...and while we are on the subject, I'm still waiting to see Christopher Dodd's explanation for the 'sweetheart mortgage' rates he personally recieved from the now bankrupt Countrywide mortgage company.
Tuesday, March 17, 2009 -- Senator Chris Dodd on Monday night floated the idea of taxing AIG bonus recipients so the government could recoup some or all of the $450 million the company is paying to employees in its financial products unit. Within hours, the idea spread to both houses of Congress, with lawmakers proposing an AIG bonus tax.
The move represents an about-face for the Senator. While the Senate was constructing the $787 billion stimulus last month, Dodd added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed to before Feb. 11, 2009” -- which exempts the very AIG bonuses Dodd and others are now seeking to tax. The amendment made it into the final version of the bill, and is law.
Sen. Dodd was AIG’s largest single recipient of campaign donations during the 2008 election cycle with $103,100, according to opensecrets.org.
Dodd’s office did not immediately return a request for comment.