



A few points about the AIG bonus hullabaloo. Sure, the bonuses are despicable under the circumstances. However, the bonuses are contractual bonuses and AIG has no choice but to pay them. Barney Frank is demanding the names of the bonus recipients. AIG leadership is in the wrong here, not the bonus recipients. The show being put on by the Dems in congress is to cover for the fact that they allowed Treasury to spend the money without any strings whatsoever, so the bad accountability lies with Congressional leadership. Also, Senator Dodd inserted a provision in the TARP bill that permitted the payment of such contractual bonuses, and now that the crap has hit the fan, he is trying to cover his fanny by saying that Congress will tax the money back into the Treasury. If Congress can tax specific private citizens by name, then is anything we own safe?
Update:
CNN states:
Dodd acknowledged his role in the change after a Treasury Department official told CNN the administration pushed for the language.
Dodd, a Democrat, told CNN's Dana Bash and Wolf Blitzer that Obama administration officials pushed for the language to an amendment designed to limit bonuses and "golden parachutes" at those companies.
"I agreed reluctantly," Dodd said. "I was changing the amendment because others were insistent."
So now Dodd is squirming. Yesterday, he said he had no idea how the language got into the bill. Today, having been caught in a lie, acknowledges that he put the language in the bill, but he blames it on the Obama administration. A simple "I apologize. I made a mistake" would be sufficient and everyone would forgive and forget, but Dodd's pride will not allow him to do so. Will a Democrat ever take responsibility for a mistake? If it were a Republican, the Democrats would be demanding a resignation at this point.



