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>> I'M STEVE KOTCHKO.
WELCOME TO ANOTHER EDITION OF "ON THE RECORD."
FIRST A LOOK AT THIS WEEK'S STATE HEADLINES.
FORMER REPUBLICAN CONGRESSMAN ROB SIMMONS HAS HIS SIGHTS ON THE U.S. SENATE SEAT HELD BY CHRIS DODD.
SIMMONS IS THE GUEST IN OUR "NEWSMAKER SEGMENT"
EXECUTIVES OF A.I.G. TESTIFIED BEFORE A LEGISLATE I HAVE COMMITTEE EXPLAIN HOW A CONNECTICUT LABOR LAW WAS LINKED TO THOSE CONTROVERSIAL BONUSES.
WE WILL DISCUSS THAT TOPIC.
LAWMAKERS WANT TO ENCOURAGE THE USE OF REUSABLE GROCERY BAGS BY PROPOSING TO CHARGE 5 CENTS A BAG FOR SHOPPERS WHO ASK FOR BAGS AT THE CHECKOUT COUNTER.
AND THE CONNECTICUT UNEMPLOYMENT RATE CONTINUES TO RISE.
7.4%.
THOSE ARE THE HEADLINES, STAY WITH US.
>> AND MY GUEST THIS WEEK IN OUR "NEWSMAKER SEGMENT," FORMER REPUBLICAN CONGRESSMAN ROD SIMMONS, THANKS FOR BEING WITH US.
>> MY PLEASURE, THANKS FOR INVITING ME.
>> AFTER THE PAIN OF LOSING YOUR CONGRESSIONAL SEAT IN 2006, WHY DID YOU DECIDE IN THE PAST FEW WEEKS TO ESSENTIALLY JUMP INTO THE U.S. SENATE RACE AND TAKE ON A VETERAN DEMOCRATIC SENATOR CHRIS DODD.
>> WELL, AS YOU SAY, THE 2006 ELECTION, THE NOVEMBER ELECTION WAS PAINFUL.
WE WORKED EXTREMELY HARD.
IT FOLLOWED OUR WORK IN 2005, TO SAVE THE SUBMARINE BASE HERE IN CONNECTICUT AND TO LOSE BY 83 VOTES UNDER THOSE CIRCUMSTANCES WAS TOUGH.
BUT WE ALSO FELT A LOT OF IT HAD TO DO WITH THE MOOD IN THE DISTRICT WITH REGARD TO THE BUSH ADMINISTRATION.
9 I WAS VERY PLEASED WHEN GOVERNOR RELL OFFERED ME THE POSITION IN THE FOLLOWING MARCH TO BE THE BUSINESS ADVOCATE FOR THE STATE OF CONNECTICUT.
I SPENT THE LAST TWO YEARS TRAVELING AROUND THE STATE, VISITING OVER 400 BUSINESSES, TALKING TO LITERALLY THOUSANDS OF BUSINESS MEN AND WOMEN.
AND WHEN THAT JOB DISAPPEARED IN JANUARY OF THIS YEAR, THE QUESTION WAS WHAT DO I DO NOW?
WHERE CAN I SEEK OPPORTUNITIES TO BE OF SERVICE?
AND A LOT OF PEOPLE CAME TO ME AND SAID WHY DON'T YOU CONSIDER RUNNING FOR THE SENATE.
I DID GIVE IT CONSIDERATION.
I WAS INVITED TO WASHINGTON, D.C. TO MEAN WITH SENATOR CORNIN WHO IS THE HEAD OF THE REPUBLICAN COMMITTEE IN THE SENATE AND WE BEGAN WORKING ON IT WHEN LO AND BEHOLD THE QUINNIPIAC HOLD CAME OUT.
THAT LET THE CAT OUT OF THE BAG AND THAT ACCELERATED MY ANNOUNCEMENT.
>> WERE YOU STUNNED BY THAT POLL?
YOU WEREN'T IN THE RACE, YOU ARE A FORMER CONGRESSMAN FROM EASTERN CONNECTICUT, BUT THAT POLL SHOWED YOU ACTUALLY BEATING OR BEING NECK AND NECK OR BEATING SENATOR DODD BY A POINT OR SO OUT OF NOWHERE.
THAT HAD TO BE ENCOURAGING, BUT DO YOU THINK THAT POLL IS SIGNIFICANT?
>> I THINK IT'S SIGNIFICANT.
YOU ASKED IF I WAS STUNNED BY IT.
I WAS STUNNED, BUT NOT SPECIFICALLY BY THAT POLL.
THE SENATE REPUBLICANS HAD DONE A POLL SEVERAL WEEKS BEFORE, WHICH WAS RELEASED TO ME.
THEY DIDN'T DO IT WITH JUST ME IN MIND.
THEY DID IT WITH ANY REPUBLICAN IN MIND AND WE DISCOVERED THE NUMBERS WERE ALMOST EXACTLY THE SAME.
