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Pelosi Tries To Put Toothpaste Back In The Tube

Now that Senator Chris Dodd (D- Countrywide) has admitted to amending the stimulus legislation so that the AIG bonus payments could be made House Speaker Nancy Pelosi is adding the finishing touches to the rankest display of craveness and hypocrisy exhibited in Washington in years.

Speaker Nancy Pelosi issued the following statement tonight on legislation the House will vote on tomorrow to hold companies, including American International Group (AIG), accountable for the bonuses that were paid to their executives. The legislation will recover the bulk of these bonuses by taxing them at a rate of 90 percent. Below the Speaker's statement is a brief fact sheet on HR 1586 and click here to view the text of the bill.

Of course the upcoming FNMA and Freddie Mac bonuses are no where mentioned in this targeted hit piece of legislation that brings new meaning to the moniker "duplicitous pol". I guess we should have known that when President Obama claimed that 95% of taxpayers would get a tax break he really did intend to hammer just a special few.

Here's to hoping Pelosi's bill is heard by the Supreme Court and AIG (i.e. the U S government) gets saddled with double or treble damages. It is obvious in this instance that Congress and the Obama administration have a difference of opinion on who was responsible for what in this sordid affair (witness Dodd tossing Treasury under the bus), but guess who is the real victim? The taxpayer, brought down again by the law of unintended consequences and the well nigh moronic behavior of Democrats in Washington.


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Comments (9)

You know AIG had contract o... (Below threshold)

You know AIG had contract obligations to pay these bonuses. The idea that Congress would consider interfering with these contracts retroactively should be a grave concern for every one of us. And the idea that the government (with the support of a populist outrcry) would target a small group of individuals for a punitive 90% tax is extremely frightening to me.

I have a better idea. How about a 90% tax on porky earmark money?

Not only were these bonuses... (Below threshold)

Not only were these bonuses already written contracts before the TARP legislation, but there were no objections by the Dem controlled Congresses of 2008 and 2009, and Obama ok'ed them as he promoted the legislation and signed it. (Remember, Obama voted for the original TARP legislation, earning the praise of his fellow Dems and the MSM for his 'quiet leadership' in crafting the bill. He claimed on the Sunday morning shows that the legislation would have to meet his requirements. He also approved of and signed the 'stimulus' legislation which included Dodd's little contibution.)

I guess the Constitution is... (Below threshold)

I guess the Constitution is no longer operative under Her Majesty Pelosi. Or is it that she's so stupid she never took Civics 101. On the bright side, she's 100% behind our disabled vets, as long as it doesn't cost any money.

Will Obamalala and Dudd and... (Below threshold)

Will Obamalala and Dudd and those that got "bonuses" from AIG pay them back? As far as the execs at AIG, I hope they sue the government taking it all the way to the SCOTUS. I want to see this hung around all these outraged liberal's, and Obamalala's, necks like a rotting chicken hung around a dogs neck for killing chickens. I think that dogs however are smarter and learn quicker.

REMEMBER...... (Below threshold)


If they get away with using Legislation to punish individuals who had VALID contracts RETROACTIVELY...then they can do the same damn thing to EVERY ONE OF YOU!

Say something, do something, BLOG something that they don't like and they can tax YOU at 100% too!!

The rule of law, the Constitution, and common decency (not to mention commen SENSE) are nowhere to be found in Washington.

This is a BIG step towards tyranny.

This is a BIG step towar... (Below threshold)

This is a BIG step towards tyranny.

This administration and this Congress are most assuredly leading us on The Road to Serfdom. They haven't a wit of this country's foundation,nor the principles thereof.

Those of you who are awake are witnesses to history. The rest of you deserve what you get. But, your children will ask you, "What did you do?"

Chris Dudd said:"I... (Below threshold)

Chris Dudd said:

"I was completely unaware of these AIG bonuses until I learned of them last week."

Nice job vetting the AIG bailout Chris! Glad to see that you did your homework! You should help Obamer fill out his cabinet.

Turds for brains.

They are now starting to ea... (Below threshold)

They are now starting to eat their own. Even Lee Lee at blue wants to hang Dodd now, and has sunk to the lowest and rankest blasphemy possible, calling him a Republican!

It'd almost be funny if it ... (Below threshold)

It'd almost be funny if it weren't so pathetic, Epador.

I think it's going to suck to be a Democrat in another 6 months, if Obama doesn't shape up. Poor sap, I think he's figuring out that just wanting to be President and being able to fool the voters into getting you into office doesn't make you qualified to be President...






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