Fox's Hannity, Doocy repeated falsehood that Dodd to blame for AIG bonuses
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SUMMARY: Fox News' Sean Hannity repeated the false claim that an amendment Sen. Chris Dodd added to the recovery bill "protected" AIG bonuses. Fox & Friends' Steve Doocy further advanced this falsehood by asserting that Dodd "inserted into the stimulus package specific language that kept these bonuses in." In fact, the relevant provision in the recovery act, which was based on an amendment by Dodd, actually restricted the ability of companies receiving funds under the act to award bonuses; it did not create a right for executives at AIG -- or anywhere else -- to receive bonuses.
On the March 17 edition of Fox News' Hannity, host Sean Hannity falsely asserted that Sen. Chris Dodd (D-CT) "slipped an amendment into the stimulus package last month that protected bonuses" for the American International Group (AIG). During the March 18 edition of Fox News' Fox & Friends, co-host Steve Doocy further advanced this falsehood, claiming that Dodd "inserted into the stimulus package specific language that kept these [AIG] bonuses in. Chris Dodd is the reason they are getting these particular bonuses." In fact, the relevant provision in the American Recovery and Reinvestment Act, which was based on an amendment by Dodd, actually restricted the ability of companies receiving funds under the act to award bonuses; it did not create a right for executives at AIG -- or anywhere else -- to receive bonuses.
Hannity's and Doocy's claims echoed the false headline of a March 17 FoxBusiness.com article -- subsequently posted by the Drudge Report -- which read: "Amid AIG Furor, Dodd Tries to Undo Bonus Protections He Put In." In fact, as the article itself noted, "[w]hile the Senate was constructing the $787 billion stimulus last month, Dodd added an executive-compensation restriction to the bill" [emphasis added]. Indeed, Dodd's amendment as introduced directed the Treasury secretary to require each Troubled Asset Relief Program (TARP) recipient to "meet appropriate standards for executive compensation and corporate governance": "a prohibition on such TARP recipient paying or accruing any bonus, retention award, or incentive compensation during the period that the obligation is outstanding to at least the 25 most highly-compensated employees, or such higher number as the Secretary may determine is in the public interest with respect to any TARP recipient."
The Senate adopted Dodd's amendment by voice vote. Subsequently, the conference committee assigned to work out the differences between the Senate version of the recovery bill and the House version -- included Dodd's amendment "with several modifications" in its version of the bill. Among those modifications, the bill adopted by the conference committee included the following language:
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 [of the Treasury] or the designee of the Secretary.
The amendment as modified by the conference committee was included in the final recovery bill passed by Congress and signed by President Obama.
As Media Matters for America documented, Fox News' Trace Gallagher and conservative radio host Rush Limbaugh have also misrepresented Dodd's amendment.
From the March 18 edition of Fox News' Fox & Friends:
DOOCY: Chris Dodd, by the way, who -- you know, he's been at the circle of the storm involving a lot of our banking system -- he inserted into the stimulus package specific language that kept these bonuses in. Chris Dodd is the reason they are getting these particular bonuses. And now, he's faking like, "Hey, wait a minute. Why didn't we get -- why didn't we know about this?" He knew about it. He put the language in.
Also, Chris Dodd received $103,000 when he was running for president from AIG. Barack Obama --
KILMEADE: Sure. Everyone did.
DOOCY: -- Barack Obama wound up with $100,000 from AIG as well. And Barack Obama saying, "We didn't know anything about it until last week." That is not true.
Tim Geithner ran the Federal Reserve of New York. The Federal Reserve and Tim Geithner were the architect of the particular bailout. How can he say he didn't know about it until he got the phone call?
From the March 17 edition of Fox News' Hannity:
HANNITY: Now, first, we learn today that Connecticut Democratic Senator Chris Dodd slipped an amendment into the stimulus package last month that protected bonuses agreed to before February 11, 2009, meaning the AIG bonuses that Senator Dodd tells Fox News this evening that he wasn't responsible for -- well, the February deadline.
mmfa is right, it was the White House that took the part out about previously contracted bonuses. they keep leaving that out.
Bush and his criminals were in on this, poor attempt on your part to make Obama part of this in proportion to the repugs.