SO WE DECIDED TO KEEP IT QUIET AND TO MOVE FORWARD WITH OUR PLANNING WITH AN ANNOUNCEMENT IN APRIL.
BUT WHEN THE QUINNIPIAC POLL CAKE OUT, WE KNEW THOSE RESULTS COULD REPLICATE THE PREVIOUS POLL.
SO WE WERE PREPARED FOR IT WHEN IT CAME OUT.
>> WHAT'S THE STATUS OF YOUR CAMPAIGN RIGHT NOW?
YOU TOLD US A WEEK AGO YOU WERE GOING TO FILE YOUR OFFICIAL PAPERS TO RUN, HAVE YOU DONE THAT YET?
>> THE OFFICIAL PAPERS HAVE BEEN FILED.
I WILL BE INTERVIEWING FOR CAMPAIGN MANAGERS.
WE HAVE A TREASURE.
I HAVE A CAMPAIGN CHAIRMAN AND A GROUP OF VOLUNTEERS HELPING US TO GET UP AND RUNNING.
>> SO IF THERE ARE HUNGRY REPUBLICAN JOB SEEKERS VIEWING THIS PROGRAM THEY SHOULD CALL YOU.
>> WE COULD CERTAINLY USE THE VOLUNTEERS.
QUITE SADLY THE UNEMPLOYMENT RATE HERE IN THE STATE OF CONNECTICUT IS GOING UP.
PART OF HIGH MOTIVATION AND INTEREST IN GETTING INVOLVED, I AM A GREAT BELIEVER IN FREE ENTERPRISE.
I THINK CONNECTICUT IS A WONDERFUL STATE WHEN IT COMES TO HIGH TECH QUALITY JOB, AND A HIGHLY PRODUCTIVE AND EDUCATED WORK FORCE.
BUT I YOU THINK WE ARE REAL Y BEING HURT BY SOME IS OF THE ECONOMIC PROBLEMS WE ARE FACING.
WE RUN THE RISKS OF LOSING SOME OF THESE VERY TALENTED PEOPLE WITH THIS GROWING UNEMPLOYMENT RATE.
>> LET'S GO BACK TO THE QUINNIPIAC POLL.
IT MATCHED UP SEVERAL OTHER REPUBLICANS AGAINST SENATOR DODD, BUT HE MANAGED TO BEAT THE OTHERS IN THAT POLL.
YOU WERE THE ONLY ONE THAT ACTUALLY CAME OUT BY A POINT.
WHY DO YOU THINK THAT IS?
>> I THINK IN THE CASE OF THE OTHER TWO CANDIDATES, ONE WOULD BE AMBASSADOR FOLEY AND THE OTHER WOULD BE SENATOR CALIGERI.
THESE ARE BOTH VERY FINE PEOPLE WITH GOOD CAREERS AND GOOD RECORDS.
BUT I WOULD ARGUE THEIR EXPOSURE TO THE PUBLIC HERE IN CONNECTICUT OVER THE LAST SIX OR SEVEN YEARS PROBABLY IS LESS THAN MINE.
I RAN FOUR VERY TOUGH RACES FOR CONGRESS.
I WON THREE OF THE FOUR.
THEY WERE ALL TIGHT.
AND I BOUGHT ADVERTISING IN HARTFORD, SO IF I WENT TO TORRINGTON OR DANBURY, I ACTUALLY ENCOUNTERED PEOPLE WHO WOULD SAY I HAVE SEEN YOU ON TV.
SO THAT HELPS.
>> WOULDN'T THIS BE SOME DEMOCRATS THAT MIGHT SAY ROB SIMMONS, HE COULDN'T EVEN WIN HIS OWN CONGRESSIONAL DISTRICT AND KEEP IT.
HOW ABOUT THAT RAP THAT, WHY SHOULD REPUBLICANS GO WITH A CONGRESSMAN WHO COULDN'T HANG ONTO HIS OWN SEAT?
>> ONE THING YOU LOOK AT IN ANY CAMPAIGN IS WHAT THEY CALL THE GENERIC VOTE, AND THE GENERIC VOTE IS THE QUESTION YOU ASK PEOPLE -- IN THE NEXT ELECTION ARE YOU GOING TO VOTE REPUBLICAN OR DEMOCRAT?
DON'T MIND WHO THE CANDIDATE IS, WHICH PARTY ARE YOU GOING TO VOTE FOR?
IN ALL OF MY RACES, THE GENERIC VOTE HAS BEEN AGAINST ME.
12%.
14% THE FIRST TIME, 16% TO 18% AGAINST SULLIVAN.
THE GENERIC RACE AGAINST SULLIVAN WAS OVER 20 POINTS.
THAT MEANS YOU HAVE A HELL OF A MOUNTAIN TO CLIMB.
