Susiepolls2008
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crisis- to write finance reform? From the fall of 2008 through early 2009, the United States government spent nearly $170 Billion to bailout the failing insurance giant, AIG. AIG then spent $165 million of this money to hand out executive “retention” bonuses to its top executives. Public outrage ensued over this apparent misuse of taxpayer dollars.
Senator Chris Dodd was responsible for the inclusion of a clause limiting excessive executive pay in the American Recovery and Reinvestment Act. On February 14, 2009, the Wall Street Journal published an article, Bankers Face Strict New Pay Cap, discussing a retroactive limit to bonus compensation inserted by Chris Dodd into the stimulus bill that passed in the Senate.[63]
http://www.fireandreamitchell.com/chris-dodd-countrywide-scandal-mortgage-fraud-and-aig-bonus-scandal/
Senator Chris Dodd was responsible for the inclusion of a clause limiting excessive executive pay in the American Recovery and Reinvestment Act. On February 14, 2009, the Wall Street Journal published an article, Bankers Face Strict New Pay Cap, discussing a retroactive limit to bonus compensation inserted by Chris Dodd into the stimulus bill that passed in the Senate.[63]
http://www.fireandreamitchell.com/chris-dodd-countrywide-scandal-mortgage-fraud-and-aig-bonus-scandal/