Thursday, January 29, 2009

Senate Banking Chairman Dodd Wants to Confiscate Wall Street Bonuses

In a post that appeared on The Hill blog late Thursday, Alexander Bolton reports Sen. Chris Dodd (D-Conn.) has vowed to use all legal means available to allow the government to forcefully confiscate Wall Street bonuses paid out at the end of last year.

Dodd, the chairman of the Senate Banking Committee, told reporters that he would press the Treasury Department to recoup the more than $18 billion in Wall Street bonuses paid out in 2008, according to The Hill.

The Hill report seems to indicate Dodd intends to confiscate bonuses paid whether or not taxpayer money was involved in those bonuses.
“If you do it I’m going to bring you before the committee and demand to know why you have the right to give those kind of benefits to people in the midst of this kind of crisis when American [taxpayers] are writing checks to underwrite this kind of activity,” Dodd said.
Dodd's remarks are particularly chilling as government, now under full control of Democrats, seeks to entrench itself throughout the free market in a wave of nationalism.

The New York state comptroller could not determine if taxpayer money was used to pay Wall Street bonuses in 2008.

Read it.

Labels: ,


Post a Comment

<< Home