THERE WAS A LOT OF ANGER DIRECTED TOWARDS THE BUSH ADMINISTRATION AND AS A REPUBLICAN I TOOK A LOT OF THAT HEAT.
>> WHAT ABOUT CRITICS WHO SAY, LOOK, ROB SIMMONS WAS A PRETTY GOOD FRIEND OF BUSH IN THE REPUBLICAN YEARS, AND HE VOTED WITH BUSH A LOT OF TIMES ON CONTROVERSIAL ISSUES THAT ARE STILL OUT THERE LIKE THE IRAQ WAR, THE ECONOMY, TAX BREAKS FOR THE RICH, ET CETERA, SO IF YOU RAN AGAIN AGAINST SENATOR DODD, EVEN THOUGH HE HAS ISSUES, WOULDN'T YOU EXPECT THOSE KINDS OF POINTS TO BE RAISED?
AND THIS IS A STATE THAT VOTED HEAVILY FOR BARACK OBAMA.
SO CALLING SOMEONE A FRIEND OR ALLY OF GEORGE BUSH MIGHT NOT GO DOWN SO WELL.
>> THEY CAN CALL ME ANYTHING THEY WANT TO CALL ME.
OBVIOUSLY THEY WILL.
THE FIRST BILL I INTRODUCED WAS THE 8-MILE WIDE SCENIC RIVER BILL AND THE BUSH ADMINISTRATION TESTIFIED AGAINST IT.
THE SUBMARINE BASE WAS CLOSED BY THE BUSH ADMINISTRATION.
NOT EXACTLY A FRIENDLY ACT.
MARINE 1 HELICOPTER MADE OUT OF STRATFORD, SIKORSKI, THE PRESIDENT'S PEOPLE TOOK THAT AWAY FROM US AND A LOT OF MY CONSTITUENTS WORK FOR SIKORSKI.
SO FOR THOSE WHO SAY I AM A FRIEND OF GEORGE BUSH, THE POLICIES OF HIS ADMINISTRATION WERE HARMFUL TO ME.
WHAT DOES IT MEAN TO BE A FRIEND?
PRESIDENT CLINTON GAVE A PARDON TO ONE OF THE INVESTORS IN THE DODD IRISH COTTAGE FOR EXAMPLE.
I CAN REALLY TALK ABOUT FRIENDS.
>> LET ME ASK YOU ABOUT SENATOR DODD, WHY DO YOU THINK HE IS SO VULNERABLE IN THESE POLLS?
YOU.
>> THINK HE'S DONE IT TO HIMSELF.
I REMEMBER WHEN HE MOVED TO IOWA IN THAT FRIVOLOUS PRESIDENTIAL CAMPAIGN.
HE MOVED TO IOWA.
THAT'S A SLAP IN THE FACE TO THE PEOPLE OF CONNECTICUT.
NO OTHER PRESIDENTIAL CANDIDATE ACTUALLY PULLED UP AND MOVED TO A PRIMARY STATE, OR, IN THIS CASE, A CAUCUS STATE.
NOBODY.
I THINK THAT WAS REALLY UPSETTING.
AND I KNOW A LOT OF PEOPLE IN THE COMMUNITY TALKED ABOUT THAT.
THERE'S A LOT OF CONCERN ABOUT THE MORTGAGE.
AT A TIME WHEN PEOPLE ARE BEING FORECLOSED OUT OF THEIR HOMES HERE IN CONNECTICUT AND ELSEWHERE, AND WORRIED ABOUT, YOU KNOW, WHETHER THEY CAN PAY THAT MORTGAGE, HE GETS A SWEETHEART MORTGAGE DEAL FROM COUNTRYWIDE AND THEN THE WHOLE COLLAPSE OF THE FINANCIAL SERVICES SECTOR WHICH SUGGESTS TO ME THAT HIS OVERSIGHT COMMITTEE, THE BANKING COMMITTEE DIDN'T GET THE JOB DONE AT A TIME WHEN HE WAS CHAIRMAN.
THERE ARE A LOT OF THINGS AT PLAY HERE THAT DO NOT REALLY REFLECT ON ME.
IT REFLECTS ON HIM.
>> DO YOU THINK SENATOR DODD, IN RUNNING FOR PRESIDENT, YOU SAY HE MOVED TO IOWA AND SPENT TIME ON THE CAMPAIGN TRAIL.
IF HE HAD BEEN SPENDING MORE TIME IN WASHINGTON AS HEAD OF THE BANKING CAN COMMITTEE AT THAT POINT, DO YOU THINK THAT HE WOULD HAVE DONE SOMETHING TO PREVENT AT LEAST ELEMENTS OF THIS FINANCIAL COLLAPSE?
>> I SPENT FOUR YEARS OF MY LIFE AS STAFF DIRECTOR ON THE SENATE INTELLIGENCE COMMITTEE WORKING FOR GOLDWATER AND MOYNIHAN, A BIPARTISAN COMMITTEE.
