Legal Commentary

Misinformation On The AIG Bonus Issue

By Big Tent Democrat

At daily kos, Lawrence Lessig writes:

As we all know by now, insurance giant AIG sparked national outrage by paying more than $165 million in executive bonuses after receiving a $170 billion taxpayer bailout. What fewer people know is that AIG gave more than $9 million in campaign contributions to Congress . . . The Number 1 lifetime recipient of AIG money? Senate Banking Chairman Chris Dodd, who received $281,000 (just edging out George W. Bush).

Lessig promulgates a false implication - that Senator Chris Dodd acted as he did because of AIG contributions. It is clear now that in fact Dodd acted as he did at the behest of the Obama administration. In fact, in last week's issue of The Economist (p. 29) (before the AIG bonus scandal broke), the following was written:

Chris Dodd, who faces a battle to retain his Connecticut seat in 2010, inserted tough new restrictions on bankers' pay into the fiscal stimulus package despite the administration's objections.

Lessig's implied narrative is simply false. Whether Lessig's agenda is good or not, using falsehoods to support it is clearly wrong.

Speaking for me only

Full post as published by TalkLeft on March 20, 2009 (boomark / email).