The Corner

Trough Times for Chris Dodd

The Connecticut Republican Party has just fired this blast at the state’s senior U.S. Senator and preferred mortgage recipient:

Dodd’s $175,000 AIG Bonus

HARTFORD−U.S. Sen. Chris Dodd should return the $175,000 his campaigns received from AIG International employees or donate it to charity, according to Republican State Party Chairman Chris Healy Monday.

 

According to opensecrets.org, AIG executives and employees were very generous to Sen. Dodd’s U.S. Senate campaigns and Presidential bid in 2008.

 

“Sen. Dodd was asleep at the switch as our financial markets crashed and burned,” said Healy. “It’s easy to see why Sen. Dodd didn’t or wouldn’t notice because AIG bought his attention.”

Sen. Dodd is chairman of the Senate Banking and Urban Affairs Committee.

 

Published reports over the weekend indicated that AIG was rewarding many of its executives with $450 million in bonuses after receiving $173.3 billion in taxpayer subsidized aid. The federal government now owns 80 percent of AIG assets, according to the Wall Street Journal.

 

“AIG executives have stolen millions from taxpayers through their arrogance and incompetence,” said Healy. “Where is the outrage from Sen. Dodd? Isn’t he supposed to be in charge of protecting the taxpayers from these modern day financial pirates?”

 

Healy said Sen. Dodd’s attempts to rehabilitate himself won’t work as the public begins to see the close relationship the senator has with many of the financial institutions which made bad deals and risky investments and then sought aid from the federal treasury.

 

“Connecticut voters see which side Sen. Dodd has been on−−and it is the side that pays,” said Healy. “Sen. Dodd should send this tainted money to people who need it−−either the taxpayers or those in need because he wasn’t paying attention to the financial crisis when it was happening.”

 

While Dodd has been silent on the AIG abuses, the ranking member of the Banking and Urban Affairs Committee, U.S. Sen. Richard Shelby, R-AL, was furious.

Shelby said Congress must do everything it can to make sure the government money going to AIG is handled appropriately. “We ought to explore everything that we can through the government to make sure that this money is not wasted,” Shelby said. “These people brought this on themselves. Now you’re rewarding failure. A lot of these people should be fired, not awarded bonuses. This is horrible. It’s outrageous.”

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