Gee, another day, another doocebag attempt to deceive and deflect.
What are the odds?
I agree MMFA does not appear to be telling the whole story on this.
http://www.salon.com/opinion/greenwald/2009/03/17/dodd/index.html
I agree MMFA does not appear to be telling the whole story on this.
Perhaps...but what is crystal clear is that FOX just outright lies. Christopher Dodd did not add an exemption for bonuses...he tried to exclude bonuses entirely. FOX is lying by continuing to direct blame at Dodd. Do you think FOX will offer Dodd an apology?
Senators Dodd and Obama were the two largest receipients of AIG political donations last year (for their campaigns). While Fox is dishonest, I won't lose sleep if Dodd doesn't get any apology....he should probably not be involved in this matter at all.
Fox is a hack partisan waste of airtime, any apology coming from them is worthless. I am more concerned about lawmakers than media fools.
In other words, even you've come to terms with the fact that ya don't have a case, a clue or a prayer, so you're gonna try gonna try a new factually-challenged line of attack.
Nice try.
Romney and McCain both got large donations as well.
Are they spearheading the TARP effort? Does it make Dodd right?
MMFA has already shown shown FOX's lack of credibility over time. Should they also undermine their own by playing it this way?
No, that would be you, brucie.
Again, just which part of Bush was President in 9/08 when his incompetent-trash, supply-side slime house of cards collapsed and the gop-slop hit the fan, Paulson was still Treasury Secretary and Geithner wasn't part of the Bush Administration or acting on behalf of the then nonexistent Obama Administration continues to confound you, little factually-challenged fella?
Reality. Give us a visit. I'll get ya a rate on a room.
It's Dodd's name on the admendment. I don't care who added the language. If your name is on the admendment you are damn well responsible. All this admendments are being modified behind closed doors and then when something bad happens we can't blame anybody because it was all behind closed doors. So bottom line is I blame the person who's name is on the admendment and who Head this Banking Committee and that is Chris Dodd. To hell with these weasals ( DEMS and GOP ). All they do is constantly pass the buck and hide behind closed doors so they can't be blamed for anything. All the really evil crap gets added behind closed doors, the good stuff gets added not behind closed doors so they can look good. THis is an absolute disgrace.
So you blame Chris Dodd for trying to prevent the payment of bonuses...that makes a lot of sense.
Don't confuse the wacks with the facts. They hate it when that happens. They've got no shortage of opportunities to hate it as it is.
How do you know he was "trying" to prevent the payments? Because he says so ? I don't listen to the words of politicians - I look at the final piece of legislation. That is the objective standard. All the rest are words that we don't know if he believes them or not. Talk is cheap, look to actual objective results.
Don't take Dodd's word for it; read the original amendment. It put limits on executive compensation.
You are aware, BTW, that Chris Dodd was not even part of the Conference Committee which changed the amendment?
Oh yes I'm very aware of that. It was done Behind closed doors - and you know why it was done that way ???? So nobody could be blamed. Dodd's name is at the top of the admendment - he should have read the modifications. He is head of the banking committee. It is his responsibility to read modifications to an admendment that he introduced. IF my name was on it I would damn sure read the modifications.
I don't see why he would read it unless someone informed him that his amendment was bastardized in conference.
In other words, you don't want anybody confusin' ya with the facts.
That's just not gonna happen here, little fella.
You're in the wrong place. Try freeperville.
The fact is Dodd's name is at the top of the admendment. The fact is he is head of the banking committee. For him to stand up and say well "My admendment was modified behind closed doors" is BS and you know it. He should have read the modifications. He voted on it. And why wasn't he part of a committee behind closed doors modifiying it ?? If someone was modifying a piece of legislation with my name on it I would for sure be making sure I knew what was being put in or had my staff there. It is utter incompetance.
I don't see why he would read it unless someone informed him that his amendment was b@stardized in conference.
Yes he did, and he admited it
http://politicalticker.blogs.cnn.com/2009/03/18/breaking-i-was-responsible-for-bonus-loophole-says-dodd/
When can we see your apology to fox?
Sen. Chris Dodd (D-Conn.) looks like he may be facing a fresh political firestorm.
