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March 18, 2009

Dodd falls on his sword, sort of (UPDATE: Just kidding -- it's Obama's fault)

CNN's Political Ticker reports that Sen. Chris Dodd has finally admitted what was already well-known:
Senate Banking committee Chairman Christopher Dodd told CNN’s Dana Bash and Wolf Blitzer Wednesday that he was responsible for adding the bonus loophole into the stimulus package that permitted AIG and other companies that received bailout funds to pay bonuses.

On Tuesday, Dodd denied to CNN that he had anything to do with the adding of that provision.
Go to the link to see the video.

Sen. Charles Grassley could not be reached for comment.

UPDATE: This just keeps getting better and better. Dodd says he did it, but he's not taking responsibility. CNN this evening:
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.

Dodd, a Democrat, told CNN's Dana Bash and Wolf Blitzer that Obama administration officials pushed for the language to an amendment designed to limit bonuses and "golden parachutes" at those companies.

"The administration had expressed reservations," Dodd said. "They asked for modifications. The alternative was losing the amendment entirely."

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."
He agreed reluctantly, he says. Then again, just yesterday he lied about whether or not he was involved in the first place, so take that assurance with a grain of salt.

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