Reid on Stimulus Bill Bonus Language:"hindsight is 20/20"

Please, next time try and read the bill before you turn it into law.

WASHINGTON (CNN) -- Democratic leaders scrambling to strip AIG executives of bonuses are having a hard time answering a key question: Why didn't Congress act to prevent the bonuses in the first place?"There's always more we can do, and hindsight is 20/20," said Senate Majority Leader Harry Reid Tuesday.

But though some lawmakers did move to prevent bonuses in the stimulus bill last month, the final language actually makes an exception for pre-existing contracts, effectively exempting AIG.

In addition we have this from senate Democrat Max Baucus:

"Frankly it was such a rush -- we're talking about the stimulus bill now -- to get it passed, I didn't have time and other conferees didn't have time to address many of the provisions that were modified significantly," said Baucus.

That is an admission of criminal negligence because of a rushed piece of legislation that was rightfully described by the wall street journal as a tragedy. By the way there was language in the bill introduced by Olympia Snow and Democrat Ron Wyden to tax the bonuses:

but the idea was stripped from the stimulus bill during hurried, closed-door negotiations with the White House and House of Representatives

That would mean the Obama admin stripped the language along with Dodd, anyway once again here is the language that has destroyed Dodd:

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.

The convergance of the Democrats and AIG continues.