Senator Dodd's role in Economic Crisis
By bobmnu
@bobmnu (8157)
United States
March 18, 2009 1:05pm CST
It seems that when I am researching the economic crisis I keep coming up with Senator Dodd or a connection to him. Recently he has been criticizing the bonus paid to financial people. Then it come out that he slipped a line in the bailout bill, that was rushed through congress, that allowed for the financial people to keep their bonus and the Democrats approved. Next we find out that he is the top recipient of AIG political donations. AIG needs a big time bailout. He is the ranking Democratic and or Chair of the Senate Banking Committee, which is to oversee the industry and make sure they are doing things right. Country Wide Bank fail and Bank of America has to buy them out to keep thing going. Then we find Senator Dodd received a million dollar plus mortgage from Countrywide with very generous terms. Things like no point, sub par interest rates and a notation that he is a "friend of Manny's". When questioned he did not know that he was receiving special treatment, and he is overseeing the Banking Industry and does not understand how mortgages work. Fannie and Freddie need a federal bailout, together they gave over a million dollars to congressional candidates including, you guessed it Senator Dodd.
His name keeps popping up with every failure and every bailout and every campaign contribution and sweet heard deals. To all of this he claims little or no knowledge, yet the Democrats make him Chair of the very powerful committee. We need a clean sweep in congress.
2 responses
@Destiny007 (5805)
• United States
19 Mar 09
Now they are talking about taxing those bonuses that they and Dodd authorized at 90%, with the expectation that state and local taxes will eat another 35%.
So if my math skills are still accurate, that is a tax of 125% of the actual income which gives a net loss of 25%.
That's a nice scam if you can get it done.
Not only did Dodd get the most in campaign contributions, the 0bamunist was had the number 2 or 3 spot, depending on who is doing the reporting.
Either way, it is time to do a clean sweep of all of the liberal crooks in DC, from both parties, and including the 0bamunist and his cronies.
These problems are evident throughout Congress, and the more I read, the more I find that the whole damn buch should be in prison.
@mscott (1923)
• United States
19 Mar 09
I see he finally came out and said "they" voted for the bonuses. He still will not accept personal responsibility for screwing people but at least he is beginning to b shown for one of the major reasons behind this mess. The people in congress trying to "fix" the problem are the major reason for the problem. They keep trying to get away with stuff and then back track once it is proven they have no idea what they are doing.
