By Jerry Zremski NEWS WASHINGTON BUREAU CHIEF
WASHINGTON - WASHINGTON — Congressional Democrats vowed Tuesday to strip away the $165 million in bonuses that American International Group paid to its executives with taxpayer bailout money. In doing so, they threatened to bite one of the many hands that feed the Washington campaign money machine.
“One way or another, we’re going to try to figure out how to get these [bonus] resources back,” said Sen. Christopher J. Dodd, D-Conn., chairman of the Senate Banking Committee.
Dodd has accepted $280,238 in campaign cash from AIG’s political committee and employees in the last 20 years.
Sen. Charles E. Schumer, D-N. Y., said: “If they don’t give the money back, we will put in place a new law that will allow us to tax these bonuses at a very high rate so that it is returned to its rightful owners — the taxpayers.”
Schumer has accepted $111,875 from AIG donors over two decades.
“They’re not going to get the financial benefit of those bonuses,” said Senate Finance Committee Chairman Max Baucus, D-Mont.
Baucus collected $90,000 from those connected to the insurance giant that has received more than $170 billion in federal bailout funds.
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This is nothing more than a Joe Kleco head fake before he cuts you off at the knees. If you can keep a man’s head snapping left and right, he might miss you coming straight at him.
For awhile, I thought that the Obama/Geithner team were inept Bozo’s who did not understand anything about the economy. (but how could anyone with their credentials and international educations be dummies?) The secret lies in their goal and purpose, which can only be to lead us into Socialism. Seem harsh? Lenin said: ‘the way to beat Capitalism is to destroy it’s currency‘.
How would you do that? Maybe by pulling taxpayer dollars out of the economy and investing in banking firms that are owned and financed by foreign countries? How about deficit spending that can only be paid for by higher taxes and inflation? How about government sponsored projects that require contractors to pay union wages to the aliens who will be manning the shovels? How about taking yet more money from taxpaying citizens and redistributing to those who have no tax liability? How about coming up with failed plans to “close the housing gap” AKA Freddie & Fannie, with AIG writing the mortgage insurance?
… and I thought they were stupid. They must think we are.
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