Dodd & Obama Lied, The Economy Died
Sen. Dodd and President Obama have repeatedly lied about the policy and process which permitted the AIG bonuses to be paid out. Obama’s Stimulus Package is the vehicle that allowed this scandal to happen.
At least Dodd admitted he’s been lying today.
So Chris Dodd admitted he misled CNN, telling them on Tuesday he had nothing to do with the loophole that mysteriously found its way into legislation and paved the way for AIG’s bonuses to be paid. The following day, Dodd confessed to CNN’s Dana Bash that he in fact wrote the loophole, though he said he did it at the behest of the administration and with the knowledge that he would lose the amendment altogether if he did not comply.
Will President Obama admit this evening with Jay Leno that he too has lied to the American public? That he lied about how he permitted bonuses to AIG execs to proceed when he signed the Stimulus Package? That he never read the legislation that he signed that was so important to save the economy?
Are pigs flying in Burbank?
Barry — this one ain’t Bush’s Fault (TM) whatsoevah.
-Bruce (GayPatriot)
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Guess what else isn’t Bush’s fault? Well, lots of things, but… what I have in mind here is rising inflation. They told that trillions had to be spent on bailouts and pet Democratic pork payoffs because the country faced an alleged “deflation” crisis. Turns out, not so much. Consumer prices were up in January. Up again in February.
Comment by ILoveCapitalism — March 19, 2009 @ 7:21 pm - March 19, 2009
http://chomsky.info/articles/20081125.htm – A chomsky article on a variety of things, but have a look at the section ‘The Administration’, in particular the part about actions and rhetoric. It’s a very cogent articulation of the metaphoric distance between what the obama admin says it is and what it does.
I ask what you think this means about Obama’s true ‘agenda’. If hes propping up the banks and letting them have bonuses, does this complicate the idea that he is a socialist/communist? it looks like good old fashioned quid pro quo corporate corruption to me, which the political system is guilty of at large. I dont’ have the answers, am asking for opinions.
Comment by Scottland — March 19, 2009 @ 7:25 pm - March 19, 2009
Ooooh, bad choice! The original moonbat. You may as well have cited an article by Satan.
Nope. Hitler did it too. And Stalin: a State-owned bank is a propped-up bank.
Propping up banks isn’t capitalism/freedom; letting them fail is. It ain’t capitalism without the business failures to let the assets of the incompetent be taken over by the genuinely competent.
Comment by ILoveCapitalism — March 19, 2009 @ 8:05 pm - March 19, 2009
This Obamateleprompter visit to the Jay Leno show couldn’t come at a better time. It is about time someone asks BHO some tough questions about what Obamateleprompter knew and when he knew it. This pork bill, bonus payout crap is unbelieveable. Dodd didn’t know, Geithner didn’t know, Obamateleprompter didn’t know. Thank God we can rely on Leno to ask some tough questions and get to the bottom of these scandals. Remember it has been Democrats who have been passing this legislation.
Comment by Gene in Pennsylvania — March 19, 2009 @ 8:21 pm - March 19, 2009
So the moronic Democrat congress people are asleep at the switch. And they fein outrage! They are going to go after business people who are horrible. Get the bonuses back, get the money back….yada yada yada.
Did you know these same dummies and boobs are getting a regular built in pay raise. Yep they don’t even have to bother to vote on it. It’s automatic. They do their jobs so well they get automatic pay raises. What a load.
Comment by Gene in Pennsylvania — March 19, 2009 @ 8:42 pm - March 19, 2009
I read a pretty good defense for offering these guys bonuses, actually. Think about it, you’re good in your field, what would entice you to go to a business that has been teetering on collapse for years in the middle of this rocky economy? If AIG actually falls, well, you can’t get another job, can you? They had to fill some of those spots, pronto, and so they offered sweet deals. This is not unlike what the dems in my home state of Oregon did during the y2k worries. They enticed folks to come to state IT service via enormous benefit packages that are STILL haunting us. If the congress would just put down those torches and pitchforks for a few seconds they might realize this is a terrifying precident. It seems to me that the single reason that makes the US the best place on the continent to invest is that we uphold contract law (unlike, say Bolivia, which might just decide to keep your business if you tick off the right person). I would think that a congress that signals the desire and proven ability to take assets because they don’t like you would pull the rug out from under our economy. Am I wrong?
