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Archive for the ‘Christopher Dodd’ Category

Obama to Sign Financial Reform Bill its Author Does not Understand

Posted by Steve Markowitz on June 25, 2010

Remember when House Speaker Nancy Pelosi told us that we needed to pass Obama’s healthcare reform to learn what was in the bill?  In case you have forgotten, posted below is a video of Pelosi’s remarkable words.

If you thought Pelosi’s words were taken out of context or a mere slip of the tong, fellow Progressive, Senator Christopher Dodd, today outdid the House Speaker.  Dodd, Democrat from Connecticut, is chairman of the Senate Banking Committee and led the effort to pass far- reaching new financial rules.  Dodd got the bill voted out of Committee early today and in a news conference said:

“It’s a great moment.  I’m proud to have been here. No one will know until this is actually in place how it works. But, we believe we’ve done something that has been needed for a long time.  It took a crisis to bring us to the point where we could actually get this job done.”

This is an incredible statement.  Here is a 2,000 page bill that will affect most American’s in significant ways and its author doesn’t even know how it will work.  Still, President Obama has praised the bill and promised to sign it quickly.  No wonder nothing in Washington works.  The knuckleheads passing bills either do not read them or do not understand them.  Signing bills under these circumstances should be an impeachable offence!


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Senator Dodd is Fired!

Posted by Steve Markowitz on January 6, 2010

Score one for democracy.  Senator Christopher Dodd, Democrat from Connecticut, has announced that he will not run for reelection.  Dodd, 65, has been a fixture in the Senate for 30 years.  His decision was not made out of a sense that it was time to retire, but because it was clear that he could not win reelection.

Dodd’s fall from grace is too typical in of our elected officials.  First, politicians seek power and then that power corrupts.  In Dodd’s case, he received a sweetheart mortgage rate from Countrywide Financial, who we had power over as a member of the Senate Banking Committee.  Dodd became a member of the “Friends of Angelo” VIP program at Countrywide, named after Angelo Mozilo, its chief executive.  That program gave Dodd favorable mortgage terms from Countrywide, a company that played a major role in the subprime mortgage mess that did so much damage to the country’s economy.

Dodd ran into additional voter discontent for his role in legislation that helped clear the way for bonuses to be paid to American International Group (AIG) executives, a firm that received a huge American government bailout.

Dodd’s “forced” retirement is a victory for democracy and the American electorate.  It demonstrates that elected officials will be called to task by the electorate should they put their interests before that of the people.  Now it’s time for the people to rise up and fire others, both Democrats and Republicans, who have not performed for the jobs that the American people elected them for.  Throw the bums out, the first step required to fix our troubled economy and country!

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