Charlie Rangel Thinks No One Cares About the AIG Bonus Language


So I have taken some time this morning to read about the history of the "bonuses" for bailed out companies. In all fairness, Senator Chris Dodd (D-CT) is getting an unfair shake.The public record shows Dodd authored an amendment that would have prevented "any bonus" being paid to top executives of firms getting bailout money. It was the White House and the Treasury Department that insisted Dodd's amendment be watered down to apply only to bonuses paid under agreements signed in the past five weeks. Treasury Secretary Timothy Geithner has taken public responsibility for that.The Dodd Amendment was removed in the conference committee between the House and Senate on H.R. 1. The article I link above has a NUMBER of references which quote the Obama Administration as pressuring Dodd for the removal of his amendment. And the language which allowed the bonuses was added secretly by those in the conference committee. The members of the conference committee?Democratic Senate members Daniel Inouye of Hawaii, Max Baucus of Montana and Harry Reid of Nevada and Democratic House members David Obey of Wisconsin, Charles Rangel of New York and Henry Waxman of California. No Republican lawmakers were among the conferees.And now the blame game ensues. The Democrat finger-pointing has become unreal. Speaker Nancy Pelosi claims it is a Senate-White House issue and that members of Congress had NOTHING to do with it. Asked to explain what her understanding was of how the looser language came to pass through Congress, Pelosi pointed back at the Senate and the Obama White House.“This is Senate-White House language,” Pelosi said, referring to the now-radioactive provision. “That is what we are talking about here.“If you want to talk about what happened in the Senate, go to the Senate and talk to them,” she added.And Pelosi continuously denied that

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