Dodd just admitted on CNN that he inserted a loophole in the stimulus legislation that allowed million-dollar bonuses to insurance giant AIG to go forward – after previously denying any involvement in writing the controversial provision. .
If the idiots at Fox actually knew anything about what they're saying, they could have easily done a CORRECT story and heaped blame on the WH administration.
Instead, they prove to be morons as usual and can't even hit that softball, but instead have to lie. Pathetic.
" it was the White House that took the part out about previously contracted bonuses..."
In order to get Republicans to vote for it.
You keep leaving that out.
do you have a link for that? did it need Republicans for passage? Dems are in majority.
I'm talking about wanting Republican votes, not needing them.
If so, that's what they get for tryin' to be bipartisan with gop scum.
Funny James, Dodd has admitted it was his fault.
http://politicalticker.blogs.cnn.com/2009/03/18/breaking-i-was-responsible-for-bonus-loophole-says-dodd/
Looks like you and MMFA were wrong again!!
Doocy is just stupid...end of that story. But didn't Sean Hannity win an award for lying? Isn't Hannity an award-winning liar? The best of all liars...?
From now on... I'm leaving this ---> link <--- for all to look at ... it is all anyone needs to know about what FoxNoise and corporate media is all about!
I have nothing more to say as it pertains to FoxNoise and all other corporate owned media! With very few exceptions on MSNBC.
very nice. well done
Thanks for the "link", captfoster2, but I would have liked it even more if I could have forwarded this to others. There is no way to do this. A most revealing article. I wish MMFA would make it easier for us to single out specific posts to send to our friends who may not have access to MM. They are not encouraged by having to read through dozens of comments to get to the particular post such as yours.
The right wing echo chamber
Hurting America every day
It's not like they know any other tricks.
First of all: one hundred three thousand dollars? wow!
Is not that chump change?
Second: Can't we demand/expect that "news" hacks back up there comments?
If this criminal, Doocy, knows there is specific language then show it... he read the bill right? Show us the money, so to speak... unless of course FOX news is not really interested in facts.... ;o}
It's not chump change to me...is it to you? I bet it wasn't to longshot candidate Dodd either. It also happened to be the largest single donation to a candidate they made.
Dodd was not a "longshot." And both Romney AND McCain got donations as well.
Sorry, your right - Dodd WAS a longshot. McCain and Romney still got AIG money though.
Yeah, and Romney was such a lock to be elected President, too.
"It's not chump change to me"...etc.
then it should be a one-hundred-and-three-thousand-percent _simple matter_ to show the _specific_ language in the bill, and the _quid pro quo_
chump change or not... I am sick of Innuendo Journalism
jmh asks, "Can't we demand/expect that "news" hacks back up their comments?"
The answer is NO. We are basically helpless. All we can do is what we are doing here at MMFA: talk to each other in the choir. If Media Matters had its own cable show on television then, and only then, could a wider public be reached. As it stands now, only the participants in these discussions exchange ideas and valuable information. How many could that be?
From what I understand Dodd's original admendment was modified behind closed doors and the clause protecting the bonuses where added. Apparently Dodd was not in the conference at the time.
But one thing we have to question is the following:
- Did Dodd read the modifications to his own admendment ? If he did not read them then I think it was his duty to do so. And if he did read them how come he did not stand up to this bonus protection ?
- Also why are these conferences behind closed doors in the first place ? This makes it easy for politicians to get away with things because then nobody is to blame. They just use the standard "well it was behind closed doors so we don't know who did it"
I just went to my New York Times page for "Watching the A.I.G. Hearing on the Hill", for Wed., March 19, at 3:20 PM. Next to the article was a list of "Blogrolls", about 100 of them. No mention of MMFA. See what I mean?
Why does everyone insist on blaming someone for this?
A. the money AIG received was part of the bailout. It had little to nothing to do with the recovery act signed into law last month. So the BAILOUT constructed by Bush, Paulson, et. al, is what failed to have the proper bonus provisions.
B. Now, let's talk about "THE LAW". Law's are proactive, not retroactive. If Dodd had added an amendment creating something that rendered past contracts destroyed there would be a larger constitutional issue at play here. The fact that they were limiting bonuses in the first place created a conversation about constitutionality if you actually read the text of the discussion on the amendment.
