foolscap001 (foolscap001) wrote,
foolscap001
foolscap001

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Gee, maybe they should have read it...

The Obamessiah is ranting about AIG bonuses--but the stimulus bill, that absolutely had to be rushed through so quickly nobody had a chance to read it, turns out to include the following, courtesy of "friend of Angelo" Chris Dodd (D-CT):

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.


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