The White House is trying to pass the AIG bonus blame to Sen. Chris Dodd, pointing to his hand in an executive-compensation clause inserted into the stimulus bill—and journalists are letting it happen, writes Glenn Greenwald in Salon. Actually, the bonuses were only possible because the Obama administration insisted that compensation limits not be retroactive, and dragged an unhappy Dodd along.
“Dodd was the one fighting against the White House in order to apply the prohibition to all bonus payments,” writes Greenwald. Rather than question the administration’s bogus claim, the New York Times has let itself be spun. “The only point here is that what the White House and many journalists are claiming simply did not happen. They're just inventing a false history in order to blame the politically hapless Dodd for what Geithner and Summers did.”
(Read more Timothy Geithner stories.)