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Thread: Dodd knew way more than he let on

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    Default Dodd knew way more than he let on

    Tsk tsk

    Eric
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    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.)

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    Senior Member BonMallari's Avatar
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    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
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    Senior Member YardleyLabs's Avatar
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    Quote Originally Posted by Eric Johnson View Post
    Tsk tsk

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

    http://www.realclearpolitics.com/art...irector_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....

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    Well,,,,,, What DOES explain Dodd's actions?

    I didn't put it in there,,,

    Well, maybe I did,,,,

    But they told me to......

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    Senior Member Goose's Avatar
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    Dodd's waist deep in the evil that corrupts Washington.

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    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.
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    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

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    Senior Member BrianW's Avatar
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    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.
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    Senior Member kjrice's Avatar
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    Quote Originally Posted by BrianW View Post
    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.
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    I think Frank might enjoy it though....

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