2009.03.18: March 18, 2009: Headlines: Figures: COS - Dominican Republic: Politics: Congress: Banking: Hartford Courant: Sen. Chris Dodd's Full Statement on AIG Bonuses
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2009.03.18: March 18, 2009: Headlines: Figures: COS - Dominican Republic: Politics: Congress: Banking: Hartford Courant: Sen. Chris Dodd's Full Statement on AIG Bonuses
Sen. Chris Dodd's Full Statement on AIG Bonuses
"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. "
Sen. Chris Dodd's Full Statement on AIG Bonuses
Sen. Chris Dodd's Full Statement on AIG Bonuses
By Christopher Keating
on March 18, 2009 9:04 PM | Permalink
Sen. Christopher Dodd has been in the middle of a political firestorm regarding $165 million in bonuses paid to AIG, the giant insurance company that has received billions in federal bailout money. As chairman of the powerful Senate Committee on Banking, Housing and Urban Affairs, Dodd was heavily involved in the legislation that has since become controversial after the AIG bonuses were publicly revealed.
On Wednesday night, Dodd released the following statement on his executive compensation amendment:
"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."
State Republican chairman Christopher Healy responded, "This is a total whitewash, and it shows Senator Dodd lacks the courage of his convictions and that he didn't think through the impact of this disastrous rip-off of the taxpayers. Sen. Dodd is hiding behind a press release. It's time for Sen. Dodd to face the music and face the facts."
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Story Source: Hartford Courant
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