A NO TIME IN THOSE FOUR YEARS DID THEY SIMPLY TAKE OFF FOR ANYTHING OTHER THAN MEDICAL EMERGENCY IS FROM THEIR DUTIES.
THESE DUTIES ARE AN IMPORTANT FUNCTION.
THE SENATE HAS VERY IMPORTANT OVERSIGHT RESPONSIBILITIES.
BUT FOR HIM TO VACATE THOSE RESPONSIBILITIES TO RUN FOR PRESIDENT AND, IN FACT, TO MOVE TO IOWA HAD TO HAVE HAD SOME IMPACT.
>> WHAT DO YOU MAKE OF THE WHOLE A.I.G. BONUS FLAP?
EARLY ON AS THAT CONTROVERSY STARTED TO EXPLODE A FEW WEEKS AGO, DODD WAS BLAMED FOR PUTTING LANGUAGE IN THE BILL THAT ALLOWED THOSE BONUSES.
HE WAS ON THE PROGRAM THAT SAID NOT SO.
I TRIED TO PUT LEGISLATION IN THERE THAT WOULD BAR THESE KIND OF EXECUTIVE EXCESSES BUT THE TREASURY DEPARTMENT ASKED ME TO MODERATE IT AND I WENT ALONG WITH THAT, AND UNFORTUNATELY THAT MAY HAVE CONTRIBUTED TO THESE BONUSES BEING AWARDED.
WHAT DO YOU MAKE OF THAT?
AND SHOULD THOSE A.I.G. BONUSES HAVE BEEN GRANTED TO A COMPANY GETTING GOVERNMENT MONEY IN A BAILOUT.
>> FIRST OF ALL THE HARTFORD CURRANT WAS CORRECT IN ITS ASSESSMENT WHEN IT PUBLISHED A HEADLINE SAYING FLIP-FLOP.
THE SENATOR STEAD ONE THING ONE DAY TO CNN AND ANOTHER THING ANOTHER DAY TO CNN AND IT LOOKS LIKE THOSE TWO STATEMENTS WERE INCONSISTENT WITH EACH OTHER.
AGAIN, THIS GETS TO THE ISSUE OF THE CHAIRMAN OF THE BANKING COMMITTEE.
THE CHAIRMAN OF THE BANKING COMMITTEE SHOULD KNOW WHAT'S IN THESE BILLS.
HE SHOULD KNOW WHAT THOSE AMENDMENTS SAY.
IF THE AMENDMENT SAYS THAT ANY BONUS OR ANY CONTRACT FOR A BONUS BEFORE FEBRUARY 11TH, 2009 IS VALID, HE SHOULD KNOW THAT.
WHEN I SERVED, AGAIN, WITH SENATOR GOLD WATER AND SENATOR PATRICK MOYNIHAN OF NEW YORK, WHEN WE WOULD TAKE A BILL TO THE FLOOR, WE FLEW EXACTLY WHAT WAS IN AND OUR CHAIRMAN KNEW OR WE DIDN'T TAKE IT TO THE FLOOR.
I REALIZE THIS LARGE BILL, THIS 1,200-PAGE BILL IS A BILL MOST PEOPLE DIDN'T READ.
I HAVE TO ASK MYSELF, WHAT KIND OF LEGISLATION IS THIS THAT WE ARE MOVING SO QUICKLY WE CAN'T EVEN READ THE DETAILS AND THE CHAIRMAN DOESN'T KNOW WHAT'S IN THERE.
>> WHAT ABOUT THE A.I.G. BONUS ISSUE IN GENERAL.
DO YOU THINK THOSE FOLKS DESERVED THE BONUSES, OR THEY SHOULD NOT HAVE BEEN AWARDED AT A TIME THE GOVERNMENT IS GIVING GOVERNMENT FUNDS IN A BAILOUT.
>> IF IT'S TAXPAYER BAIL JUT, I HAVE PROBLEMS.
AND WE ALSO UNDERSTAND THERE'S A CONTRACTUAL RELATIONSHIP THERE.
AND I ALSO HAVE PROBLEMS THAT CERTAIN INDIVIDUALS HAD THEIR NAMES REVEALED AND THEIR HOMES AND THEIR PRIVACY WAS PLACED AT RISK.
YOU KNOW, THE BUSINESS COMMUNITY HERE IN THE STATE OF CONNECTICUT IS RESPONSIBLE FOR A SUBSTANTIAL AMOUNT OF INCOME TAXES, CAPITAL GAINS TAXES AND OTHER REVENUES.
IF CONNECTICUT BECOMES HOSTILE TO BUSINESS, IT'S VERY EASY FOR THEM TO MOVE.
WE HAVE TO BE CAREFUL.
IT'S NOT JUST THE BUSINESS ITSELF WE WANT TO KEEP IN CONNECTICUT.
