Dodd Expands On His Story

Sen. Chris Dodd has basically changed expanded on his story on the bonuses clause in the stimulus bill. After saying Tuesday that the bonuses clause--which protects bonuses bound by contract before the stimulus bill was signed--was added in conference, having nothing to do with him, Dodd went on CNN last night and admitted (video here) that his staff had added the provision, at the behest of Obama administraion officials at the Treasury (after CNN's Dana Bash found that out from an unnamed Treasury official). Dodd explained the ins and outs of the situation, but ultimately said "I apologize" for initially claiming to have had nothing to do with the clause. how he initially responded to a question about the clause.

The Banking Committee chairman issued a statement yesterday reminding everyone that he was a leader in the fight to limit executive pay (the original clause about executive pay, after all, was his), and including language at the new administration's behest is not the same as pushing for the bonus protection clause on his own. But the RNC is already hammering Dodd over this, and no one, I think, will be surprised to see slow-motion, black-and-white footage of Dodd's CNN appearance in ads run in 2010 by the National Republican Senatorial Committee or Rob Simmons, Dodd's potential GOP opponent.