I think Chris Dodd’s (D-AIG) skin is thick enough to take it. It looks like his facade is starting to crumble.
Dodd flat-out has lied about his role in legislation that is allowing employees of American International Group to receive $400 million in bonuses despite receiving $173 billion in taxpayer money to keep the failed financial giant alive.
We praised Dodd on March 9 for authoring an amendment to the $787 billion stimulus bill that barred the top executives and highest-paid workers at companies that took government bailout money from receiving bonuses. Sharply down in opinion polls, Dodd was riding the wave of public anger at Wall Street’s greed.
What Dodd did not reveal at the time was that there was a provision in his [Ed. Which is named ‘The Dodd Amendment] amendment that exempted any bonuses, including AIG’s, in contracts dated prior to Feb. 11. The exemption was cited by Obama administration officials as the reason they were powerless to stop AIG’s payment of the bonuses.
[. . .]
As a member and now chairman of the Senate Banking Committee, which has jurisdiction over AIG’s industry, Dodd has received more campaign money, $281,038, from AIG than any other member of Congress.
Talk about toxic assets.
Nothing against AIG. What happened to AIG is only a symptom of the problem. People like Dodd in Congress is the real problem. He voted ‘yes’ on bail-out after bail-out and helped to hand craft the Job Stimulus Package. Dodd has been abusing the system for his own gains. He sold out his trust to the people of Connecticut a long time ago. He has acted with impunity and, until recently, the media has covered (at the very least, showed an amazing lack of curiosity) for his actions. People are starting to realize that Dodd is a bill of goods and are getting very pissed off.
It’s time for Dodd to retire and move to his ‘cottage‘ in Ireland. With any luck, he will stay there.