Dodd and His Envelopes

Worth Clicking: Blasts from the past wound Romney

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December 30, 2009

Dodd and His Envelopes

The New York Times Magazine runs a must-read piece by Steven Brill on executive compensation, with an excerpt that could haunt Sen. Christopher Dodd's (D-CT) already troubled re-election campaign.

"That Dodd led the attacks on A.I.G. when what came to be called the retention bonuses were revealed infuriates my A.I.G. friend. He says that his boss asked everyone at A.I.G. Financial Products 'to contribute the maximum to Dodd, because he was so important in Washington in terms of regulating the products we sell.' My friend went on to say: 'Before he attacked us, Dodd was in our office' -- in Wilton, Conn. -- 'giving a speech telling us how great we were. And our checks were in envelopes stacked up right there.'"

Dodd's response: "Yes, it happened. I remember having a fund-raiser there... I can't finance my own campaigns. I have to raise money. But what does this guy think? That if they give me money I have to do what they want me to do? That tells you something about them."

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Taegan D. Goddard is the founder of Political Wire, one of the earliest and most influential political web sites.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country, including the Washington Post, USA Today, Boston Globe, San Francisco Chronicle, Chicago Tribune, Philadelphia Inquirer and Christian Science Monitor.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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December 30, 2009