AIG Bonus Loophole

When asked how the February 11th date got into the bill Dobbs denied knowing who or how it got into the bill Quote: “I can’t point a finger at someone who is responsible for authorizing the language that put that- those dates in. I can tell you this much when my language left the senate it did not include it... when it came back it did.”

Chris Dodd flip-flops from earlier statements where he said he did not write in the February 11 2009 date into the stimulus bill, and changes his story to that he was in contact with White House administration. Quote: “They came to us- our staff and asked for changes, and the changes at the time did not seem that obnoxious or onerous ... none of us- I certainly didn’t have any idea about AIG and these retention bonuses so we agreed to some modification at the time”

Geithner stated that the reason the treasury department wanted the loophole in the bailout bill was to keep from being sued by companies that wanted to give performance bonuses. Begging the question why would any company failing and needing to be bailed out by the government should be rewarding high level employees that tanked the company in the first place.