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Chris Dodd: Wall Street-Washington Incest Personified

Posted by Larry Doyle on January 6, 2010 7:56 AM |

Chris Dodd (D-CT)

Senator Chris Dodd (D-CT)

Chris Dodd is the embodiment of what is wrong with American politics.

Why?

The incestuous relationship between Wall Street and Washington took time and willing participants. Career politicians willing to sell their soul at the expense of the American taxpayer are critical for this incest to truly develop. Enter Chris Dodd.

Who was one of Freddie and Fannie’s big money recipients? Chris Dodd.

Who received a sweetheart mortgage deal from Countrywide’s Angelo Mozilo? Chris Dodd.

Who received huge campaign dough from the Wall Street mob? Chris Dodd.

Now that Dodd’s flow of money from his incestuous  partners at Freddie, Fannie, and other large financial outlets has stopped, he knows the gig is up. As the residents of Connecticut were preparing to fire him, he now pulls the classic, “You can’t fire me because I just quit.” No surprise. Quitters never win.

America may have been forced to bail out Wall Street, but they certainly have no interest in bailing out Chris Dodd.

Dodd will stand in front of the microphone, shed a tear or two, talk about his lifelong efforts of working for the people of Connecticut and America. He will have his fellow career politicians and partners in incest sing his praises. America will collectively vomit.

There is no doubt Dodd realizes he has no chance to win re-election. Rather than face the music and pressure to provide real truth and transparency on a host of issues, Dodd puts his tail between his legs and pretends he is a statesman.

If Dodd were a real statesman, he would use his bully pulpit to truly expose the deep incest that permeated the Wall Street-Washington corridor for so long. He can start by calling Mary Schapiro on the carpet and ask her what really happened at FINRA. He can follow that up by getting Franklin Raines and Leland Brendsel back on the carpet to expose the corruption that occurred at Freddie and Fannie. America is stuck paying the bills for the failings of the SEC, FINRA, Freddie and Fannie. No single politician was more front and center of these failings than Chris Dodd.

Will Chris Dodd truly find religion and serve America’s interest in these his final days? Will hell freeze over?

Politicians from both sides of the aisle need to appreciate that this calling was never intended to generate personal wealth at taxpayers’ expense. Career politicians like Chris Dodd are the poster boys for America to demand term limits and real campaign finance reform.

The Republican crowd is no better.

If Chris Dodd truly wants to grab some bit of saving grace, perhaps he can convince Barney “I want to roll the dice” Frank to join him on the train out of town.

Thoughts, color, comments always appreciated.

LD

P.S. Reports are not yet confirmed, but the fact that Dodd showed up twice on the Sense on Cents Hall of Shame may have been the final factor convincing him to quit.

  • Always Learning

    There may not be transparency surrounding healthcare reform, but the Democrats are certainly transparent here. Incumbents facing grim prospects of re-election in November are stepping aside for Democratic candidates who they hope are more attractive to the American public. It also clears the way for several months of reckless, lame duck decision-making.

    • Larry Doyle

      Good point. No doubt Dodd’s decision is pure politics. In fact, I have no doubt that this decision was made for him by the DNC and even more the White House.

      Who’s next? Let’s go back to the Sense on Cents Hall of Shame. Can we call a special election in New York and get rid of Schumer?

      • Always Learning

        And let’s not forget about Dodd’s AIG fiasco. Here’s a walk down memory lane:

        http://www.youtube.com/watch?v=1GoK0539Gl4&feature=player_embedded

        • TeakWoodKite

          Lets not forget Bear Stearns, one of the first “to big to fail” to bail and fail.

          Key members of Congress signaled that they were not seeking to block the Bear Stearns rescue plan.

          Sen. Chris Dodd, the chairman of the Senate Banking Committee, said he would not try to “second guess” the Fed and Treasury. Dodd is chairing the hearing of the events surrounding the Bear Stearns bailout.

          “I think they made the right decision,” Dodd said in an interview on Bloomberg TV.

          http://www.marketwatch.com/story/fed-treasury-defend-bailout-of-bear-stearns

          • Always Learning

            Thanks, Teak. There are just too many Chris Dudd (I mean Dodd) moments to remember. I guess that’s why he showed up on LD’s SHAME list twice. 🙂

  • Patriot

    Dodd….Moe
    Barney…Larry
    Schumer…Curly
    Reid…Bozo
    Pelosi…Morticia

    All the best from children’s TV. Problem is the joke is on America.

    • Nutmeg

      Richard Blumenthal, current attorney general in CT, just announced he is a candidate for this seat.

      Blumenthal has a stellar reputation. Unless there is a tidal wave against the Dems in 2010 elections, and there could be, Blumenthal will be tough to beat.

  • Pingback: Dodd, D-Conn., retiring from Senate; AG to run (AP) « NewsDropper.com()

  • Bill

    Now Dodd will make a bundle influence
    peddling his fellow opportunists.

  • Randy Bowman

    We should all be doing our own influence peddling to our friends, family, acquaintances and anyone else who will listen, to remove Frank, Pelosi, Reid and Schumer from office this year. Admittedly it is only a small step but doggone it, it is a step in the RIGHT direction!

  • Mike

    I’m not voting for any of his cronies.

  • Patriot

    Speculation running through blogosphere that Dodd may end up as Treasury Secretary. Hard to believe that would happen and it is still a year away but no doubt Dodd’s maneuver yesterday was pure politics at its very worst.

  • ron

    Where is the excoriation of the one former senator who is most reprehensible and responsible for the meltdown: Phil Gramm? Read Barry Ritholtz’ “Bailout Nation” for a full accounting of Gramm’s role (still not acknowledged by Gramm) in bringing us to the brink of disaster.

  • Larry Doyle

    Ron,

    You may have missed my remark,

    The Republican crowd is no better.

    Please recall that Gramm developed the Gramm-Leach-Bliley Act during the Clinton administration and with the blessing and encouragement of Robert Rubin et al.

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