Sen. Chris Dodd (D-CT) is in serious trouble, as Politico reports: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.
Dodd is up for reelection next year, and will face a serious challenge from former Republican congressman Rob Simmons.
Here's something else for Dodd to worry about: During the last six months of his anemic presidential campaign, Dodd moved to Iowa. Seriously. He and his family rented a house in Des Moines in 2007; he enrolled his daughter into kindergarten there. All while representing Connecticut in the US Senate.
All while the banking crisis festered.
Dodd--while running for president and living in Iowa--was chairman of the Senate Banking Committee.
Related post:
Dodd the Dud may be vulnerable in 2010
Hey Congress: Investigate Sen. Chris Dodd now
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