IT'S THE BUSINESS PERSON.
ESPECIALLY THOSE WHO MAY, LET'S SAY, WORK IN NEW YORK CITY BUT LIVE IN CONNECTICUT, WE DON'T WANT TO SCARE THEM OUT OF THE STATE INTO NEW JERSEY OR SOME OTHER LOCATION BECAUSE THEY ARE BEING TARGETED UNFAIRLY.
>> WHAT'S YOUR TAKE ON THE OBAMA ADMINISTRATION'S HANDLING OF THE ECONOMIC CRISIS UP TO THIS POINT?
ARE THEY DOING A GOOD JOB OR SHOULD OTHER THINGS BE DONE?
>> WELL, FIRST OF ALL, I HAVE TO SAY THAT SOMEBODY WHO WAS INVOLVED IN THE CIVIL RIGHTS MOVEMENT MANY YEARS AGO, I THINK IT'S A BIG PLUS FOR THE UNITED STATES TO HAVE ELECTED AN AFRICAN-AMERICAN PRESIDENT.
I THINK THAT'S A BIG PLUS.
NOW, WITH REGARD TO SELECTING MR. GEITHNER AND FLUSHING OUT THE TEAM THAT IS SUPPOSED TO BE WORKING THESE ISSUES, I THINK THERE'S SOME WEAKNESSES THERE.
IT APPEARS MR. GEITHNER IS NOT ABLE TO GET ANYBODY STAFFWISE TO HELP HIM OUT AND THERE'S BEEN A SERIES OF MISSTEPS.
I ALSO QUESTION WHETHER THESE VAST TRANSFERS OF MONEY FROM THE PRIVATE SECRETARY TO THE PUBLIC SECTOR IN THE NAME OF STIMULUS IS REALLY THE BEST WAY TO GO ABOUT IT.
>> DO YOU KNOW A BETTER WAY?
>> WE DON'T HAVE TO GO BACK TO THE DEPRESSION TO FIND AN EXAMPLE.
WE CAN GO BACK TO THE REAGAN OR KENNEDY ADMINISTRATION, WHERE REDUCING TAX RATE AND GETTING SOME OF THE BUD OFF OF BUSINESS, ESPECIALLY SMALL BUSINESS, THIS BAILOUT OF THE BANKS, I WOULD HAVE VOTED AGAIN THAT.
MUCH TOO MUCH MONEY TO BIG CORPORATE ENTITIES WITH NO STRINGS ATTACHED.
YET WHEN I GO TO CONGRESS AND ASK MEMBERS OF THE CHAMBERS, HOW ARE YOU BENEFITING FROM THE STIMULUS, NO HANDS GO UP.
>> THE BUSH ADMINISTRATION WAS RESPONSIBLE FOR A LOT OF THOSE BANK BAILOUTS AND THEY SAID IT WAS NECESSARY TO PREVENT AN OVERALL COLLAPSE.
>> I THINK THE BUSH ADMINISTRATION WAS WRONG AS WELL.
I AM NOT TAKING PARTISAN SIDES HERE.
YOU ASKED ABOUT THE PRESIDENT.
I DON'T CARE WHETHER BUSH WAS PRESIDENT OR OBAMA I WOULD HAVE VOTED AGAINST THE BANKING BILL IN BOTH CASES.
>> SENATOR DODD, SUPPOSE ALL THIS STUFF CONTINUES TO MOUNT UP AND THERE'S ANOTHER POLL DUE OUT AND QUINNIPIAC POLLS CONTINUE TO SHOW THAT SIMMONS IS DOING WELL AND DODD IS DOING WAD AND SENATOR DODD FOR WHATEVER REASON DECIDES NOT TO RUN FOR RE-ELECTION.
THE BIG NEGATIVE IS OUT OF THE CAMPAIGN AT THAT APPOINTMENT AND MAYBE THE DEMOCRATS PUT SOMEBODY IN WITH A CLEAN SLATE.
SOMEBODY POPULAR, PERHAPS, LIKE ATTORNEY GENERAL BLUE MEN NALL.
THEN WHERE ARE YOU?
>> A POLL IS A SNAPSHOT.
THEY GO UP AND DOWN.
THEY CONDITION AFFECTED BY A PIECE OF NEWS, EITHER FAVORABLE OR UNFAVORABLE.
I WOULD ARGUE THAT I AM A KNOWN QUANTITY.
I HAVE SERVED IN THE CONNECTICUT GENERAL ASSEMBLY FOR TEN YEARS IN THE CONGRESS FOR SIX, I HAVE SIX YEARS OF EXPERIENCE AS A SENATE STAFFER, SO THE U.S. SENATE IS NOT A STRANGE PLACE TO ME.
I BEGAN AS AN INTERN, LEGISLATIVE ASSISTANT, STAFF MEMBER WORKING FOR GOLDWATER AND CHAFFE, AND I THINK I BRING SUBSTANTIAL EXPERIENCE TO THE TABLE.