C. Why is it Dodd's fault to create protections where the Bush Administration had none? All of the sudden he's a bad guy because the limits weren't extreme enough?
D. Does anyone at Fox News understand how the world works? Dodd didn't give AIG the right to do anything. AIG ALREADY HAD THE RIGHT TO PAY OUT THE BONUSES. It's not like Dodd added this amendment, and AIG was like, "Sweet, Dodd is letting us send out 161 million dollars to people that don't deserve it!" Are you people insane?
Um, so I guess now that Dodd admitted live on CNN to reluctantly changing the language after discussions with Treasury you will change this story? Right? Fat chance. And, again, the NYT first credited Dodd with writing the language through an anonymous administration source, not Hannity or Limbaugh. I am sure that you will try to spin this in some new direction, but this is the point despite your future obfuscations: Dodd put language in the Stimulus that allowed AIG to give out its bonuses prior to Feb 11, 2009 and the Dems acted outraged AIG was giving out the bonuses, meaning they didn't know what was in their own bill, or they didn't know what the law governing such things is/was before writing the bill, or they are just faking their outrage now so as not to look bad for what the have done, and now they get the chance to say "Oh, who knows what really happened, its so confusing, and this finger-pointing, uh!" Say hi to George Soros for me.
Woops! What is going on here? The newest breaking news seems to contradict MMFA.
WASHINGTON (CNN) — Senate Banking committee Chairman Christopher Dodd told CNN’s Dana Bash and Wolf Blitzer Wednesday that he was responsible for adding the bonus loophole into the stimulus package that permitted AIG and other companies that received bailout funds to pay bonuses.
On Tuesday, Dodd denied to CNN that he had anything to do with the adding of that provision.
linkwow. maybe he is the fall guy, whatever it all smells bad.
Let's be specific. Dodd claims his staff made the change during final conference negotiations on H.R. 1 at the request of the Treasury Department. That the H.R. 1 conferees allowed this to happen is unconscionable, and that is a criticism that extends to both sides of the aisle. Yes, Fox jumped too quickly to the typical partisan stance (which is not surprising), but so did those of you who automatically assumed the story was as simple as believing Dodd's original denial.
When Washington negotiated with automakers, they required UAW contract renegotiation as part of any bailout agreement. But regardless of how powerful the UAW might think it is, it has no teeth at all compared to the power of those who stand to lose millions of dollars of retention bonuses.
MMfA should have probably said baseless claim or similar language instead of "falsehood". I don't see the basis for anyone claiming that Dodd was responsible for the specific language when they did, but it wasn't such a matter of certainty that it could be definitely declared to be true or false.
Funny how Dodd just admitted it was HIS fault
http://politicalticker.blogs.cnn.com/2009/03/18/breaking-i-was-responsible-for-bonus-loophole-says-dodd/
We will all wait for the MMFA retraction!!
AGREED!
You hacks a MMFA have ZERO credibility
You'd be a creditable source on areas near zero credibility.
Rush to judge, deny and ignore anything that might cause a reasonable person to wait for all the information.
As always, wingnuts can look at any intricate problem, and point to the exact democrat responsible, try, and convict him, with amazing speed.
its pretty easy to do when he admits it!!
As opposed to all the DEEP thoughts from Democrats the last 8 years?
"Oh, Bush did it?"
"Bush's fault"
"Bush lied"
Bush is stupid"
Please take your nuanced way of thinking and get a job in a philosophy department, and refrain from voting or otherwise participating in a rational society, because your way of thinking makes it impossible for you to do so.
CHENEY, Your name says it all . It is YOU and your RIGHT WING HEROS that have all the credibility of a submarine at crush depth. MMFA ,on the other hand has done a superb job of exposing the RIGHT WING MEDIA and the REPUBLICANS lies and misinformation.
I'm pretty moderate. I can find plenty of things I do not like on both the far left and far right. That being said, it seems pretty cut and dried. The man (Dodd) admiitted to inserting language that would allow a company like AIG to keep the bonus money. He says he did so at the request of the White House.
