Leaked GOP Talking Points: Blame Dodd For AIG Mess

babylonsister

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Thu Mar-19-09 12:37 PM
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Leaked GOP Talking Points: Blame Dodd For AIG Mess

http://www.huffingtonpost.com/2009/03/19/dodd-democrats-targeted-f_n_176848.html

Dodd, Democrats Targeted For AIG Mess In GOP Talking Points

The Republican Party is going to great lengths to tie Democrats -- and Sen. Chris Dodd in particular -- to the lavish bonuses issued by bailed-out insurance giant AIG. The GOP is sending out emails targeting the Connecticut Democrat and passing around talking points painting him and the Democratic Party as stooges of big business.

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THE TALKING POINTS ISSUED BY THE REPUBLICAN CONFERENCE:

All - below are a few basic points on AIG that may be useful. The last bullet is the latest update on Senator Dodd's involvement in the AIG bonus scandal. --Ryan

· $170 billion - total amount AIG received in bailout funds

· Approximately 400 executives and traders at AIG received $165 million in bonuses.

· Average bonus received if $165 million in bonuses split evenly between executives: $412,500

· An amendment to the stimulus sponsored by Senators Snowe and Wyden "would have forced AIG to pay nearly $58 million in taxes on top executive bonuses." The amendment passed the Senate by voice vote, but was stripped from the final stimulus bill by Democrats in a closed door meeting.

Senator Grassley on the stimulus conference committee: "Being named a conferee to the conference committee for the American Recovery and Reinvestment Act meant you were invited to the final, formal meeting late on February 11, where the conference report was announced after it was finalized. This meeting was a photo op that took place hours after Majority Leader Reid announced that the Democrats had reached a deal. Every Republican on the conference committee was left out of the negotiations and consultations entirely. The fact is that the bill the President signed, which protected the AIG bonuses and others, was written behind closed doors by Democratic leaders of the House and Senate. There was no transparency, so the only way the public will ever know who added the language to protect bailout company bonuses is if someone from the small group of Democrats in the room says so."

· After removing the Wyden-Snowe amendment approved in the Senate, Democrats then inserted an amendment similar to one originally proposed by Senator Dodd that provided an "'exception for contractually obligated bonuses agreed on before Feb. 11, 2009' -- a provision that exempts the AIG bonuses Congress is now trying to recoup."

· Democrats did not put the "American Recovery and Reinvestment Act" online for five days of public review and comment as President Obama pledged to do with legislation during his campaign.

· Dodd initially denied having anything to do with the provision that allowed AIG bonuses. He recanted yesterday after Treasury officials told CNN on background that they had been aware of the provision and worked with Dodd to insert the language into the legislation. Dodd would not answer questions as to whether Secretary Geithner knew about the bonus language. President Obama yesterday said that Geithner was "making all the right moves" and that he, the President, was ultimately responsible.. The cover of the Hartford Courant leads today with the headline: "Dodd's Flip-Flop."