Ford Wants Bonus "Transparency," Won't Discuss His Bonus

Former Tennessee lawmaker, current Wall Street worker, and possible Senate candidate Harold Ford has already taken heat from his likely rival for not disclosing whether or not he earned a "taxpayer-backed" bonus for his work at Merrill Lynch. Now, he's taking heat from himself. Sen. Kirsten Gillibrand's campaign is circulating a video of a March 2009 appearance by Ford on MSNBC in which he says there is a need for greater "transparency" regarding banking bonuses funded with TARP money.

"I would consider, Mika, appointing sort of a TARP institution compensation committee. Three people of unimpeachable integrity—a Colin Powell, a Jim Baker, an Alice Rivlin—people of that nature, of that stature, who would not have to give consent for bonuses that these institutions would provide, but would certainly bring about the transparency that so many in Congress want and the country wants in terms of bonuses that these institutions provide or payment they provide to their top executives. And two, they would be able to recommend if performance was the driving factor here and not just contractual duties."

According to the Daily News, the Gillibrand press release is a sign the incumbent is "continuing to pressure" Ford. The release includes a quote from Gillibrand advisor Jeffrey Pollock, who claims that Ford—who is taking a leave of absence from Merrill Lynch while he decides whether or not to launch a full-fledged campaign—wants to have it both ways. "It sounds like Vice Chairman Ford thinks other Wall Street executives should disclose their bonus, but not him ... Does Ford still support this kind of transparency, and if so, why doesn't he get the ball rolling and start answering questions about how much of a bonus he got at Merrill Lynch?"

When asked if he received a bonus, Ford has declined to answer directly. He told Newsday: "I can say that I fulfilled the contract and was paid per the terms of the contract. There was a contract that was a part of it, and I received what was laid out in the contract."

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By Ben Muessig in News on February 9, 2010 12:37 PM

Comments [rss]

Sketto

I'm collecting signatures to get an initiative on the ballot in the next election.

It's the Harold Ford Go Fuck Yourself Initiative.

Please remember to vote!

FelixtheCat & Christine Quinn'

I'll sign that ballot. I'll vote for Gillibraqn, her feet don't stink as Ford's.

eastbwayanglo

I grew up around Memphis, and my college girlfriend's sister was a senior city official who worked directly with the Fords. Based on well documented investigations, the Ford family is knee deep in corruption and general bad behavior. Anecdotally, they have an entitled, "above-the-law" attitude that is disgusting.

Harold is one of the better, smarter, more polished ones, but it's my position that his ambition greatly outweighs his convictions and there's no reason to think that he'd be anymore loyal to NY'ers than he was to Tennesseeans.

He's one of the few people who would make me actually want to vote for Gillibrand.

my $0.02.

FelixtheCat & Christine Quinn'

Colin Powell who lied for Bush about the Weapons of Mass Destruction to the UN? Ford is an idiot. I will vote for Kristen!

GalBklyn

I'm glad KG is keeping the pressure on. It's quickly becoming obvious to all what a laughing stock New York would become if we elected this self-serving ...

We do deserve much much better then this. And, I believe we are lucky enough to already have what we need - I am casting my vote FOR Kirsten Gillibrand, because I think she is doing a great job. She is hardworking, cares about doing the right thing and using her influence and stature to make a difference for the rest of us. Over time, she will be a great Senator for New York.

longacre

I'm glad KG is keeping the pressure on. It's quickly becoming obvious to all what a laughing stock New York would become if we elected this self-serving ...
The same way we became a laughingstock by electing Hillary to the Senate?

nicemarmot

Go back to Tennessee, asshole.

God, never thought I'd say that. At least it's not Ohio.

Clarice City

Ford is such a douche. He only became a congressman at such a young age because his father practically handed him the seat. He's from major wealth and privilage and had the balls to complain that Gillibrand ran around collecting support and now he, as a carpet bagger, has to inconvinience himself and actually go collect individual voter support. I guess he thought that he could kick back at some lavish wall st. parties and call it a day- or maybe that someone like his dad would come along and just hand it to him.

I really wish we had better choices than these two clowns.