Word: dodds
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...economic adviser, Larry Summers, called the AIG saga the "most outrageous" of the current financial crisis. "It's an outrageous situation," agreed Senate minority leader Mitch McConnell. His House counterpart, John Boehner, said the Obama Administration's handling of the AIG mess was "outrageous." Senate Banking Committee chairman Chris Dodd claimed to have warned Treasury Secretary Tim Geithner that the bonuses would be met "with an unprecedented level of outrage...
Senate Banking Committee chairman Chris Dodd suggested one of the more severe solutions: that the government tax 100% of the bonuses, thereby recouping the losses. It may have been overcompensation, so to speak, on Dodd's part. The National Republican Senatorial Committee was quick to point out that Dodd had amended the stimulus plan to make a specific "exception for contractually obligated bonuses agreed on before Feb. 11, 2009." That exception gives cover to the AIG bonuses - though it should be noted, as Dodd's aides do, that the Senator did not know about the AIG bonuses at the time...
...original version of this story failed to make clear that Senator Chris Dodd knew nothing about the AIG bonuses when the stimulus bill was being drafted...
...share their outrage are rather powerless to act. If AIG failed, almost all experts agree, the damage to the entire financial system would be horrific. So the leadership has little to do but posture. "Unconscionable," said House Speaker Nancy Pelosi. "Outrageous," said her Republican counterpart, John Boehner. Senator Chris Dodd, chair of the banking committee that failed to regulate AIG, called on the executives to "voluntarily" forgo their bonuses. The best the government looks able to do is insist on some tough new pay restrictions going forward before giving AIG its next installment of $30 billion...
...Charles Grassley of Iowa; Ted Kennedy and the HELP Committee's top Republican, Mike Enzi of Wyoming; and Senators Jay Rockefeller of West Virginia and Orrin Hatch of Utah, the chairman and ranking member, respectively, of the Finance Committee's Subcommittee on Health Care. In recent months Senator Chris Dodd of Connecticut, a top HELP Committee Democrat, was added as Kennedy's understudy as the Massachusetts Democrat sought treatment for brain cancer. Senate Budget Committee Chairman Kent Conrad of North Dakota and his GOP counterpart Judd Gregg of New Hampshire were also added after President Obama included his $634 billion...