Skip to comments.Dodd: Administration pushed for language protecting bonuses (Dodd Throws Obama under The Bus)
Posted on 03/18/2009 5:56:04 PM PDT by icwhatudo
Dodd acknowledged his role in the change after a Treasury Department official told CNN the administration pushed for the language.
Both Dodd and the official, who asked not to be named, said it was because administration officials were afraid the government would face numerous lawsuits without the new language.
"I agreed reluctantly," Dodd said. "I was changing the amendment because others were insistent."
(Excerpt) Read more at cnn.com ...
I believe Dodd is in a world of hurt. I think heads will fall in the next few days.
BTW-A writer at Huffington had this more important angle of the story hours ago. Sadly when I went to publish I learned FR does not allow it here.
I wonder how Obama feels to be the one under the bus now?
I hope he doesn't put a burning tire around my neck when he finds out
So much for the promises of transparency and accountability.
Zero will skate. He always does. We have a real pathological liar in the White House. God help us.
Is everything that comes out of Obama’s mouth a lie?
You might ask Barry that question, but then he would either not get it or would just lie to you.
But if he didn’t get it, David Axelrod would subsequently ‘splain’ it to him and he would call you back to explain it to you in minute ‘teleprompter cowboy’ style over the phone.
“administration officials were afraid the government would face numerous lawsuits without the new language.”
Law suits. That’s it! They’re scared of law suits by guys from AIG who will go to juries and tell them how innocent they are, please give us millions.
“I think heads will fall in the next few days”
You mean you don’t think dodd would win in a “cage match” with 0? I’d kind of like to see “real ugly” between the two of them.
And these people want to manage my health care?!
This is going to end very badly for us poor tax payers, isn’t it?
Everything but the carbon dioxide, and you know he will skate on his share of cap and trade.
I don’t think he’ll come out unscathed. Geither will be the scapegoat and take the fall, of course, but I think that Obama will take a significant hit in terms of public opinion...assuming the media covers it. Given the circumstances, it should be a major blow to his credibility among anyone with any shred of political objectivity.
Can I just eat my waffles
This pack of liars would be great entertainment if it wasn’t so freakin expensive. That bus must be jacked up on extra large tires to hold everybody that has been thrown under it.
Well, let’s see...higher tax rates, universal health care, more unionization and the Fed is creating trillions of dollars out of thin air. What could go wrong?
The List, ping
QUID PRO QUO! Put Dodd in jail. Gets the most campaign contributions from AIG of any politician, than changes the bill at the last minute to pay millions to his benefactors.
“writer at Huffington had this more important angle of the story hours ago. Sadly when I went to publish I learned FR does not allow it here.”
Post it on this thread or maybe as a vanity. without attribution.
Rush is going to have a great time with all the sound bites. However I think by tomorrow morning everyone will have their new talking points and marching orders.
Dodd did it because he’s a wimp and does what he is told. That’s what he said.
You'd better be right. That is to say, I hope you're right. But I doubt it.
“On Tuesday, Dodd denied to CNN that he had anything to do with adding the language, which has been used by officials at bailed-out insurance giant AIG to justify paying millions of dollars in bonuses to executives after receiving federal money.
He said Wednesday that the “grandfather clause” language “seemed like innocent modifications” at the time.
“I agreed reluctantly,” Dodd said. “I was changing the amendment because others were insistent.”
Dodd said he did not speak to high-ranking administration officials and the change came after his staff spoke with staffers from Treasury.
The White House did not immediately respond to CNN’s request for comment.”
So now Dodd does a 180 from yesterday: Obama made me do it.
I was looking over the CT newspapers and reader comments and they are mad as hell. Looks like a heretofore loyal capo is refusing to fall on his sword.
It should have occurred to me earlier that widespread rebellion was hardly necessary to derail the Obama machine. Just the fracturing of his congressional majority. Too many dem congresscritters are beginning to develop second thoughts about being joined to the Messiah.
Look for more apostles to start denying him.
Part of the problem is that this cock-up is too big, too fast-moving and too confusing for the MSM to sit on or control the story.
Whoa! Telebama isn't going to like this!
“Is everything that comes out of Obamas mouth a lie?”
Only anything related to politics/policy. On everything else his 100% honest.
O says it doesn’t matter how it happened and the media will accept that explanation.
I’m finding it funny how Clinton and Obama, easily two of “the smartest people in the world,” can say they didn’t know something and everyone believes it.
Meanwhile Bush, “the dumbest guy ever,” was supposed to know every bit of minutiae (sp?) of everything that happened.
POST #3, I for one can hardley weight
“because others were insistent.
Still some wriggle room. O-bozo not named directly.
Check out the new AP headline:
Dodd: Administration sought bonus limit revision Posted here
let’s hope the GOP get the most mileage out of this....
"The Treasury Department demanded that Sen. Chris Dodd insert exemptions into the stimulus bill that allowed bailout recipients to receive bonuses, the Connecticut Democrat said on Wednesday.
According to Dodd, officials at Treasury expressed concern that if the government were to prohibit payouts, it risked being sued by companies like AIG, which had contracts stipulating that bonuses were to be paid.
At the urging of Treasury officials, Dodd modified a clause he had previously inserted into the stimulus that prohibited bonuses from being issued by bailed-out companies. An exemption was added to allow bonuses that applied to in-place contracts.
"The alternative was, in my view, losing the entire section on executive excessive compensation," he said. "Given the choice ... I agreed to a modification in the legislation, reluctantly. I wasn't negotiating with myself. I wasn't changing my own amendment. I was changing the amendment because others were insisting on it."
"I would have preferred that we kept my language, as it left the Senate unanimously," Dodd added. "In fact there were objections when I wrote the language even before it left the Senate. ... The administration expressed reservations with the amendment. They came to us and asked for modifications in the amendment. The alternative was, of course, losing the amendment entirely, which was a possibility. I didn't want to see that happen. I suspect we would be having a conversation tonight why we didn't include some language in here to deal with bonuses, golden parachutes and the like. ... I don't believe anyone had any idea, I certainly didn't, that a month and a half later from February we would be talking about AIG and the bonuses they are receiving for their retentions, these $165 million. So that was never a part of the consideration."
The disclosure should put to rest one aspect of the debate over how a company like AIG, which has received $170 billion in taxpayer funds, was allowed to dole out $165 million in bonus payments. Still unresolved is who in conference removed the amendment introduced by Sens. Wyden and Snowe that would have taxed bonuses exceeding $100,000 at 35 percent.
“I agreed reluctantly . . .”
OH BWWWAHAHAHAHAHA HHHHAAHAHAHAHA
This is like watching an episode of “The Keystone Cops”.
“Ihn ze olt dahyz..........”
"The bus is waiting right outside, Chris..."
--- or ---
You sumbitch better not hang me out to dry, you rat fink!
Dodd said “Hold muh beer”...