Wow:
Senator Christopher Dodd, trailing in presidential polls, ran ahead of his Democratic rivals in the race for money in the last quarter of 2006, propelled by contributions from the financial-services industry that he oversees.
Donations from employees of American International Group Inc., Citigroup Inc. and Morgan Stanley helped Dodd, the new chairman of the Senate Banking Committee, raise $3 million over the final three months of last year, according to Federal Election Commission records. The Connecticut Democrat raised more than any other candidate, Democrat or Republican — even edging New York Senator Hillary Clinton. Salent)
Apparently, it’s very, very good to chair the banking committee.
Source
Salent, Johnathan and Kristen Jensen. “Dodd Uses Wall Street `Juice’ to Outraise Presidential Rivals.” Bloomberg 7 February, 2007.
13 responses so far ↓
If this was Joe Lieberman, you all would be crying foul. Instead, you’re enthused and impressed by Dodd’s proclivity. I like both Dodd and Lieberman, but am embarrassed for those of you that throw stones and Lieberman and cheer the same activity by Dodd.
What’s the confusion? Dodd is a great Senator, Lieberman is a nut. Why should Democrats support fundraising across the board? Obviously my (our?) opinions are tied to whomever is doing the fundraising.
I thought the criticism of Lieberman was his ridiculous complaint that Lamont was using his own money to help fund his own campaign for office.
“Apparently, it’s very, very good to chair the banking committee.”
How long until this thought ends up on youtube? Imagine a video with someone dressed as a cross between Dodd and Mel Brooks delivering the punchline “it’s good to be the chairman.”
I wouldn’t hold my breath waiting for pro-consumer legislation to come out of the banking committee this year.
On the contrary, Grumpy, Dodd needs to prove his liberal bona fides if he wants to have a prayer at the nomination (it may not make a difference in any event). The need to grandstand may well drive him to push some important progressive legislation. How about bankruptcy re-reform, for starters?
Wilbur,
Not a chance in heck on bankruptcy. But I should’ve been more clear. I don’t expect terrible legislation to come out of the committee any more than I expect something really good. It’ll be pretty much status quo. Although there’s bound to be some modest thing the senator pushes through that doesn’t really do too much one way or the other (maybe on privacy and identity theft) but that he’ll sell as being a big deal for consumers.
Ehhh Hummm-
Now Genghis, I realize its still way early but I beleive that based on previous discussions a great, big, childish I TOLD YOU SO!!!
Yup. You were right.
Does anyone think Dodd will actually move to rein in the Credit Card industry? Or was January’s “shot across the bow”, (Dodd even uttered the word “usury”), just for show?
If Dodd wants my support he needs to show that consumers come first. But how can he do that, and take the bankers’ $$$$?
What a dance….
GC - BTW, me too.
Dodd is a lefty but to be truthful I have never known him to be duplicitous as Lieberman is evey other day of the week. As I recall it was MBNA of Maryland and Dealaware that pushed for the bankruptcy bill that passed a while back with Dodd voting agaianst it.
And voted against cloture, while Lieberman voted for it!
Jessie…
I realy enjoyed reading your blog, i needed some info on this subject for my new study economimy in the USA and your post helped me out a lot thank you for that …
You must log in to post a comment.