by Richard at March 17, 2009 8:23 AM
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