Business as usual...hmmm
Two Faced: Dodd Protected Bonuses, Now He Wants Them Out
Tuesday, March 17, 2009 2:30 PM | newsmax
By: Jim MeyersDemocratic Sen. Christopher Dodd on Monday criticized the bonuses given to executives of American International Group Inc. and suggested that the government could tax the recipients to recoup some or all of the payouts.
But it was Dodd who inserted language — known as the Dodd amendment — in the $787 billion stimulus bill that allowed all bonuses awarded before February 11, 2009, to be paid to AIG executives. That very amendment, which is now law, is now the chief hurdle to government officials who want to recover that money.
The amendment was meant to restrict executive pay for bailed-out banks, but it also included the exception for "contractually obligated bonuses agreed on or before Feb. 11, 2009." more...
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