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| Dodd facing fresh political firestorm |
| 2009-03-19 |
| Sen. Chris Dodd (D-Conn.) looks like he may be facing a fresh political firestorm. Dodd just admitted on CNN that he inserted a loophole in the stimulus legislation that allowed million-dollar bonuses to insurance giant AIG to go forward -- after previously denying any involvement in writing the controversial provision. . "We wrote the language in the bill, the deal with bonuses, golden parachutes, excessive executive compensation that was adopted unanimously by the United States Senate in the stimulus bill," Dodd told CNN's Wolf Blitzer this afternoon. "But for that language, there would have been no language to deal with this at all." Dodd had previously said that he played no role in writing the controversial language, and was not a part of the conference committee that inserted the language in the bill. As late as today, Dodd's spokeswoman denied the senator's involvement. The AIG bonuses have caused a political firestorm, with Republicans and Democrats alike looking to lay blame for who's responsible, and leading lawmakers looking to revoke the bonuses. Dodd's role in the legislation will likely come up as he faces the likelihood of a tough re-election. Former GOP congressman Rob Simmons announced he was running this week, and has already taken issue with Dodd's stewardship as chairman of the Senate Banking Committee. UPDATE: Dodd put out the following statement this evening: "I'm the one who has led the fight™ against excessive executive compensation, often over the objections of many. I did not want to make any changes to my original Senate-passed amendment but I did so at the request of Administration officials, who gave us no indication that this was in any way related to AIG. Let me be clear -- I was completely unaware of these AIG bonuses until I learned of them last week. "Reports that I changed my position on this issue are simply untrue. I answered a question by CNN last night regarding whether or not a specific date was aimed at protecting AIG. When I saw that my comments had been misconstrued, I felt it was important to set the record straight -- that this had nothing to do with AIG. "Fortunately, we wrote this amendment in a way that allows the Treasury Department to go back and review these bonus contracts and seek to recover the money for taxpayers. Again, I have led the fight™ to curb excessive executive compensation, and will continue to do so." Gag |
| Posted by:ed |
| #5 “Let me be clear -- I was completely unaware of these AIG bonuses until I learned of them last week.” Translation: Even though I’m the Chairman of the Senate Banking Committee Treasury wonks, my staff,and lobbyists wrote the damn thing and I didn’t bother reading it. |
| Posted by: DepotGuy 2009-03-19 14:25 |
| #4 Any member of Congress who voted for that bill deserves the same level of opprobrium currently being aimed at Dodd. They didn't write it or read it, but they voted for it. |
| Posted by: Anguper Hupomosing9418 2009-03-19 12:39 |
| #3 Blue on Blue!!! Love it!! "I did not want to make any changes to my original Senate-passed amendment but I did so at the request of Administration officials," |
| Posted by: Yosemite Sam 2009-03-19 11:56 |
| #2 Lesson. When you are caught out telling a lie, tell another story fairly close but with enough subtle differences to make it distinguishable and then add in a lot of motherhood stuff. Then talk really quickly jumping all over the place and leave the questioner gasping. Wouldn't it be simple for a questioner to just say " Doddy baby, why did you lie?" |
| Posted by: Omoter Speaking for Boskone7794 2009-03-19 10:25 |
| #1 When I saw that my comments had been misconstrued... Ah. Ye Olde Misconstrued Comment. Been happening a lot lately to Angelo's friend... |
| Posted by: tu3031 2009-03-19 09:19 |