DTB super avoid man
he dont want to come close to anythng close to critisizing his hero George W and Dickie C
he dont want to come close to anythng close to critisizing his hero George W and Dickie C
AIG
- Thread starter hedgehog
- Start date
Dodd's Wife a Former Director of Bermuda-Based IPC Holdings, an AIG Controlled Company
By Kevin Rennie
No wonder Senator Christopher Dodd (D-Conn) went wobbly last week when asked about his February amendment ratifying hundreds of millions of dollars in bonuses to executives at insurance giant AIG. Dodd has been one of the company's favorite recipients of campaign contributions. But it turns out that Senator Dodd's wife has also benefited from past connections to AIG as well.
From 2001-2004, Jackie Clegg Dodd served as an "outside" director of IPC Holdings, Ltd., a Bermuda-based company controlled by AIG. IPC, which provides property casualty catastrophe insurance coverage, was formed in 1993 and currently has a market cap of $1.4 billion and trades on the NASDAQ under the ticker symbol IPCR. In 2001, in addition to a public offering of 15 million shares of stock that raised $380 million, IPC raised more than $109 million through a simultaneous private placement sale of 5.6 million shares of stock to AIG - giving AIG a 20% stake in IPC. (AIG sold its 13.397 million shares in IPC in August, 2006.)
Clegg was compensated for her duties to the company, which was managed by a subsidiary of AIG. In 2003, according to a proxy statement, Clegg received $12,000 per year and an additional $1,000 for each Directors' and committee meeting she attended. Clegg served on the Audit and Investment committees during her final year on the board.
IPC paid millions each year to other AIG-related companies for administrative and other services. Clegg was a diligent director. In 2003, the proxy statement report, she attended more than 75% of board and committee meetings. This while she served as the managing partner of Clegg International Consultants, LLC, which she created in 2001, the year she joined the board of IPC. (See Dodd's public financial disclosure reports with the Senate from 2001-2004 here.)
Dodd is likely more familiar with the complicated workings of AIG than he was letting on last week. This week may provide him with another opportunity to refresh his recollections.
................................................................
hmmmm this explains alot
By Kevin Rennie
No wonder Senator Christopher Dodd (D-Conn) went wobbly last week when asked about his February amendment ratifying hundreds of millions of dollars in bonuses to executives at insurance giant AIG. Dodd has been one of the company's favorite recipients of campaign contributions. But it turns out that Senator Dodd's wife has also benefited from past connections to AIG as well.
From 2001-2004, Jackie Clegg Dodd served as an "outside" director of IPC Holdings, Ltd., a Bermuda-based company controlled by AIG. IPC, which provides property casualty catastrophe insurance coverage, was formed in 1993 and currently has a market cap of $1.4 billion and trades on the NASDAQ under the ticker symbol IPCR. In 2001, in addition to a public offering of 15 million shares of stock that raised $380 million, IPC raised more than $109 million through a simultaneous private placement sale of 5.6 million shares of stock to AIG - giving AIG a 20% stake in IPC. (AIG sold its 13.397 million shares in IPC in August, 2006.)
Clegg was compensated for her duties to the company, which was managed by a subsidiary of AIG. In 2003, according to a proxy statement, Clegg received $12,000 per year and an additional $1,000 for each Directors' and committee meeting she attended. Clegg served on the Audit and Investment committees during her final year on the board.
IPC paid millions each year to other AIG-related companies for administrative and other services. Clegg was a diligent director. In 2003, the proxy statement report, she attended more than 75% of board and committee meetings. This while she served as the managing partner of Clegg International Consultants, LLC, which she created in 2001, the year she joined the board of IPC. (See Dodd's public financial disclosure reports with the Senate from 2001-2004 here.)
Dodd is likely more familiar with the complicated workings of AIG than he was letting on last week. This week may provide him with another opportunity to refresh his recollections.
................................................................
hmmmm this explains alot
-- don't forget the bailout to AIG is a loan, it's not a cash give-away. US Taxpayers will get paid back, or own some assets. But AIG is having trouble in this economy selling it's assets...
