AIG

[classicman]

We found one guy to blame - Chris Dodd

"We wrote the language in the bill to deal with bonuses, golden parachutes, excessive compensation -- executive compensation, that was adopted unanimously by the United States Senate in the stimulus bill," Dodd, a Connecticut Democrat, told CNN."

In a complete reversal from his stance Tuesday, Sen. Chris Dodd admitted he inserted language into the federal stimulus bill allowing $165 million in bonuses to those AIG executives. But the president made him!

Dodd, chairman of the senate banking committee, finally admitted to CNN (see clip) that his stimulus amendment allowed the universally-reviled bonuses, which went to the very AIG executives responsible for tanking the company.

In talking to CNN, Dodd used excruciatingly boring legislative/parliamentary language, probably to try and put the audience to sleep. But his argument boils down to this: The Obama administration asked him to put the bonus language in, and Dodd was afraid all other executive compensation limits would be stripped from the stimulus package if he didn't comply.

It looks like there's some actual truth behind this buck passing; following Dodd's admission, the president said at a town hall meeting in California, "I'll take responsibilty. I'm the president."

[TGRR]

Originally Posted by classicman

We found one guy to blame - Chris Dodd

Ummm...

It looks like there's some actual truth behind this buck passing; following Dodd's admission, the president said at a town hall meeting in California, "I'll take responsibilty. I'm the president."

By that standard, Harry Truman was personally behind every mistake and misdeed the entire government (congress included) made during both of his terms, because "the buck stops here".