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Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

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Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

2

'We are rapidly running out of time': Watchdog sounds Social Security alarm after 22% cut confirmed for 2032

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Costco CEO Ron Vachris rose from forklift driver to the C-suite without a college degree: ‘Don’t chase a title’ is the career advice that got him there

Power Point: Save the ship from going down

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Jessica Shambora
Jessica Shambora
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By
Jessica Shambora
Jessica Shambora
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March 27, 2009, 11:56 PM ET

“I’m trying to save capitalism, while some people are trying to save a paycheck.”

— Connecticut Sentor Chris Dodd in a Fortune story by David Whitford, in next week’s issue. The Democratic senator, who has served on the Senate Banking Committee since 1980 and is now its chairman, has long positioned himself as the champion of the consumer.

Dodd’s position has placed him firmly at the center of every piece of legislation passed since the crisis hit last fall, from the TARP bailout to the amendment capping bonuses for  beneficiaries of the program. This last move didn’t make him any friends on Wall Street. But Dodd doesn’t care–he’s cast himself as defender of the U.S. economy. Unfortunately he may have trouble simply defending that role, since it turns out he was the inadvertent author of a loophole in the bonus cap amendment which allowed AIG (AIG) executives to collect $165 million in bonuses. –Jessica Shambora

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