This is great, so at a time when we’re looking for people to blame for these huge AIG bonuses, Chris Dodd makes things easy.  Yesterday on CNN he said he did not insert loopholes or do anything that would benefit AIG.  Now, today on CNN he admits to “modifying” the legislation that allows for AIG big wigs to get multi-million dollar bonuses.  Dodd put a big target on him, not like there already wasn’t.  Dodd has been criticized before for his possible involvement with AIG which at the time he also denied.  He is also the highest beneficiary of contributions by AIG staffers and family members.  Anyways, here’s the clip of what he said on CNN today,

Now, he’s putting most of the blame on the treasury department when he should be taking responsibility for his own modifications to the legislation.  What also bothers me, yet, is not uncommon from politicians, is when Wolfe asked him, “What changed from yesterday?”.  Dodd gave an answer, that he reviewed it and so now that’s why his answered changed.  If he wasn’t sure the first time then he should have said that.  Why lie to Americans, the people that hired him?  Also, the Feburary 11 date in the legistlation refers to the language that Dodd inserted into the provision that would allow bonuses agreed to before that date to go unregulated.  This allowed for companies like AIG to agree on bonuses before the stimulus passed and then once it passed, the money was to be used on bonuses.  Dodd is currently trying to back track on his previous statments.  Here’s the statement put out by Chris Dodd tonight after his CNN appearance today,

“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.”

I like how the statement starts off “I’m the one who has led the fight against excessive executive compensation”.  To be honest, I haven’t seen any evidence of Dodd doing this, but it would be hard to believe him after he lied to the American people about his involvement.  If he isn’t willing to name drop who in the treasury apparently told him to modify the legislation, then I don’t see the point of him placing blame on anyone but himself.  Sure, there’s others to also blame for this mess, but this was the language he inserted into the stimulus and he should be responsible for the loophole.  I really hope Chris Dodd does not get re-elected, but I wouldn’t be surprised if he is able to.  The point is that Dodd was caught in a lie, stimulus money went to AIG bonuses, and now the House is going to vote tomorrow to try to get back some of the money.  This is mess that could have been prevented, though I’d like to say “Lets hope we learned our lesson”, I think I said this plenty of times during the Bush administration and the politicians on in Washington just can’t seem to learn from each others wrong doings.

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