SLABBED Daily – April 21

You really have to see it to believe it!  Last week, when Judge Duval issued an order saying that  he would use the Plaintiffs’ “chart of objections” to the governments’ exhibits as soon as the government provided him a copy,  he clearly wasn’t happy with the delay or the chart.order-423

It must have taken him all weekend as there were 1482 exhibits when he ruled on every single one in an Order yesterday – in chart form!

Editillia left a comment about all the press the case has been getting; so, I climbed his Ladder and brought a few back.

NYT: Civil lawsuit over Katrina begins; For the Greater Glory: Lawsuit v Corps of Engineers; CS Monitor: “First real trial” about Katrina under way; LA Times: Katrina negligence case goes to trial Thanks, pal!

Surely not! First, the LA Times reports 20 criminal investigations opened into bailout banks and then Continue reading “SLABBED Daily – April 21”

This is what $enator Chri$ Dodd was doing back when he was making sure the AIG folks were getting their bonuses


And of course the Panda is hot on his trail. Continue reading “This is what $enator Chri$ Dodd was doing back when he was making sure the AIG folks were getting their bonuses”

Making ends meet – super-size fries and AIG bonuses

Distraction, to some, has always been considered the fourth D in the insurance strategy to maximize profits at the expense of policyholders – delay, deny, deceive – and distract.

I guess I’m just in the minority here, but I’m having a bit of trouble getting exercised about $165 million (just to put that into perspective, the movie sequel The Chronicles of Narnia: Prince Caspian had a budget of $200 million) in bonuses to AIG employees…

It’s curious, but not particularly surprising by now, the stuff that folks in Congress get selectively pissed off about, the stuff that media (both mainstream and blogosphere) go selectively wall-to-wall over, versus the stuff they don’t.

You’ll pardon me if I’m not particularly moved much at all by the latest round of AIG sturm-und-drang, hand-wringing, navel-gazing, finger-pointing and speechifying. Oh, and about the still-free bin Laden, and the still-free anthrax killer…well, don’t get me started. Guess those things don’t much matter.

The Brad Blog has a point.  Senator Dodd has another.

According to Dodd, officials at Treasury expressed concern that if the government were to prohibit payouts, it risked being sued by companies like AIG, which had contracts stipulating that bonuses were to be paid.

At the urging of Treasury officials, Dodd modified a clause he had previously inserted into the stimulus that prohibited bonuses from being issued by bailed-out companies. An exemption was added to allow bonuses that applied to in-place contracts.

graph-children-w-out-employed-parent2Slabbed adds a third.  Treasury is clearly out of touch with the millions of Americans whose idea of a bonus is super-size fries!

The graph at the right shows the percentage of children living in families where no parent has full-time, year-round employment – starting from left to right Connecticut, New York, the US average, and continuing with the Katrina states: Alabama, Louisiana and Mississippi.

WTF came up with a concern about “companies like AIG” suing the government? You can bet your bonus it wasn’t anyone who lost everything when the Corps-built levees didn’t hold or someone screwed by AIG’s handling of their NFIP claim. Continue reading “Making ends meet – super-size fries and AIG bonuses”

News Town Hall Meeting Style: Dodd Open to Compromise

Anita Lee of the Sun Herald heard the same thing I did, that Senator Dodd is ready to bargain. More observations tomorrow:

House leaders gathered with U.S. Rep. Gene Taylor Monday afternoon to say they will continue to support his efforts to pass multiple-peril insurance legislation for coastal residents. 

House Speaker Nancy Pelosi indicated that if the U.S. Senate is unwilling to pass a bill offering wind coverage through the National Flood Insurance Program, a model project including Mississippi might be possible.

They said U.S. Sen. Chris Dodd, D-Conn., chairman of the powerful Senate Banking Committee, has indicated he is open to discussing a compromise measure. Continue reading “News Town Hall Meeting Style: Dodd Open to Compromise”