Tuesday, April 21, 2009

Chris Dodd be gone!

At all relevant times throughout our current financial mess, Sen. Chris Dodd was ranking minority member and since 2006 chair of the Senate banking committe.

All the while, he's been firmly and deeply in Wall Street's pocket, taking favors and "VIP" loans while lieing about his behind the scenes role. You can read all about his career highlights, including the "Countrywide Financial loan controversy", "Fannie Mae/Freddie Mac controversies", "Irish Cottage Controversy" and "Bailout and bonuses controversy".


Now, as his popularity hits record lows, it's clearer than ever that he's just another corrupt politician on the big guys' payroll.

"Wealthy Wall Street executives may be outcasts to some Americans, but not to Democratic Sen. Chris Dodd. Facing his toughest re-election fight, the chairman of the Senate Banking Committee is reaching out to the financial sector's deep-pocketed donors for the campaign cash he needs to hang onto his Connecticut seat. It's a practice that worked for Dodd in the past as millions flowed in and the five-term lawmaker cruised to victory. Down in the polls and looking at a tough Republican challenge next year, Dodd again is turning to the financial industry for campaign money, undeterred by the populist Main Street anger. More than $100,000 of the $1 million Dodd raised in the first three months of this year came from political action committees for the financial, insurance and real estate industries, according to his latest fundraising report. Among his donors were PACs for the American Insurance Association, Mortgage Bankers Association, Vanguard, Oppenheimer Funds, Charles Schwab, Real Estate Roundtable and Ameriprise Financial. Dodd raised $608,995 from individuals, among them top executives from companies such as Fidelity, Citigroup and Citizens Financial Group. His take from Connecticut residents was $4,250, an especially anemic display of political enthusiasm for the state's senior senator."


Remember the promises of new ethics rules and higher standards? The Democrats need to dump him, now. It's an embarrassment that he remains Senate banking committee chair.

BTW - Chris Dodd is a second generation Senate embarrassment. His dad, Thomas Joseph Dodd, also a Connecticut Senator, was one of only six people censured by the Senate in the 20th century. He stole campaign funds. Of course, Daddy Dodd's corruption was rumored to be broader in scope, but his electoral defeat, alcoholism and sudden death brought an early end to all investigations.


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