The real "fault" for the AIG issue is CONGRESS. They inserted the provision to pay, they voted on it (without reading it for sure) and they allowed it to happen. The boobs on the hill are like a bunch of bloviating monkeys chasing their tails. They are constantly telling us how they have everything under control but they are getting their butts kicked day in and day out by the folks on Wall Street.
Wake up people. Rhetoric does not equal smarts. Just becuase a politician is rambling on about protecting the little guy and we'll get that money back and blah, blah, blah does not mean they can OUTSMART the folks on the Street.
This morning Congress is standing around pointing fingers, playing the blame game. It wasn't me...If I had been there it would have been different...blah, blah, blah... Same ole' BS.
MMFA is a hack opertaion and you are one of the useful idiots in the true Soviet sense of the word.
CHENEY ,I KNOW YOU HAVE NO CLUE WHAT YOUR TALKING ABOUT BECAUSE ALL YOU DO IS REPEAT TALKING POINTS FROM LIMBAUGH HANNITY, LEVIN ECT. YOU SOUND LIKE LEVIN . WHY DONT YOU PULL YOUR HEAD OUT OF YOUR A-- AND DO SOME HONEST RESEARCH AND SEE WHAT 'S REALLY GOING ON. ACTUALLY , YOU SOUND MORE LIKE A SOVIET THAN MMFA. BY THE WAY I THINK MMFA DOES AN EXEMPLARY JOB OF EXPOSING THE MANY RIGHT WING LIES OUT THERE.
CHENEY ,I KNOW YOU HAVE NO CLUE WHAT YOUR TALKING ABOUT BECAUSE ALL YOU DO IS REPEAT TALKING POINTS FROM LIMBAUGH HANNITY, LEVIN ECT. YOU SOUND LIKE LEVIN . WHY DONT YOU PULL YOUR HEAD OUT OF YOUR A-- AND DO SOME HONEST RESEARCH AND SEE WHAT 'S REALLY GOING ON. ACTUALLY , YOU SOUND MORE LIKE A SOVIET THAN MMFA. BY THE WAY I THINK MMFA DOES AN EXEMPLARY JOB OF EXPOSING THE MANY RIGHT WING LIES OUT THERE.
Eh, better not jump the gun defending Dodd or Obama for that matter. CNN is reporting Dodd admits to being responsible for the bonus loophole! Reports are he did it at the request of Obama's justice department :-)
http://politicalticker.blogs.cnn.com/2009/03/18/breaking-i-was-responsible-for-bonus-loophole-says-dodd/
It is interesting how Dodd is blaming the adminstration for asking for the inserting of the language. Not sure if Obama's team asked for it or Dodd is simply lieing. We need, as a democracy, to get to the bottom of this. We need faith restored in government.
I suggest senate hearings where Dodd, Obama, Turbo Tax Tim be put on the stand. Any congressman or senator who voted for this ( DEM or GOP ) must be allowed to be questioned, under oath. And no teleprompters or any of that allowed. No staged interviews of Obama ( like with ABCNEWS ). They must answer the questions under oath, and live in open hearings, so we can figure out what is happening here. We have to detangle the web of corruption surrounding the administration and the congress, and figure out if strings were attached to the campaign money AIG employees gave to Dodd,Obama,McCain etc.
Dodd finally had to come out and admit his role... He did this at the insistance of the PRESENT ad... Wake up people...
Do we get a retraction or an apology? Will you promise to do a better job, now that you have egg on your face? The media needs to stop cheerleading on the sidelines and get into the game.
To the jerks at Media Matters:
Now that Senator DUDD has admitted he is corrupt when will YOU issue a retraction and an APOLOGY to the news outlets you have told lies about.
TO THE JERK CHENEY2012,Why don't you come back when you grow up?
What this I see on the news, that Senator Dodd admitted to reluctantly adding the exemption after getting pressure from the Treasury Department. So it appears both the Administration and Dodd are responsible. LIERS all of them
Well, there you have it, I suppose. No matter where we tick our mark on the policitcal spectrum, we have to ask the question whenever a statement is made out of DC, "am I hearing the truth now, will I hear it as a retraction tomorrow, or will I just never hear it?"
We deserve better.