-- mention below of McCain-Feingold reminds me that I think complete transparency is the only answer; passing reform bill after reform bill isn't ever gonna work for these grifters who can find ways around every roadblock
.......................
White House, Congressional Hypocrites Took AIG Loot
By Bob Ellis on March 23rd, 2009 [of The Dakota Voice]
If the White House and many in Congress are going to demonize AIG for honoring their contractual obligations to pay out bonuses?something the Obama Administration, Senator Chris Dodd (D-CT) and everyone who voted for the bailout legislation authorized them to do?then perhaps these bastions of financial virtue should consider giving up their booty received from AIG.
A press release from Americans for Limited Government today calls for President Obama and other above-reproach members of congress to give up the contributions they received from AIG:
Americans for Limited Government President Bill Wilson today in a letter urged President Barack Obama and members of Congress to ?return the $4.37 million they received in campaign contributions from AIG since 1989, including the $644,218 they received in 2008.?
?If the American people are to believe all the angry words and threats coming from the White House, President Obama must return the $104,332 he received from AIG during the 2008 campaign cycle,? declared Wilson in a statement.
According to OpenSecrets, quite a few elected officials have received loot from AIG, even in the 2008 election cycle:
House Democrats
Larson, John B (D-CT) $19,750
Kanjorski, Paul E (D-PA) $12,000
Perlmutter, Edwin G (D-CO) $10,500
Rangel, Charles B (D-NY) $9,000
Neal, Richard E (D-MA) $6,500
Udall, Mark (D-CO) $5,800
Bean, Melissa (D-IL) $4,750
Mahoney, Tim (D-FL) $4,000
Crowley, Joseph (D-NY) $3,500
Murphy, Chris (D-CT) $2,800
Berman, Howard L (D-CA) $2,500
Hoyer, Steny H (D-MD) $2,000
Pomeroy, Earl (D-ND) $2,000
Visclosky, Pete (D-IN) $2,000
Weiner, Anthony D (D-NY) $2,000
Gillibrand, Kirsten E (D-NY) $1,500
Capps, Lois (D-CA) $1,000
Cooper, Jim (D-TN) $1,000
Donnelly, Joe (D-IN) $1,000
Ellsworth, Brad (D-IN) $1,000
Engel, Eliot L (D-NY) $1,000
Gordon, Bart (D-TN) $1,000
Jones, Stephanie Tubbs (D-OH) $1,000
Kind, Ron (D-WI) $1,000
Lowey, Nita M (D-NY) $1,000
Maloney, Carolyn B (D-NY) $1,000
Towns, Edolphus (D-NY) $1,000
Wilson, Charlie (D-OH) $1,000
Courtney, Joe (D-CT) $500
Hastings, Alcee L (D-FL) $500
Pelosi, Nancy (D-CA) $500
Van Hollen, Chris (D-MD) $500
Wu, David (D-OR) $500
Ackerman, Gary (D-NY) $250
Braley, Bruce (D-IA) $250
Frank, Barney (D-MA) $250
TOTAL: $105,850
House Republicans
Smith, Chris (R-NJ) $6,900
Garrett, Scott (R-NJ) $2,500
Culberson, John (R-TX) $2,300
Shays, Christopher (R-CT) $2,200
Davis, Tom (R-VA) $2,000
King, Pete (R-NY) $1,843
Baker, Richard (R-LA) $1,000
Brady, Kevin (R-TX) $1,000
Kirk, Mark (R-IL) $1,000
Tiberi, Patrick J (R-OH) $1,000
Davis, Geoff (R-KY) $500
Fossella, Vito (R-NY) $500
Gilchrest, Wayne T (R-MD) $500
Putnam, Adam H (R-FL) $500
Rogers, Mike (R-MI) $400
Ros-Lehtinen, Ileana (R-FL) $400
Bachmann, Michele Marie (R-MN) $250
Foxx, Virginia (R-NC) $250
Roskam, Peter (R-IL) $250
Castle, Michael N (R-DE) $200
Hayes, Robin (R-NC) $200
TOTAL: $25,693
Senate Democrats
Obama, Barack (D-IL) $104,332
Dodd, Chris (D-CT) $103,900
Clinton, Hillary (D-NY) $37,965
Baucus, Max (D-MT) $24,750
Biden, Joseph R Jr (D-DE) $19,975
Durbin, Dick (D-IL) $11,000
Rockefeller, Jay (D-WV) $6,500
Reed, Jack (D-RI) $6,000
Nelson, Bill (D-FL) $5,000
Landrieu, Mary L (D-LA) $2,300
Inouye, Daniel K (D-HI) $2,000
Nelson, Ben (D-NE) $1,200
Harkin, Tom (D-IA) $1,000
Lautenberg, Frank R (D-NJ) $1,000
Pryor, Mark (D-AR) $1,000
Salazar, Ken (D-CO) $1,000
