CNN's Wolf Blitzer Hangs Senator Dodd by His AIG Bonus Amendment

What's worse than having to admit your role in the AIG's $165 million bonus scandal? Having to admit it live on television, during The Situation Room with Wolf Blitzer.

The mystery man behind stimulus package bonus loophole had been found, hiding in the halls of the Senate and pointing fingers at the Obama administration.

This happened to be Senate Banking committee Chairman Christopher Dodd, also known as Senator Dodd, who appeared live on CNN to clear up his statements from yesterday. Senator Dodd admitted to being the person who inserted now controversial language into the stimulus package, which enabled AIG to give away outrageous bonuses to people who deserved it the least.

Watch the Video of Senator Dodd admitting his involvement with AIG bonuses live on CNN

We do have to remember that AIG, and its bonus recipients, have been said to be the ones responsible for beating our economy like a three legged dog.

On Tuesday, Dodd spoke with a CNN producer and denied having anything to do with the amendment added to the stimulus package. In his words, Dodd denied adding the provision that caused the bonus loophole.

The story was different today, when Dodd claimed that he researched the matter and found out that in fact he is the person who wrote the language. Of course, he had to share the blame with someone, and he blamed it on the US Treasury Department. Dodd's claims were that the Treasury insisted on having this wording to protect taxpayers from parachute bonuses, even though no one suspected AIG to take advantage of it.

Dodd's defense was that the Treasury insisted in having this provision because of existing contracts that required bonuses be paid out. News reports have confirmed that breaking those contracts in question would have cost more than paying the agreed sums.

Putting out the wildfire known as "AIG Bonus Scandal" will take some time, and the Obama Administration will have to look into any inappropriate actions taken by those involved in writing the loophole.

The stimulus package loophole that allowed over $165 million to be given away to AIG to pay out bonuses has stirred anger from the media, especially anger from taxpayers.

CNN has followed AIG bonus story since it first broke, even calling for those responsible to step up.

Senator Dodd's admission on air is controversial, because of his Chairman role on the Banking committee. After all, he was the individual responsible for covering all legal language before passing the stimulus bill.

The US taxpayers are angry with AIG receiving stimulus money to bailout their bad business practices. As many have put it, our government is bailing out bad business and rewarding those responsible for jeopardizing financial lives of thousands of American families.

Us, the US taxpayers, are furious that a company like AIG rewards those who have a hand in bringing the US economy to a screeching halt. Those same recipients of seven-figure bonuses by AIG were individuals who brought AIG company to the brink of collapse.

Senator Dodd looked unhappy with CNN, his live appearance seemed to be an uncomfortable admission of involvement.

Senator Chris Dodd placed himself in a hot seat, and potential reason for a resignation call after his involvement with the bailout bill language that gave away millions.

We hope that Chairman Dodd is working on a resignation letter. He can apply for a new job at AIG Financial Products.

Sources:
The Situation Room with Wolf Blitzer

http://www.cnn.com/video/#/video/politics/2009/03/18/tsr.dodd.aig.bonus.intv.cnn

http://politicalticker.blogs.cnn.com/2009/03/18/breaking-i-was-responsible-for-bonus-loophole-says-dodd/