Dodd Targets Wall Street Bonuses

Sen. Chris Dodd has vowed to use all legal means available to confiscate Wall Street bonuses paid out at the end of last year. Dodd, the chairman of the Senate Banking Committee, told reporters that he would press the Treasury Department to recoup the more than $18 billion in Wall Street bonuses paid out after one of the worst years in stock market history. The bonuses were paid even as the Dow lost a third of its value in 2008, and the federal government offered hundreds of billions to the banking industry. “I’m going to look at every possible legal means and otherwise to make sure this money gets paid back. We can’t be underwriting [this] to the tune of billions of dollars,” said Dodd.