March 21, 2009
ARE SENATOR DODD’S A.I.G. ACTIONS IMPEACHABLE? Since Senators can’t be impeached, no. And I doubt the Senate will vote to expel him — the actual remedy — as they cover for their own. Still, it looks bad
But there’s this: Congressional Report: Countrywide Bent Loan Rules For Dodd:
An executive at mortgage giant Countrywide Financial overrode the company’s loan-writing policies to give a discount to Sen. Christopher Dodd, the powerful chairman of the Senate banking committee, according to an internal Countrywide document turned over to congressional investigators and obtained by The Courant.
As head of the banking panel, Dodd, 64, has become a convenient target for voter anger over the economic crisis. . . . Some of the worst blows came amid the furor over $165 million in bonuses American International Group Inc. paid some of its employees while receiving billions of dollars in federal bailout money. After first denying it, Dodd admitted he agreed to a request by Treasury Department officials to dilute an executive bonus restriction in the big economic stimulus bill that Congress passed last month. The change to Dodd’s amendment allowed AIG to hand out the bonuses and sparked a blame game between Dodd and Treasury Secretary Timothy Geithner.
Dodd was guarded Thursday when asked about Geithner. . . . He’s also under investigation by a Senate ethics panel for mortgages he got from Countrywide Financial Corp., the big lending company at the center of the mortgage crisis.
Then there’s the whole Irish “cottage” story, and more . . . .
UPDATE: A.I.G. Bonus Mystery Solved!