I CAN'T PREDICT THE FUTURE AND TELL YOU WHAT SENATOR DODD OR BLUMENTHAL IS GOING TO DO.
ALL I CAN DO IS TELL YOU WHAT I AM GOING TO DO.
I AM RUNNING FOR SENATE.
>> IS IT BETTER FOR ROB SIMMONS THAT SENATOR DODD REMAIN IN THE RACE?
>> IT'S BETTER FOR ME TO KEEP MY EYE ON THE BALL AND DO MY BEST TO REPRESENT THE PEOPLE OF CONNECTICUT.
>> HAVE YOU HAD ANY CONTACT WITH THE NATIONAL SENATE CONGRESSIONAL COMMITTEE THAT HELPS CANDIDATES RUN?
IN THE PAST, A LOT OF CONNECTICUT REPUBLICANS HAVE GONE DOWN THERE AND BEEN PROMISES VARIOUS THINGS, WE WILL BACK YOU, PROVIDE SUPPORT FOR YOU, PROVIDE MONEY FOR YOU, ET CETERA, AND THEN IT DOESN'T COME THROUGH.
>> I WAS INVITED TO GO DOWN IN EARLY FEBRUARY AND VISIT WITH THEM, WHICH I DID.
I HAVE BEEN DOWN ONE TIME SINCE.
I HAVE BEEN AROUND FOR A WHILE.
I UNDERSTAND WHAT THESE PROMISES WITH ALL ABOUT.
I UNDERSTAND THAT THEY CAN MAKE A COMMITMENT ONE DAY, BUT THEN WHEN YOU GET TO THE ELECTION, THINGS CHANGE AND THEY HAVE TO MOVE IN A DIFFERENT DIRECTION.
EVERY RACE I HAVE EVER RUN I HAVE BUILT FROM THE GROUND UP.
GRASSROOTS FROM THE BOTTOM UP AND THIS RACE IS NO DIFFERENT.
>> WE HAVE ABOUT A MINUTE LEFT.
LET ME ASK YOU, THEN, HOW MUCH MONEY DO YOU NEED TO RAISE AND HOW TOUGH IS IT GOING TO BE FOR YOU TO DO THAT?
>> I HAVE PICKED A FIGURE OF $5 MILLION AS NECESSARY TO RUN A BASIC, SOUND RACE.
WHEN I FIRST RAN FOR CONGRESS, I WAS TOLD I NEEDED $750,000 TO $800,000.
IN FACT, WE RAISED $17 MILLION THAT YEAR, ENOUGH TO GET TV AND GET THE MESSAGE OUT.
I DON'T EXPECT TO BE SPENDING HUGE AMOUNTS OF MONEY AND I DON'T THINK THE PEOPLE REALLY WANT THAT.
WHAT THEY WANT IS A CLEAR, CONCISE MESSAGE COMING FROM ME TO THEM ABOUT WHO I AM, WHAT I REPRESENT, MY LIFE OF PUBLIC SERVICE AND I THINK I CAN DO IT WITHOUT SPENDING A HUGE AMOUNT OF MONEY.
>> WE WILL SEE HOW IT WORKS OUT FOR YOU.
THANKS FOR BEING WITH US, ROB.
WE WILL BE RIGHT BACK WITH OUR "REPORTERS ROUNDTABLE."
MY GUESTS THIS WEEK IN OUR "REPORTERS ROUNDTABLE" ARE KEN DIXON OF THE HEARST CONNECTICUT NEWSPAPERS AND SUSAN HAIGH FROM THE ASSOCIATED PRESS WIRE SERVICES.
I WANT TO TALK ABOUT THIS LEGISLATIVE COMMITTEE IN WHICH THE A.I.G. CORPORATION WAS BROUGHT IN TO TALK ABOUT THESE BONUSES.
SUPPOSEDLY, CONNECTICUT LAW WAS USED AS PART OF THE EXCUSE OR THE RATIONALE FOR AWARDING THESE.
DO YOU THINK THE DEMOCRATS GOT WITH WHAT THEY WANTED OUT OF THIS HEARING?
>> THE FUNNY THING IS FOR THE FIRST SEVERAL HOURS WE HEARD ABSOLUTELY NOTHING ABOUT THAT LAW.
THE GENTLEMAN THEY WOUND UP HAVING TO TESTIFY TOLD THEM I AM NOT AN ATTORNEY, I AM AN OFFICIAL WITH THE HUMAN RESOURCES DEPARTMENT.
SO THEY DIDN'T GET TO THAT UNTIL THE END WHERE THEY DID TALK ABOUT WHETHER OR NOT THIS LAW WAS JUSTIFIABLE FOR THESE RAISES, AND THEN YOU HAVE LAWMAKERS SAYING WHY ISN'T THE BANKING COMMITTEE BRINGING THIS UP?
