March 18th, 2009
by
Editor: Scott
After inserting the provision into the bailout to allow AIG type bonuses into the bailout law - Chris Dodd now wants to tax them at 90% because Congress wasn’t aware about such bonuses!!!
Is anyone even paying attention any more???
Senator Chris Dodd (D-Conn.) on Monday night floated the idea of taxing American International Group bonus recipients so the government could recoup the $450 million the company is paying to employees in its financial products unit. Within hours, the idea spread to both houses of Congress, with lawmakers proposing an AIG bonus tax.
While the Senate constructed the $787 billion stimulus last month, Dodd unexpectedly added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009,” which exempts the very AIG bonuses Dodd and others are seeking to tax. The amendment is in the final version and is law.
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Finance, Politics, Taxation |
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March 10th, 2009
by
Editor: Scott
The statesman that was supposed to make the world like us accepted pens made from a historic ship to match the “Resolute Desk” (yes in the movie National Treasure)… gave a “historic” gift of DVDs (that probably won’t play in the UK due to regional encoding)…Michelle did even worse - taking a first edition book and framed commission for the HMS Resolute and giving a couple of Marine 1 models from the gift shop…
These aren’t tourists on the white house tour! They are the heads of state of our closest ally!!
As he headed back home from Washington, Gordon Brown must have rummaged through his party bag with disappointment.
Because all he got was a set of DVDs. Barack Obama, the leader of the world’s richest country, gave the Prime Minister a box set of 25 classic American films - a gift about as exciting as a pair of socks.
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Politics |
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March 9th, 2009
by
Editor: Scott
As the Dow continues to drop day after day, I thought it might be telling to look at the market’s reaction to several historical events… (Note elections end after the market closes)
G. W. Bush Elected Nov 7, 2000
11/07/00 - 10,952
11/08/00 - 10,907
9-11-01
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Finance, Liberty, Politics, Taxation |
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