Comment by Carolynp — March 19, 2009 @ 9:44 pm - March 19, 2009
While I can’t fairly-judge if they truly earned those bonuses, I hope at-least one of the senior guys at AIG has the balls to sue any punitive taxes as a Bill of Attainer…strictly forbidden in our Constitution. This is the reason we’re not a democracy, we’re a republic under law….the avoidance of mob rule.
Comment by Ted B. (Charging Rhino) — March 19, 2009 @ 10:36 pm - March 19, 2009
I ask again, is there a single competent, ethical person in the Obama Administration? Is there a single competent, ethical Democrat in a leadership position in Congress?
Comment by V the K — March 20, 2009 @ 12:11 am - March 20, 2009
Is it time for the “Impeach Biden first” bumper stickers yet?
Comment by Conservative Guy — March 20, 2009 @ 12:17 am - March 20, 2009
#9
Can we throw in Schumer, Pelosi, Reid, Frank, Dodd etc. as co-conspirators?
Comment by ThatGayConservative — March 20, 2009 @ 12:30 am - March 20, 2009
Dodd & Obama Lied, People Are Pissed
Don’t you worry. He’ll find a few more measley million dollars to distract you from his trillions upon trillions in new spending.
Just don’t ask for your money back on the “Great Society” or the Socialist Stupidity Ponzi Scheme.
Remember back in 04 when there was a group of liberals apologizing to the world because Bush was elected? They had a website and a book. Can we start apologizing for Chairman Obama?
I’m sorry, UK, we elected an inconsiderate boob.
I’m sorry, Ireland, we elected a buffoon who can’t keep his speeches straight and his TelePrompter in line.
I’m sorry, Mexico, that we elected an incredible pussy who will not help you with the cartels, but he’ll ignore the facts surrounding the safety of your trucks and put the Teamsters ahead of our common interests.
I’m sorry, Vatican, that we elected some chump who values infanticide over having more incredible pussy voters.
I’m sorry, Peru, Colombia & SoKo for electing a bumbling idiot who still thinks it’s a good idea to give you guys the finger. I’m even more sorry that he has no idea why.
Comment by ThatGayConservative — March 20, 2009 @ 5:40 am - March 20, 2009
Filtered
Comment by ThatGayConservative — March 20, 2009 @ 5:40 am - March 20, 2009
surely the original moonbat is george monbiot? I thought that was where the name came from.
And chomsky is suspicious of power in all its forms, regardless of political affiliation. the article slams obamas political appointments.
Comment by Scottland — March 20, 2009 @ 7:51 am - March 20, 2009
‘Propping up banks isn’t capitalism/freedom; letting them fail is. It ain’t capitalism without the business failures to let the assets of the incompetent be taken over by the genuinely competent.’
So you would agree that the nexus of politics and business in the Bush administration (Goldman Sachs protege Paulson as Treasury sec for instance) wouldd constitute a form of economic facism?
Comment by Scottland — March 20, 2009 @ 7:56 am - March 20, 2009
Noam Chomsky is a Nazi. Anyone who posts an article from Noam ChomsKKKy is a jackboot.
Comment by Attmay — March 20, 2009 @ 7:59 am - March 20, 2009
I’m a britsh hungarian Jew! what’s with all the hostility to additional information?
Comment by Scottland — March 20, 2009 @ 8:05 am - March 20, 2009
I’m a hungarian jew! what’s with all the namecalling?
Comment by Scottland — March 20, 2009 @ 8:05 am - March 20, 2009
I’d say his linguistic ideas are more unreasonable than his politics. Universal supergrammar is a pretty dense idea to wade through. His political views are more anarcho syndicalist. outdated for sure, but very interesting.
Why are you so hostile to his dislike of the obama administration?
Comment by Scottland — March 20, 2009 @ 8:11 am - March 20, 2009
Isn´t it about time for the independents and Republicans who voted for Obama to have buyer´s remorse?
Comment by Roberto — March 20, 2009 @ 11:21 am - March 20, 2009
From Blue Crab:
Question: Who passed the bailout legislation?
Answer: Congress.
Question: Who specifically exempted the bonuses paid to AIG employees and allowed them to be paid?
Answer: Congress.
Question: Who signed that bill into law?
Answer: Barack Obama.
Question: So who is to blame for all this?
Answer, (according to Congress): Private individuals with signed contracts completely legal under the law passed by Congress and signed by Barack Obama.
Comment by rightwingprof — March 20, 2009 @ 11:22 am - March 20, 2009
Article I, section 9, clause 3 bans Bills of Attainder and Ex Post Facto laws. Going after AIG bonuses which were legally contracted is clearly unconstitutional. What ethical member of Congress would knowingly sign on to violating the Constitution?
