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I just heard on CNN that the following clause created a loop hole in the conference committee that undid Chris Dodd's restriction on executive bonuses for companies that received money from the American Recovery and Reinvestment Act.

iii) The prohibition required under clause (i) shall not be construed to prohibit any bonus payment required to be paid pursuant to a written employment contract executed on or before February 11, 2009, as such valid employment contracts are determined by the Secretary or the designee of the Secretary.

So the question to ask now is... who added the loophole?

Dodd, aside from all the money that he received from AIG in the past, appears to be off the hook for this, because he was not in the conference committee.  

I am currently not able to find the full list of of the conference committee members, but that is what we need to be concentrating on now.  Threaten all of them with electoral consequences until one of them exposes the one who actually did.

Originally posted to Journey of a Liberal CEO on Wed Mar 18, 2009 at 07:48 AM PDT.

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