Dodd admits inserting loophole in stimulus for bonuses

[Warph]

Sen. Chris (Dodo) Dodd (D-Conn.) looks like he may be facing a fresh political firestorm.

Dodd just admitted on CNN that he inserted a loophole in the stimulus legislation that allowed million-dollar bonuses to insurance giant AIG to go forward – after previously denying any involvement in writing the controversial provision. .

"We wrote the language in the bill, the deal with bonuses, golden parachutes, excessive executive compensation that was adopted unanimously by the United States Senate in the stimulus bill," Dodd told CNN's Wolf Blitzer this afternoon.

"But for that language, there would have been no language to deal with this at all."

Dodd had previously said that he played no role in writing the controversial language, and was not a part of the conference committee that inserted the language in the bill. As late as today, Dodd's spokeswoman denied the senator's involvement.

The AIG bonuses have caused a political firestorm, with Republicans and Democrats alike looking to lay blame for who's responsible, and leading lawmakers looking to revoke the bonuses.

Dodd's role in the legislation will likely come up as he faces the likelihood of a tough re-election.  Former GOP congressman Rob Simmons announced he was running this week, and has already taken issue with Dodd's stewardship as chairman of the Senate Banking Committee. (Gee, what a shame).

[Varmit]

I think that not only Dodd, but Pelosi, Biden, and most of all Obama, should be held responsible for this.  They wrote the bill, they pushed it, they lied, they should all be fired impeached, and tried for misapporations of funds, as well as fraud.  But then again, what do you expect from a "community organizer" from chicago.