Obama, Buck Stops With Me, But No One in His Admin Responsible for AIG

Now the convergence of democrats and AIG is already well documented, as well as the fact that Democrats are being phony on the issue. But at the end of the day it was President Obama who signed the stimulus legislation that contained the wording that protected the bonuses he is now outraged about. Admit that and the buck stops you, otherwise its typical bs.

WASHINGTON (CNN) -- President Obama said Wednesday that no one in his administration had been responsible for supervising ailing insurance giant AIG but that ultimately, the buck stops with him."Nobody here drafted those contracts; nobody here was responsible for supervising AIG and allowing themselves to put the economy at risk by some of the outrageous behavior that they were engaged in," he said outside the White House. "[But] we are responsible, though. The buck stops with me."

Obama, in a defiant tone, once again lashed out at the controversial bonuses given to executives at AIG, which received $173 billion in government bailouts over the past six months.

Next time you pass an 800 billion dollar bill that you will sign, have your people read it first. By the way here is the clause Dodd put in the stimulus bill:

Here's the Cliff's Notes version of what's going on:

Chris Dodd inserted a specific provision into the stimulus that says any pay limitations would not apply to contracts agreed to prior to February 11, 2009. AIG also happens to be Chris Dodd's biggest donor. And AIGFP is housed in Connecticut.

Now the clause covers all bonuses, not AIG in particular, so Dodd could argue that it was not "pay for play" with AIG. Of course that leaves him open to the charge that it was favor for the entire finance industry. Well, Pick Your Poison Senator

Well, Dodd has Fessed up:

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.