Tuesday, March 16, 2010

Corrupt Dodd to clean up corrupt system?

Trying to fix the broken U.S. financial system is no way to win a popularity contest. Standing by himself, Christopher Dodd, chairman of the Senate Banking Committee, on Monday announced his second attempt to plug loopholes in financial regulation and find ways to prevent a repeat of the crisis that overtook Wall Street in late 2008. His first attempt was declared dead on arrival last fall by his Senate colleagues.

Dodd is not running for reelection because of his involvement in various corruption scandals, insider deals and questionable transactions, including a fishy vacation home in Ireland and a discounted home mortgage loan from a failed lender he regulated.

The fact that he is still chair of the senate banking committee is an embarrassment.

Why is a corrupt man the person to trust to reform a corrupt financial system from which he personally profited?

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