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View Full Version : Dodd knew way more than he let on



Eric Johnson
03-25-2009, 10:24 AM
Tsk tsk

Eric
************

http://www.realclearpolitics.com/articles/2009/03/dodds_wife_a_former_director_o.html

March 23, 2009
Dodd's Wife a Former Director of Bermuda-Based IPC Holdings, an AIG Controlled Company
By Kevin Rennie

No wonder Senator Christopher Dodd (D-Conn) went wobbly last week when asked about his February amendment ratifying hundreds of millions of dollars in bonuses to executives at insurance giant AIG. Dodd has been one of the company's favorite recipients of campaign contributions. But it turns out that Senator Dodd's wife has also benefited from past connections to AIG as well.

From 2001-2004, Jackie Clegg Dodd served as an "outside" director of IPC Holdings, Ltd., a Bermuda-based company controlled by AIG. IPC, which provides property casualty catastrophe insurance coverage, was formed in 1993 and currently has a market cap of $1.4 billion and trades on the NASDAQ under the ticker symbol IPCR. In 2001, in addition to a public offering of 15 million shares of stock that raised $380 million, IPC raised more than $109 million through a simultaneous private placement sale of 5.6 million shares of stock to AIG - giving AIG a 20% stake in IPC. (AIG sold its 13.397 million shares in IPC in August, 2006.)

BonMallari
03-25-2009, 10:49 AM
Follow the money trail it usually leads to the dirty politician...money buys influence and corruption..lobbyists are starting to be the downfall of our govt because they are well financed and can buy more influence than you or I can with a phone call or letter

YardleyLabs
03-25-2009, 12:40 PM
Tsk tsk

Eric
************

http://www.realclearpolitics.com/articles/2009/03/dodds_wife_a_former_director_o.html

March 23, 2009
Dodd's Wife a Former Director of Bermuda-Based IPC Holdings, an AIG Controlled Company
By Kevin Rennie

No wonder Senator Christopher Dodd (D-Conn) went wobbly last week when asked about his February amendment ratifying hundreds of millions of dollars in bonuses to executives at insurance giant AIG. Dodd has been one of the company's favorite recipients of campaign contributions. But it turns out that Senator Dodd's wife has also benefited from past connections to AIG as well.

From 2001-2004, Jackie Clegg Dodd served as an "outside" director of IPC Holdings, Ltd., a Bermuda-based company controlled by AIG. IPC, which provides property casualty catastrophe insurance coverage, was formed in 1993 and currently has a market cap of $1.4 billion and trades on the NASDAQ under the ticker symbol IPCR. In 2001, in addition to a public offering of 15 million shares of stock that raised $380 million, IPC raised more than $109 million through a simultaneous private placement sale of 5.6 million shares of stock to AIG - giving AIG a 20% stake in IPC. (AIG sold its 13.397 million shares in IPC in August, 2006.)

So, five years ago, Dodd's wife was a director of a company in which AIG purchased and subsequently sold a 20% interest. Neither she nor AIG has held any interest in the company for three years. Yep, that makes it clear to me. It obviously explains Dodd's actions last month....:rolleyes::rolleyes::rolleyes:

dixidawg
03-25-2009, 12:46 PM
Well,,,,,, What DOES explain Dodd's actions?

I didn't put it in there,,,

Well, maybe I did,,,,

But they told me to......:rolleyes:

Goose
03-25-2009, 01:35 PM
Dodd's waist deep in the evil that corrupts Washington.

sbakerz71
03-25-2009, 03:03 PM
Not to highjack this thread but,I have a question about AIG.

Since we now own 80% of AIG will it now be illegal for them to make political contributions?

If this has been brought up before I apologize.

Eric Johnson
03-25-2009, 03:43 PM
Well....

1. Sen Chris Dodd received almost $225,000 in donations from AIG in 2008. Let's see, that made AIG the 4th largest contributor.

2. Dodd's wife may not have been on the board on IPC last year but she was certainly comfortable with the inner workings of her firm and AIG.

I merely said that for all of Dodd's mumblings, he probably knew far more about the inner workings of AIG than he'd let on. Are you defending him and...which position are you defending....that he did know about the bonuses or that he didn't know about the bonuses? He's argued both.

Eric

BrianW
03-29-2009, 11:46 AM
I wrote my Senator, who is on the Ethics Committee, two weeks ago, requesting him to start an investigation into Sen. Dodd's conduct. Usually, I get a quick reply to any correspondence.

So far, the silence is deafening! I guess it's hard to investigate "ethics" since there apparently are none.

kjrice
03-29-2009, 01:35 PM
I wrote my Senator, who is on the Ethics Committee, two weeks ago, requesting him to start an investigation into Sen. Dodd's conduct. Usually, I get a quick reply to any correspondence.

So far, the silence is deafening! I guess it's hard to investigate "ethics" since there apparently are none.
Frank, Dood, and Meeks all need a good kick in the arse.

dixidawg
03-29-2009, 01:37 PM
I think Frank might enjoy it though....

dixidawg
03-30-2009, 10:23 AM
http://www.washingtontimes.com/news/...onate-to-dodd/ (http://www.washingtontimes.com/news/...onate-to-dodd/)

The message in the Nov. 17, 2006, e-mail from Joseph Cassano, AIG Financial Products chief executive, was unmistakable: Mr. Dodd was "next in line" to be chairman of the Senate Banking, Housing and Urban Affairs Committee, which oversees the insurance industry, and he would "have the opportunity to set the committee's agenda on issues critical to the financial services industry.

"Given his seniority in the Senate, he will also play a key role in the Democratic Majority's leadership," Mr. Cassano wrote in the message, obtained by The Washington Times.

Mr. Dodd's campaign quickly hit pay dirt, collecting more than $160,000 from employees and their spouses at the AIG
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Now, two years later, Mr. Dodd has emerged as a central figure in the government's decision to let executives at the now-failing AIG collect more than $218 million in bonuses, according to the Connecticut attorney general - even as the company was receiving billions of dollars in assistance from the Troubled Asset Relief Program (TARP).

Franco
03-30-2009, 10:56 AM
I wrote my Senator, who is on the Ethics Committee, two weeks ago, requesting him to start an investigation into Sen. Dodd.



Lets don't forget the special finance rate he received on his home mortgage from financially troubled/bailed out Country Wide!