AP: Key Health Care Senators Have Industry Ties

I meant to post the story on Friday but I wasn’t able to get to it so figured I’d lead off with today… The Associated Press reported last week on the ties between several key Senators and the health care industry. Among them Connecticut’s own Chris Dodd.

Sen. Dodd’s wife Jackie Clegg Dodd sits on the boards of four pharmaceutical companies, Javelin Pharmaceuticals Inc., Cardiome Pharma Corp., Brookdale Senior Living and Pear Tree Pharmaceuticals.

Mrs. Dodd last year was one of the most highly compensated non-employee members of the Javelin Pharmaceuticals Inc. board, on which she has served since 2004. She earned $32,000 in fees and $109,587 in stock option awards last year, according to the company’s SEC filings.

Mrs. Dodd earned $79,063 in fees from Cardiome in its last fiscal year, while Brookdale Senior Living gave her $122,231 in stock awards in 2008, their SEC filings show. She earned no income from her post as a director for Pear Tree Pharmaceuticals but holds up to $15,000 in stock in Pear Tree, which describes itself as a development-stage pharmaceutical company focused on the needs of aging women.

The annual financial disclosure reports for members of Congress are less precise. They only require that assets and liabilities be listed in ranges of values.

Dodd sought a 90-day extension to file his report covering last year, giving him until mid-August to submit his report, but released his report Friday to The Associated Press.

Bryan DeAngelis, Dodd’s spokesman, said, “Jackie Clegg Dodd’s career is her own; absolutely independent of Senator Dodd, as it was when they married 10 years ago. The senator has worked to reform our health care system for decades, and nothing about his wife’s career is relevant at all to his leadership of that effort.”

DeAngelis said that Mrs. Dodd has hired a personal ethics lawyer to avoid any conflicts of interest and is not a lobbyist.

In addition to Sen Dodd. Democrats Jay Rockefeller and Tom Harkin and Republicans Tom Coburn, Judd Gregg, John Kyl and Orrin Hatchn are mentioned in the AP story.

I’m not going not to draw any conclusions, my advice is to read the entire article and draw your own conclusions… I have fundamental problem with Sen Dodd, or any Senator for that matter,  authoring legislation that may directly effect companies on whose boards their spouse sits.

The the bigger story within the story may be the APs passing mention of Sen. Dodd’s magically appreciating Irish Cottage… Michelle Malkin has the deatails on that here.

The last Grownup: John Kyl Puts the Breaks on Rush to Tax AIG Bonuses

We got into this mess because Congress and the administration rushed through the Stimulus bill without sufficient time for legislators to review and debate the bill. Now Congress is trying to compound one set of mistakes with another by rushing through a bill to tax the retention bonuses paid to AIG employees. Fortunately there’s at least one grownup left on capitol hill:

Sen. Jon Kyl, the Republicans’ vote counter, blocked Democratic efforts Thursday evening to bring up the Senate version of the tax bill to recoup most of the $165 million paid out by AIG last weekend and other bonuses in 2009. The House had swiftly approved its version of the bill earlier in the day.

By rushing, Kyl said, Democrats were letting populist outrage trump informed decision making in the Senate, which is supposed to be insulated from the pressures of public passion.

“I don’t believe that Congress should rush to pass yet another piece of hastily crafted legislation in this very toxic atmosphere, at least without understanding the facts and the potential unintended consequences,” Kyl said on the Senate floor. “Frankly, I think that’s how we got into the current mess.”

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How to impose those taxes without running afoul of the Constitution or the law is a dispute that has Republicans urging a go-slow approach. Doing so, of course, would drag out the Democratic discomfort over administration missteps and provide plenty of time for the GOP and others to question Geithner’s performance.

Bravo Zulus for Senator Kyl, Congress needs to slow down, cool off and think this through before they pass a bill that has unintended consequences.

Related

• Countrywide sues AIG unit over its failure to cover loan losses – Los Angeles Times
• ‘Don’t wear anything that says AIG on it’: Under-fire insurer gives employees security tips as fury over bonuses grows – Daily Mail
• AIG bonus outrage has employees living in fear – Associated Press
• Banker fury over tax ‘witch-hunt’ – Financial Times
• Sanity: Kyl blocks bill on AIG bonuses to give Senate time to think things over – Hot Air
• An Adult Steps up and Takes Control – Wizbang
• Are We A Banana Republic? – Powerline