AIG built a financial time-bomb based on all the screwy derivatives, sub-prime mortgages, bundled securities and tacit treasury guarantees behind the Freddie/Fannie madness. After the bailout, AIG set to work with many of the mad scientists who built the time-bomb to defuse it. Now, Chris and Barney and Obama and Geithner want to use a private bill to take the money, after the fact, that these guys were due under contract law. And they want to make their names public so that they will be so radioactive that they will never work in finance again. (Provided they survive the death threats.)
Fine, but what about the crew who wrote the recipe? That would be the crew in Congress who made it a policy to make loans to rotten risks so they could magically stabilize and become homeowners and live happily ever after.
The next chapter is The National Bank of Acorn where every loan is based on the intuition of the teller and policy is regulated by a mood ring.
This is what “the dictatorship of the proletariat” looks like. Little minds sawing away at big dreams while a saprophytic politburo eats high off the hog and enables the dictatorship.
Comment by heliotrope — March 20, 2009 @ 11:27 am - March 20, 2009
#17 roberto, all it would take is 5million plus one to have changed the outcome of the 2008 election. And a very poor Rrepublican candidate, though non socialist, McCain would have won.
Comment by Gene in Pennsylvania — March 20, 2009 @ 12:28 pm - March 20, 2009
Why are you so hostile to his dislike of the obama administration?
I wouldn’t call it hostile. I would call it being critical of the rat abandoning the sinking ship — after said rat spent what amounts to a year and a half plugging the ship’s seaworthiness.
Comment by North Dallas Thirty — March 20, 2009 @ 1:36 pm - March 20, 2009
NDT, are you suggesting that Chomsky was an Obama supporter? I was very much of the impression that Chomsky’s suggestion to vote for Obama came very late in the game (Oct 2008), and was very much a ‘lesser of two evils’ arguement. I’d have him down as a Nader supporter personally, but that’s just speculation.
the 2008 election result was, as it ever is, the shuffling of a pre-existing deck. any tangible social or economic change during this time will be dictated by or leeched out of the same governing elites that have bought and sold America for jebus knows how long. That is the general point I am trying to make.
From Chomsky: ‘The best-funded candidates won nine out of 10 contests, and all but a few members of Congress will be returning to Washington.” Before the conventions, the viable candidates with most funding from financial institutions were Obama and McCain, with 36% each.’
Do you think that with a McCain presidency, but the name numbers in the House and Senate as there are now, the treatment of the financial industry would be better? does better mean no bailout?
Comment by Scottland — March 20, 2009 @ 2:07 pm - March 20, 2009
Bruce: “Are pigs flying in Burbank?”
I dunno…where exactly is Rosie O’Donnell nowadays??
Regards,
Peter H.
Comment by Peter Hughes — March 20, 2009 @ 3:34 pm - March 20, 2009
I guess we’re just going to have to wait for TOTUS to write its tell all book about the Obama Administration before we get the truth.
Comment by eaglewingz08 — March 20, 2009 @ 4:06 pm - March 20, 2009
I was led to believe that electing an “African American” was magically going to solve all that was wrong with the United States government overnight. Boo Hoo!!! Apparently, African Americans, Gay Individuals (Barney Frank), Hispanics are all acting uncharacteristically like the European Ethno-Centric Devils who grabbed this nation from the Native Americans. Corruption isnt limited to “white people”" anymore??? I need to move back to the reservation, get my HUD house and commods and chill out!!!
Comment by Duffy T. — March 21, 2009 @ 1:55 am - March 21, 2009
#16: I’m not hostile to his “dislike of the Obama administration”. I’m hostile to his dislike of the United States of America, Israel, and apparently all western nations.
Comment by Attmay — March 21, 2009 @ 3:42 pm - March 21, 2009
#17: How about the self-proclaimed “real” conservatives who refused to suck it up and vote for McCain and refused to vote? Can we blame them, too? They are just as much to blame.
Comment by Attmay — March 21, 2009 @ 3:43 pm - March 21, 2009
#27 Attmay
Agreed!
Comment by Roberto — March 22, 2009 @ 11:19 am - March 22, 2009
http://skreened.com/obamahopeforchange/obama-lied-the-economy-died?direction=asc&field=order&query=&start=0&count=12
Comment by shawn — March 24, 2009 @ 12:15 pm - March 24, 2009