Wednesday, April 15, 2009

Since it would be a shame to let corrupt politicians pass

without comment on this day, let's look at Sen. Chris Dodd(Slimeball-CT):
Two years ago, presidential candidate Chris Dodd announced that he wouldn't be running for the Senate in 2010 but he didn't mean it.

He only said it to get the Federal Election Commission to let him use leftover millions from his 2004 Senate race to run for president. (The FEC requires a presidential candidate to say he's not going to run for the office for which the funds were contributed but doesn't hold him to it. It's a very thoughtful rule.)

As things turned out, using up his Senate campaign money was a mistake, Dodd's second, if you consider the first was his decision to run for president. There was a lot of money involved, $4.7 million, and it went toward the $16 million Dodd raised to attract 1 percent of the Democratic Iowa Caucus before quitting the race and moving his family out of their Iowa home and back to Connecticut
And it goes from there.
The report might have added that some of Dodd's most generous supporters aren't really in a position to give for the very good reason that they (Lehman Brothers, Bear Stearns) no longer exist or aren't exactly desirable (AIG) donors at the moment.
My, such connections!
As part of that effort, he's currently taking bows for getting a long overdue crackdown on credit card abuses through his banking committee. The bill deals with well-established practices like usurious interest rates, hidden fees and the tendency of credit card companies to foist their cards on anything that moves. But these abuses have been around for a decade or more, affording one more opportunity to ask Dodd where he's been.

The answer to that question will frequently be, “He was off running for president while the economy was burning.”

And there remains the growing need for campaign money. In late March, John Paulson, described as one of the world's richest hedge fund managers, scheduled a fundraiser for Dodd at the same time his committee is involved in hedge fund regulation, raising the usual questions. Then, the fundraiser had to be moved when reporters asked why Dodd was having the party at New York's Harmonie Club, which has been criticized for having no minority members
But it's got members with lots of cash, which Dodd is very willing to kiss ass for.

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