Mar
24
2009
2

Senate to discreetly shut down House AIG bill of attainder.

House to gratefully let them.

They may call it “delay,” but they mean “eliminate” – and the Washington Post is happy to assist with putting this story on the seventh page.

Senate Will Delay Action on Punitive Tax on Bonuses

Jarred by a cool reception from the White House and fears of unintended consequences across the financial world, Senate leaders are likely to delay until late next month legislation to punitively tax bonuses at banks and investment firms that receive federal aid.

Senate Majority Leader Harry M. Reid (D-Nev.) announced last week that the Senate would move ahead with the legislation as soon as possible, and he attempted to bring the bill to the floor Thursday night. But he revised that timetable yesterday, saying that the chamber will spend this week debating a national-service bill before turning to a long-scheduled showdown over the budget for fiscal 2010. With just two weeks to go until Congress departs for a spring recess, action on the tax measure would be unlikely before late April.

That will effectively kill the bill, because everyone in Washington is betting that a month should be enough time for the populace to have something else besides the Democrat-inspired and Democrat-encouraged AIG bonus PR fiasco to focus upon; which is not a bad bet, actually. Already people are starting to notice that the Democrats’ House bill has a good deal of faux-populist outrage associated with it; and as Glenn Reynolds over in Forbes is pointing out, the Democrats are going to be soon having to hit up the very people that they’re currently demonizing for campaign contributions. Time to let this story die, and that’s why there’s a Senate in the first place. (more…)

Mar
19
2009
5

A recap of the AIG Bonus Blame Party.

So, let us review the bidding on the AIG bonus scandal, and who’s being blamed for it.

The Senate, in the person of Senator Chris Dodd (D-CT), is blaming the executive branch, pretty explicitly.

The House, in the person of Speaker Nancy Pelosi (D-CA), is likewise blaming the executive branch – but she’s also blaming the Senate.

The White House doesn’t want to blame anybody… but AIG is like a suicide bomber (H/T Hot Air), and a “senior government official” is just plain “outraged” at that awful Congress for passing this.  But Obama’s not about pointing fingers about how it could be the Republican’s fault – which is good, because as Ace points out our only contribution to this mess was Senator Olympia Snowe’s (R-ME) language in the debt bill that would have prevented these bonuses in the first place (that was before Dodd/Geithner/The White House/The Easter Bunny took them out, of course).  Nope.  It’s all Obama’s responsibility – but not his fault!
(more…)

Mar
19
2009
3

Scott Murphy (D Cand, NY-20): ‘One of them.’

Jim Tedisco reminds us that Murphy may have an inclination towards giving bonuses to companies losing money…

…although that may not be an entirely fair comparison. After all, back then Murphy’s bonus scheme didn’t involve your money. I wonder if he’s still for passing that miscalled “stimulus” bill – Tedisco is on the record as opposing it, mind you – and I wonder if Murphy is going to comment on his stance on the AIG payoffs further. Or at all, really.

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Moe Lane

Crossposted to RedState.

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