Carper, Tom (D-DE) $200
Tester, Jon (D-MT) ($1,000)
TOTAL: $328,122
Senate Republicans
McCain, John (R-AZ) $59,499
Sununu, John E (R-NH) $18,500
Corker, Bob (R-TN) $7,400
Shelby, Richard C (R-AL) $4,500
Dole, Elizabeth (R-NC) $2,500
Cornyn, John (R-TX) $2,300
Grassley, Chuck (R-IA) $1,250
Wicker, Roger (R-MS) $1,100
Barrasso, John A (R-WY) $1,000
Bennett, Robert F (R-UT) $1,000
Coleman, Norm (R-MN) $1,000
Collins, Susan M (R-ME) $1,000
Enzi, Mike (R-WY) $1,000
Graham, Lindsey (R-SC) $1,000
Brownback, Sam (R-KS) $500
Crapo, Mike (R-ID) $500
Specter, Arlen (R-PA) $200
TOTAL: $104,249
Wasn?t McCain-Feingold supposed to take all the money out of the political process and turn our elected officials into shiny little angels? It appears all it did was shift the money flow around through different conduits and muzzle the little guy and little groups even further?while spitting in the face of the First Amendment.
And now we find out (HT to Real Clear Politics) that Jackie Clegg-Dodd, Senator Chris Dodd?s wife, was an ?independent? director of IPC Holdings, Ltd., a Bermuda-based company controlled by AIG.
This influence-peddling and these conflicts of interest could be greatly diminished, not by assaults on the Constitution like McCain-Feingold, but by getting government the heck out of the private sector?s business! For decades the federal government has sought more and more influence over the free market (something our limited-government Constitution does not allow), and along with it has come massive amounts of corruption. This is just one more reason to fight back against the encroachment of socialism in our country.
If one or more of these individuals is your elected representative, and they are howling about the evil AIG bonuses, you might consider contacting them and asking them if they plan on divesting themselves of this ?dirty money? they received from AIG.
The U.S. Capitol switchboard is (202) 224-3121 and you an ask the operator to connect you with your representative. You can also go to the Senate or House websites to get information on how to email your representative, or pay a visit to the nearest office in your state.
Since so many of them are so concerned about financial responsibility and fiscal restraint, I?m sure they?ll be positively beaming to hear from you.
-- mention below of McCain-Feingold reminds me that I think complete transparency is the only answer; passing reform bill after reform bill isn't ever gonna work for these grifters who can find ways around every roadblock
.......................
White House, Congressional Hypocrites Took AIG Loot
By Bob Ellis on March 23rd, 2009 [of The Dakota Voice]
If the White House and many in Congress are going to demonize AIG for honoring their contractual obligations to pay out bonuses?something the Obama Administration, Senator Chris Dodd (D-CT) and everyone who voted for the bailout legislation authorized them to do?then perhaps these bastions of financial virtue should consider giving up their booty received from AIG.
A press release from Americans for Limited Government today calls for President Obama and other above-reproach members of congress to give up the contributions they received from AIG:
Americans for Limited Government President Bill Wilson today in a letter urged President Barack Obama and members of Congress to ?return the $4.37 million they received in campaign contributions from AIG since 1989, including the $644,218 they received in 2008.?
?If the American people are to believe all the angry words and threats coming from the White House, President Obama must return the $104,332 he received from AIG during the 2008 campaign cycle,? declared Wilson in a statement.