MAYBE THE LABOR COMMITTEE SHOULD BE DEALING WITH THIS.
>> IS THE REPUBLICANS HAD A LOT OF QUESTIONS FOR THE RATIONALE FOR THIS HEARING.
KEN, THE ATTORNEY FOR JOHN ROLAND WAS HERE REPRESENTING A.I.G. AND KEPT INTERJECTING IN HERE WHENEVER SOME OF THE LAWMAKERS GOT CLOSE TRYING TO IDENTIFY A.I.G. EMPLOYEES, WHO GOT SOME OF THESE BONUSES, WHAT WAS THAT ALL ABOUT?
>> IT WAS ABOUT BILLABLE HOURS.
HE'S DOING HIS JOB.
I DON'T THINK HE BROKE A SWEAT.
I DON'T THINK THE HEARING FOUND ANYTHING NEW.
IT WAS GOOD POLITICAL THEATER.
JUST ONE MORE DISTRACTION FROM THE BUDGETS CRISIS THE STATE HAS.
>> HE WAS CLAIMING MANY DEATH THREATS TO THE A.I.G. EMPLOYEES, THAT'S WHY HE DIDN'T WANT THEIR NAMES MENTIONED.
>> WE HAVE SEEN THOSE, THERE HAVE BEEN COPIES OF THE E-MAILS SENT.
SOME ARE HORRIBLE.
THERE WERE THREATED LIKE, I AM GOING TO STRING UP YOUR FAMILY WITH PIANO WIRE, OR, I KNOW WHERE YOU LIVE, OR GIVE ME THE ADDRESSES OF ALL THESE PEOPLE.
A LOT OF THESE FOLKS WHO WERE SUBPOENAED HAVE RECEIVED NASTY PHONE CALLS AND HAD TO HIRE SECURITY GUARDS TO PROTECT THEIR FAMILY AND TOLD THEIR KIDS NOT TO GO TO SCHOOL.
SO THERE IS THIS CONCERN BUT THE SUBPOENAS STILL STAND.
ARE THE PEOPLE STILL SWIFTING IN THE WIND?
>> IT WOULD COME DOWN TO WHOEVER, WHATEVER DECIDES WHAT THE LAW IS.
THE A.I.G. IS KIND OF SCAPEGOATS, 200 MILLION AMOUNTS TO LIKE $2 ON A $2,000 CHECK THAT THEY ARE GETTING ALL THIS.
>> IT BECOMES SYMBOLIC AND ICONIC WITH THE AMOUNT OF MONEY USED TO BAIL OUT CORPORATIONS.
AND YOU HEARD IN THE FRONT PART OF OUR PROGRAM WITH ROB SIMMONS.
HE DOESN'T EVEN THINK SOME OF THE BANKS SHOULD HAVE BEEN BAILED OUT.
YET THE BUSH ADMINISTRATION SAID WE NEEDED TO DO THAT TO SAVE THE ECONOMY FROM COLLAPSE.
THIS IS THE OTHER SIDE OF THE STORY, SO TO SPEAK AND PEOPLE ARE ANGRY ABOUT IT, AS EVIDENCED BY THESE HORRIBLE DEATH THREATS WHICH ARE WAY OVER THE TOP.
BUT THAT'S THE  ENVIRONMENT WE LIVE IN THESE DAYS.
DO YOU THINK ANY NEW LAW IS GOING TO COME OUT OF THESE HEARINGS?
ANY CHANGE IN THE LAW?
>> THE CHAIRMAN OF THE BANK'S COMMITTEE SAYS THEY ARE LOOKING AT THIS NOT NECESSARILY BECAUSE OF THIS WAGE ABILITY PROVISION, BUT THEY WANT TO SEE WHETHER OR NOT WE SHOULD PASS ANY LAWS IN CONNECTICUT THAT AFFECT THE FINANCIAL SERVICES INDUSTRY, THE BANKING INDUSTRY, TO PREVENT ANYTHING LIKE THIS FROM HAPPENING, AGAIN.
BUT THIS COMMITTEE HAS ALREADY PASSED ITS DEADLINE FOR PASSING OUT LEGISLATION.
PERHAPS THEY CAN TACK IT ONTO SOMETHING LATER O. I KNOW THEY ARE LOOKING AT HEDGE FUND REGULATIONS.
THIS WAS BASED IN WILSON.
SO PERHAPS THEY FEEL THERE IS SOMETHING THE LEGISLATION CAN DO.
A LOT OF THE REPUBLICANS ON THE COMMITTEE ARE SAYING WHAT CAN WE DO.
>> I KNOW THE REPUBLICANS LOOK AT THIS AS GRANDSTANDING, PROBABLY AKIN TO, AND WE HAVE HAD THIS BEFORE, KEN, WHERE THERE HAS BEEN ANGER ABOUT GASOLINE PRICES OVER THE YEARS AND THE LEGISLATURE HAS CALLED IN OIL COMPANY EXECUTIVES TO TESTIFY.
