Changes

===Authorizes AIG's plunder of TARP for executive bonuses===

===Authorizes AIG's plunder of TARP for executive bonuses===

Dodd was in charge of financial-services rules for Obama's $787 billion [[deficit]] enriching [[stimulus]] and the [[TARP]] program that bailed out the failed banks and financial institutions he oversaw. Dodd made a public comment feigning criticism for bonuses given to executives of [[AIG]], the insurance giant, saying, "This is another outrageous example of executives -- including those whose decisions were responsible for the problems that caused AIG's collapse -- enriching themselves at the expense of taxpayers." One rule he included was an exemption for contractual obligations prior to Feb 11, 2009, which allowed the AIG bonuses. The exact rule below;

Dodd was in charge of financial-services rules for Obama's $787 billion [[deficit]] enriching [[stimulus]] and the [[TARP]] program that bailed out the failed banks and financial institutions he oversaw. Dodd made a public comment feigning criticism for bonuses given to executives of [[AIG]], the insurance giant, saying, "This is another outrageous example of executives -- including those whose decisions were responsible for the problems that caused AIG's collapse -- enriching themselves at the expense of taxpayers." One rule he included was an exemption for contractual obligations prior to Feb 11, 2009, which allowed the AIG bonuses. The exact rule below;

{{cquote| Crack down on bonuses, retention awards and incentive compensation: Bonuses can only be paid in the form of long-term restricted stock, equal to no greater than 1/3 of total annual compensation, and will vest only when taxpayer funds are repaid. There is an exception for contractually obligated bonuses agreed on before Feb. 11, 2009. }} Dodd will not take responsibility for the confusion saying his original amendment did not include that exemption.<ref>[http://www.foxbusiness.com/story/markets/industries/finance/dodd-cracks-aig---time/ Amid AIG Furor, Dodd Tries to Undo Bonus Protections] Fox News, March 17, 2009</ref>

{{cquote| Crack down on bonuses, retention awards and incentive compensation: Bonuses can only be paid in the form of long-term restricted stock, equal to no greater than 1/3 of total annual compensation, and will vest only when taxpayer funds are repaid. There is an exception for contractually obligated bonuses agreed on before Feb. 11, 2009. }} Dodd will not take responsibility for the confusion saying his original amendment did not include that exemption.<ref>[https://www.foxbusiness.com/story/markets/industries/finance/dodd-cracks-aig---time/ Amid AIG Furor, Dodd Tries to Undo Bonus Protections] Fox News, March 17, 2009</ref>

Dodd was AIG's largest single recipient of campaign donations during the 2008 election cycle with $103,100.

Dodd was AIG's largest single recipient of campaign donations during the 2008 election cycle with $103,100.