According to OpenSecrets, quite a few elected officials have received loot from AIG, even in the 2008 election cycle:
House Democrats
Larson, John B (D-CT) $19,750
Kanjorski, Paul E (D-PA) $12,000
Perlmutter, Edwin G (D-CO) $10,500
Rangel, Charles B (D-NY) $9,000
Neal, Richard E (D-MA) $6,500
Udall, Mark (D-CO) $5,800
Bean, Melissa (D-IL) $4,750
Mahoney, Tim (D-FL) $4,000
Crowley, Joseph (D-NY) $3,500
Murphy, Chris (D-CT) $2,800
Berman, Howard L (D-CA) $2,500
Hoyer, Steny H (D-MD) $2,000
Pomeroy, Earl (D-ND) $2,000
Visclosky, Pete (D-IN) $2,000
Weiner, Anthony D (D-NY) $2,000
Gillibrand, Kirsten E (D-NY) $1,500
Capps, Lois (D-CA) $1,000
Cooper, Jim (D-TN) $1,000
Donnelly, Joe (D-IN) $1,000
Ellsworth, Brad (D-IN) $1,000
Engel, Eliot L (D-NY) $1,000
Gordon, Bart (D-TN) $1,000
Jones, Stephanie Tubbs (D-OH) $1,000
Kind, Ron (D-WI) $1,000
Lowey, Nita M (D-NY) $1,000
Maloney, Carolyn B (D-NY) $1,000
Towns, Edolphus (D-NY) $1,000
Wilson, Charlie (D-OH) $1,000
Courtney, Joe (D-CT) $500
Hastings, Alcee L (D-FL) $500
Pelosi, Nancy (D-CA) $500
Van Hollen, Chris (D-MD) $500
Wu, David (D-OR) $500
Ackerman, Gary (D-NY) $250
Braley, Bruce (D-IA) $250
Frank, Barney (D-MA) $250
TOTAL: $105,850
House Republicans
Smith, Chris (R-NJ) $6,900
Garrett, Scott (R-NJ) $2,500
Culberson, John (R-TX) $2,300
Shays, Christopher (R-CT) $2,200
Davis, Tom (R-VA) $2,000
King, Pete (R-NY) $1,843
Baker, Richard (R-LA) $1,000
Brady, Kevin (R-TX) $1,000
Kirk, Mark (R-IL) $1,000
Tiberi, Patrick J (R-OH) $1,000
Davis, Geoff (R-KY) $500
Fossella, Vito (R-NY) $500
Gilchrest, Wayne T (R-MD) $500
Putnam, Adam H (R-FL) $500
Rogers, Mike (R-MI) $400
Ros-Lehtinen, Ileana (R-FL) $400
Bachmann, Michele Marie (R-MN) $250
Foxx, Virginia (R-NC) $250
Roskam, Peter (R-IL) $250
Castle, Michael N (R-DE) $200
Hayes, Robin (R-NC) $200
TOTAL: $25,693
Senate Democrats
Obama, Barack (D-IL) $104,332
Dodd, Chris (D-CT) $103,900
Clinton, Hillary (D-NY) $37,965
Baucus, Max (D-MT) $24,750
Biden, Joseph R Jr (D-DE) $19,975
Durbin, Dick (D-IL) $11,000
Rockefeller, Jay (D-WV) $6,500
Reed, Jack (D-RI) $6,000
Nelson, Bill (D-FL) $5,000
Landrieu, Mary L (D-LA) $2,300
Inouye, Daniel K (D-HI) $2,000
Nelson, Ben (D-NE) $1,200
Harkin, Tom (D-IA) $1,000
Lautenberg, Frank R (D-NJ) $1,000
Pryor, Mark (D-AR) $1,000
Salazar, Ken (D-CO) $1,000
Carper, Tom (D-DE) $200
Tester, Jon (D-MT) ($1,000)
TOTAL: $328,122
Senate Republicans
McCain, John (R-AZ) $59,499
Sununu, John E (R-NH) $18,500
Corker, Bob (R-TN) $7,400
Shelby, Richard C (R-AL) $4,500
Dole, Elizabeth (R-NC) $2,500
Cornyn, John (R-TX) $2,300
Grassley, Chuck (R-IA) $1,250
Wicker, Roger (R-MS) $1,100
Barrasso, John A (R-WY) $1,000
Bennett, Robert F (R-UT) $1,000
Coleman, Norm (R-MN) $1,000
Collins, Susan M (R-ME) $1,000
Enzi, Mike (R-WY) $1,000
Graham, Lindsey (R-SC) $1,000
Brownback, Sam (R-KS) $500
Crapo, Mike (R-ID) $500
Specter, Arlen (R-PA) $200
TOTAL: $104,249
Wasn?t McCain-Feingold supposed to take all the money out of the political process and turn our elected officials into shiny little angels? It appears all it did was shift the money flow around through different conduits and muzzle the little guy and little groups even further?while spitting in the face of the First Amendment.