WHAT CAN THE CONNECTICUT LEGISLATURE DO IN THOSE SITUATIONS TO CHANGE THINGS?
IS THIS THE SAME KIND OF THING, OR BECAUSE THERE IS NO LINK OR HOOK, THAT THE DEMOCRATS WANTED TO HAVE A HIGHLY PUBLICIZED HEARING.
>> IT'S A REACTIONARY POTENTIAL.
DON WILLIAMS WANTS TO PIGGYBACK ON THE LAW THAT HOUSE PASSED THAT WOULD TAKE 80%, OR 90% OF THE BONUS AWAY FROM THESE PEOPLE.
YOU KNOW, IT'S LIKE -- IT'S JUST A DIE VERSION FROM THE REAL BUSINESS.
>> THERE'S A BIGGER QUESTION HERE AS TO WHETHER CONNECTICUT WAS DUPED BY A.I.G.
IN OTHER WORDS, DID A.I.G. WANT TO AWARD THESE BONUSES TO EMPLOYEES AND USE THE CONNECTICUT LAW AS A RATIONALE OR A HOOK TO BE ABLE TO DO THAT, OR DID THEY FEAR, AS THEY HAVE SAID, THEY DIDN'T FOLLOW THE CONNECTICUT LAW, THE COMPANY COULD BE ON THE HOOK FOR TWO OR THREE TIMES THAT AMOUNT OF MONEY?
>> IT'S HARD FOR ME TO TELL YOU --
>> I AM NOT ASKING YOU YOUR OPINION.
I AM JUST SAYING IS THAT SOMETHING LAWMAKERS SHOULD LOOK AT?
>> I THINK THEY ARE GOING TO LOOK AT IT.
THERE'S STILL A DISCUSSION OF WHETHER OR NOT WE SHOULD HAVE THIS LAW ON THE BOOKS THAT SAYS, IF YOU SUE YOUR EMPLOYER, THEY ARE ELIGIBLE FOR THESE.
BUT THE A.I.G. EXECUTIVES THIS WEEK SAID THIS WAS A PROGRAM THAT WAS PUT TOGETHER BEFORE A.I.G. RECEIVED THE FEDERAL BAILOUT MONEY.
SO I DON'T KNOW IF THAT WAS IN THE BACK OF THEIR MINDS, THE CONNECTICUT LAW.
MAYBE IN HINDSIGHT THEY DECIDED TO USE IT.
>> THAT FILING THAT THE ATTORNEY GAVE TO NEW YORK EARLIER THIS MONTH SEEMED LIKE HE WAS CREATING THE RATIONALE FOR IT.
BACK DATED.
>> THE A.I.G. EXECUTIVES WERE ALSO TRYING TO SAY, ESSENTIALLY, WE ARE THE GOOD GUYS WEEKS ARE NOT THE BAD GUYS WHO CAUSE ALL THESE PROBLEMS AND CAUSE THE COMPANY TO COLLAPSE.
THOSE FOLKS ARE GONE.
WE ARE THE PEOPLE TRYING TO RESURRECT THIS COMPANY AND USE TAXPAYER DOLLARS TO SAVE IT AND STABILIZE THINGS, DO YOU THINK THEY SUCCEEDED IN THAT EFFORT?
>> I THINK IT'S A GOOD ARGUMENT.
BUT THAT DOESN'T MEAN A.I.G, AS A WHOLE, SHOULDN'T BE HELD RESPONSIBLE AND IN CONTEMPT FOR LETTING GREED JUST TURN THE COMPANY INTO JUNK.
IT WAS JUNK AND WE HAVE TO BAIL IT OUT.
>> BUT IT IS INTERESTING THIS GENTLEMAN DID EXPLAIN THAT A LOT OF THESE PEOPLE, THEY GOT SOME SORT OF A NOMINAL SALARY.
I AM NOT SURE WHAT IT IS.
BUT MOST OF THEIR COMPENSATION WAS GOING TO BE COMING FROM THESE BONUSES, AND THEY WANTED THESE BONUSES TO KEEP THESE PEOPLE THERE.
RIGHT NOW THEY ARE WINDING DOWN THE BUSINESSES FOR THE FINANCIAL SERVICES UNIT.
AND IT'S REALLY COMELY CAMPED STUFF INVOLVING DERIVATIVES AND THEY NEED THESE PEOPLE ON BOARD IN ORDER TO CLOSE JOB.
>> IF THE LEGISLATURE DECIDES THEY WANT TO DO ANYTHING ELSE WITH A.I.G. OR THE LABOR LAW INVOLVED, WE WILL SEE.
FOLKS, THANKS FOR BEING WITH US.
WE WILL SEE YOU SOON "ON THE RECORD."
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