Dodd: Administration pushed for language protecting bonuses

Discussion in 'Politics' started by toomuchtime_, Mar 18, 2009.

  1. toomuchtime_
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    toomuchtime_ Gold Member

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    Senate Banking committee Chairman Christopher Dodd told CNN Wednesday that he was responsible for language added to the federal stimulus bill to make sure that already-existing contracts for bonuses at companies receiving federal bailout money were honored.

    Dodd acknowledged his role in the change after a Treasury Department official told CNN the administration pushed for the language.

    Both Dodd and the official, who asked not to be named, said it was because administration officials were afraid the government would face numerous lawsuits without the new language.

    Dodd, a Democrat, told CNN's Dana Bash and Wolf Blitzer that Obama administration officials pushed for the language to an amendment designed to limit bonuses and "golden parachutes" at those companies.

    "The administration had expressed reservations," Dodd said. "They asked for modifications. The alternative was losing the amendment entirely."

    On Tuesday, Dodd denied to CNN that he had anything to do with adding the language, which has been used by officials at bailed-out insurance giant AIG to justify paying millions of dollars in bonuses to executives after receiving federal money.

    He said Wednesday that the "grandfather clause" language "seemed like innocent modifications" at the time. Watch Dodd's interview with CNN's Dana Bash »

    Dodd: Administration pushed for language protecting bonuses - CNN.com
     
  2. Xenophon
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    Xenophon Gone and forgotten

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    Gee, another fuck up by BO and his assclown patrol, what a shock.

    I hope this won't effect his leno apperenace.
     
  3. Zoom-boing
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    Zoom-boing Gold Member

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    "I'm the one who has led the fight against excessive executive compensation, often over the objections of many," said Dodd, the chairman of the Senate Banking Committee. "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."

    Dodd: Administration sought bonus limit revision

    Something stinks.
     
  4. DavidS
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    DavidS Anti-Tea Party Member

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    Ech. This is a mess. Dodd should resign.
     
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  5. GHook93
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    GHook93 Aristotle

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    True, but Barney "Da Fag" Frank should also resign for his role in the mortgage meltdown and his protection of Fannie Mae Freddie Mac!
     
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  6. Sinatra
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    Sinatra Senior Member

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    The Dems are cannabilizing one another over this right now.

    Dodd is in a tough re-election fight and this will not help one bit.

    Of course, Obama is on Leno, where he is sure to face some very tough questions over this mess...
     
  7. Sinatra
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    Sinatra Senior Member

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    The chain of errors is astounding.

    Dodd's insistence on indicating complicity by the White House is a shot over the bow of the Obama administration - he is saying in no uncertain terms, "Fix this NOW you morons - I am NOT taking the fall for this mess."

    And so the White House spin cycle will begin...
     
  8. DiveCon
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    DiveCon gone

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    well now
    i thought earlier Obama had said he didnt know
    WTF?
     
  9. DiveCon
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    DiveCon gone

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    uh, is he the ONLY ONE?
    if he did this at the request of Obama, what do you say then?

    or is it time to throw Dodd under the bus?
     
  10. RetiredGySgt
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    RetiredGySgt Diamond Member

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    Ohh LOOK, BOBO and Truthmatters and all the other koolaid drinking worshippers of the current President get to pick. Either Dodd did it OR Obama did it. Can we guess who is gonna get thrown under the bus?
     
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