And now we find out (HT to Real Clear Politics) that Jackie Clegg-Dodd, Senator Chris Dodd?s wife, was an ?independent? director of IPC Holdings, Ltd., a Bermuda-based company controlled by AIG.
This influence-peddling and these conflicts of interest could be greatly diminished, not by assaults on the Constitution like McCain-Feingold, but by getting government the heck out of the private sector?s business! For decades the federal government has sought more and more influence over the free market (something our limited-government Constitution does not allow), and along with it has come massive amounts of corruption. This is just one more reason to fight back against the encroachment of socialism in our country.
If one or more of these individuals is your elected representative, and they are howling about the evil AIG bonuses, you might consider contacting them and asking them if they plan on divesting themselves of this ?dirty money? they received from AIG.
The U.S. Capitol switchboard is (202) 224-3121 and you an ask the operator to connect you with your representative. You can also go to the Senate or House websites to get information on how to email your representative, or pay a visit to the nearest office in your state.
Since so many of them are so concerned about financial responsibility and fiscal restraint, I?m sure they?ll be positively beaming to hear from you.
the bonuses are pennies compared to $170 Billion in AIG aid, or trillions in total aid and stimulus by Congress and the Fed---those much bigger picture and more important stuff.
Still, the populist outrage does indicate something bigger too, as Steve D alludes to.
Frank Rich, in his recent column had interesting things to say about it, better than I can. However, I think short attention-span and new media cycles will cause it fade faster than we think. Tho the simmering rage will still be around...
Frank Rich:
Six weeks ago I wrote in this space that the country?s surge of populist rage could devour the president?s best-laid plans, including the essential Act II of the bank rescue, if he didn?t get in front of it. The occasion then was the Tom Daschle firestorm. The White House seemed utterly blindsided by the public?s revulsion at the moneyed insiders? culture illuminated by Daschle?s post-Senate career. Yet last week?s events suggest that the administration learned nothing from that brush with disaster.
David Axelrod tried to rationalize the lagging response when he told The Washington Post last week that ?people are not sitting around their kitchen tables thinking about A.I.G.,? but are instead ?thinking about their own jobs.? While that?s technically true, it misses the point. Of course most Americans don?t know how A.I.G. brought the world?s financial system to near-ruin or what credit-default swaps are. They may not even know what A.I.G. stands for. But Americans do make the connection between their fears about their own jobs and their broad understanding of the A.I.G. debacle.
They know that the corporate bosses who may yet lay them off have sometimes been as obscenely overcompensated for failure as Wall Street?s bonus babies. As The Wall Street Journal reported last week, chief executives at businesses as diverse as Texas Instruments and the home builder Hovnanian Enterprises have received millions in bonuses even as their companies? shares have lost more than half their value.
Since Americans get the big picture of this inequitable system, that grotesque reality dwarfs any fine print. That?s why it doesn?t matter that the disputed bonuses at A.I.G. amount to less than one-tenth of one percent of its bailout. Or that CNBC ? with 300,000 viewers on a typical day by Nielsen?s measure ? is a relatively minor player in the crash. Or that Edward Liddy had nothing to do with A.I.G.?s collapse, or that John Thain, of the celebrated trash can, arrived after, not before, others wrecked Merrill Lynch.
These prominent players are just the handiest camera-ready triggers for the larger rage.
