Posted on 03/17/2009 6:32:23 PM PDT by Lorianne
Sen. Chris Dodd, facing the lowest approval ratings of any Senate Democratic incumbent,is in political purgatory. But on the subject of AIG's bonuses, he doesn't deserve the bad rap. Dodd is being blamed for OKing a proviso in the American Recovery and Reinvestment Act guaranteeing previously sanctioned employment contracts.
He faces intense political pressure because of his long-standing friendship with bankers and lenders, which has made him a key player in the negotiations between financial institutions and the government. In a statement yesterday, Dodd called on AIG executives to voluntarily refuse their bonuses.
The truth is that the codicil was added in conference by mutual agreement of House and Senate Democrats and the White House. At the time, the administration worried about both the perception and the reality of government's interfering in the decisions and internal operations of the banks. Backstopping employment contracts was controversial to critics, but to an administration that was trying to work with the banks, it was an easy call. The worry was that the banks would suffer immediate and disasterous brain drain if the govenment could abrogate (the world of the week!) employment contracts willy-nilly.
Apparently, no one at the Treasury Department or the New York Federal Reserve Board bothered to check on what those contracts actually contained - therein was the sin of omission, if you can call it that. How many tens of thousands of employees does AIG have? And didn't Geithner recuse himself from dealing with AIG?
(Excerpt) Read more at politics.theatlantic.com ...
Dodd is a central figure in the destruction of our free markets. He and his fellow Senators left and right are more to blame for the current mess than all Presidents combined.
American International Group: All Recipients
Among Federal Candidates, 1989-2008
Total: $4,362,625
Name Total Contributions
Dodd, Chris (D-Conn) $280,238
Bush, George W (R-Texas) $200,560
Schumer, Charles E (D-NY) $111,875
Obama, Barack (D-Ill) $107,332
McCain, John (R-Ariz) $99,249
Baucus, Max (D-Mont) $90,000
Kerry, John (D-Mass) $85,000
Johnson, Nancy L (R-Conn) $75,400
Sununu, John E (R-NH) $69,049
Clinton, Hillary (D-NY) $59,515
Lieberman, Joe (I-Conn) $57,900
Rangel, Charles B (D-NY) $53,582
Giuliani, Rudolph W (R-NY) $50,250
Was reading a Kos article that claims someone must have snuck that language into Dodds bill when he wasn’t looking, sort of the reverse “dog ate my homework” excuse.
No matter whether Dodd is a dumbass for putting the exception in the bill, allowing it to be put in, or whether he actually didn’t know it was there, bottom line: Chris Dodd = Dumbass.
I hope this can be pinned on Dodd (and Pelosi and Frank somehow).
Not that other’s aren’t complicit, including Republicans ... but these 3 really really need to go down.
They won’t refuse their bonuses to save Dodd’s political ass, I’ll tell you that!
Seems to me if any of the senators would have actually read the bill they would have seen it in the bill. Take responsibility you a*******
I heard Dodd say that he wrote the amendment but it did not contain the 11 Feb date. He says that date was added in conference. OK. So what? What difference would there have been if the date were omitted? Dodd is trying desperately to cover his ass by talking about a difference without a distinction.
HAHAHAHAHA.....my husband called Dodd’s office today.....he read them the part about Dodd inserting the “bonuses not affected if instituted before 2/09” part....and the office “boy” couldn’t dispute it.....
I’m not trying to defend Obama at all because I believe his pick in Geitner was designed to fleece the country, but I can’t stand all these 30 plus years senators blaming every President that comes and goes and take no responsibility for anything.
Dodd is a liar.
I agree. Obama was only in the Senate, what, two terms? These guys are career criminals.
B/S. Dodd owns this, as does each and every one of those clowns that didn’t even bother to read the very thing that THEY voted on, and put us further in debt.
Frankly, their failure to read it, and not allow others to read it, is taxation without representation. IMHO
Hang Dodd first, then hang them all.
Sure hope MM Defarge is keeping a list of names.
No doubt she is knitting away.
Yeah, I think that would be the famous "the dog barfed on the carpet and I scooped it up and turned it in as my homework" excuse.
Wrong-o ... try 4 years, and 2.5 of that he hardly set foot in the Senate because he was running for Prez ...
These guys are career criminals.
Right-o ... you are 100% correct and have redeemed yourself, totally obliterating any stigma of your other incorrect answer.
You said it! Well said! Post that all over the place, that point has to be made!
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