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March 24, 2009
DDDB Twofer Tuesday
Shouldn't Congresswoman Yvette Clarke Tax Bruce Ratner at 90%
Congresswoman Yvette Clarke was one of the co-sponsors of the approved House bill that would levy a 90% tax on the AIG bonuses. Those bonuses reportedly amount to about $165 milllion.
But Congresswoman Clarke has been silent about the counterparties AIG paid billions to, including Barclays Bank, which received $8.5 billion in taxpayer bailout funds funneled through AIG. Does she really oppose the bonuses but support AIG funneling 400 million bailout dollars to Bruce Ratner and his arena?
Barney Frank Had Said Naming-rights Would Be "Off Limits" For TARP Beneficiaries
New Jersey Congressman Pascrell's letter to Treasury Secretary Tim Geithner calls for an end to the Barclays naming-rights deal for Bruce Ratner's billion dollar Barclays Center arena because Barclays is a recipient of taxpayers' TARP funds funneled through AIG. Pascrell's letter reminds us of a quote from House Financial Services Committee Chair Barney Frank as reported in the February 13th New York Daily News:
...Naming rights deals will be off limits for firms taking taxpayer money in the next $350 billion installment of bailout money for banks and financial institutions.
"I'm confident you won't see anything like that going forward," in the next bailout round, Frank said.
We've gone forward. Now what?
Posted by eric at March 24, 2009 12:59 PM