Wednesday, March 18, 2009

What happens when you don't read a bill? You get AIG bonuses!

It's clear that Pres Obama and Dems Congress did not read the stimulus bill.

Otherwise, they would have read that the stimulus bill was making the AIG bonuses possible:

"From page H1412 of the Final Stimulus Bill, “SEC. 111. EXECUTIVE COMPENSATION AND CORPORATE GOVERNANCE:

'(iii) The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary.”

This amendment provides an exception for contractually obligated bonuses agreed on before Feb. 11, 2009, which exempts the very AIG bonuses Obama is condemning every single chance he gets. The amendment is in the final version and is law.

That's the amendment that Dodd got placed in the Obama stimulus bill.

You know, the one that passed with no House Republican votes, and only three Senate Republican votes.

Way to go, guys." (NRO)

We do remember Pres Obama saying that this bill had to be signed or the economy would collapse.

My question: Why didn't they read it?

I recall saying that we were proud of Rep Boehner and the House Republicans.

We are really proud of them today!



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