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Dodd defends himself on bonuses

Posted by Foon Rhee, deputy national political editor March 20, 2009 11:50 AM

Under fire for his role in allowing the AIG bonuses, Senator Chris Dodd mounted a strong self-defense today, telling constituents that he had no idea that a change in language in an executive pay provision would permit them.

"No one is angrier than I am," he said in Enfield, Conn.

Dodd said during the drafting of the final version of the $787 billion stimulus bill, he led the charge on including "strong language" to limit executive compensation. "I felt it was needed," he said, because too many time people try to take advantage of such situations.

He reiterated that he was asked by Treasury Department officials to change the language to protect some already-contracted bonuses to avoid legal issues.

"It seemed rather technical and innocuous at the time," said Dodd, chairman of the Senate Banking Committee.

He said if he had known it would allow the $165 million in AIG bonuses, "I would have rejected it out of hand."

Dodd, who faces reelection next year, said he was "disturbed" that those who sought the change didn't stand up and take the blame as soon as the controversy emerged earlier this week.

Treasury Secretary Timothy Geithner, who is on the hot seat himself over the bonuses, said Thursday that his staff did talk to Dodd about their concerns and accepted at least part of the responsibility.

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Chris Dodd and Timothy Geithner have our financial future in their hands, not a comforting feeling. Next they will pay Fanny and Freddy with help of Barney Frank. We need to pay for success only. A good try is not success.

Posted by Bob March 20, 09 01:01 PM
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I believe Chriss Dod. He is an upstanding Democrat, but then again I am the Prince of Monaco, believe me !

Posted by aaaaaaa. Andrews March 20, 09 02:17 PM
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Do you know when that liberal skunk is lying? When his lips are moving. Dodd and Frank are an embarrassment complicent stooges in the sub prime debacle that has led to this financial meltdown. Hanging is too good for both of these pigs.

Posted by mike torres March 20, 09 03:36 PM
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Dodd is obviousley just covering his ass. almost all politicians are just looking out for their own interests, I think this is a great example of that he claims he didnt fully understand what the changes would mean, if thats true then you should get advice but obviousley hes either to stupid to think of that or doesnt care enough to, or he is lying and did know what it would do but didnt want to change the bill because then he wouldnt recieve a bonous. hmmmm ............... I wonder which it was

Posted by the only sane person alive March 20, 09 04:18 PM
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He lied! He's still lying and he'll lie again! Maybe he'll end up with yet another Presidential pardon! Perhaps a Guinness record in the making!

Posted by Buckospal March 23, 09 06:28 AM
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