Christopher Dodd
Posted at 12:06pm on Jun. 13, 2008 Why is Christopher Dodd Still the Chairman of the Senate Banking Committee?
And Why Are Republicans Still Known As the Party of Corruption?
By blackhedd
You’ve seen the fine reporting done by my RedState colleagues on the Jim Johnson story (Here’s Moe’s take.)
Jim Johnson is the past CEO of Fannie Mae. You know, the government-sponsored entity that buys up a huge chunk of all the home mortgages originated in this country.
Being an accomplished business executive is a fine credential to be a member of Barack Obama’s Vice-Presidential vetting committee. But it’s a bummer that Johnson has accepted low-rate loans from Countrywide Financial that are available only to friends and associates of embattled Countrywide former CEO Angelo Mozilo, as the Wall Street Journal reported earlier this week.
Obama isn’t the kind of guy to tolerate conflicts of interest among people who work for him. Therefore, he immediately denied that Johnson actually does work for him. (Johnson was running Obama’s VP-candidate vetting process, but he wasn’t actually working for Obama. I think that means that Johnson was planning to just send Obama an email with some recommendations at the end of the process, but I can’t be sure.)
Anyway, Obama got tired of being second-guessed on this, so he fired Johnson informed Johnson that he would no longer be not working for the Obama campaign.
Today, there’s this. It turns out that Jim Johnson wasn’t the only important guy to receive loans at rates you and I can’t touch.
There’s also Senator Christopher Dodd, Democrat of Connecticut.
Now let me tell you why you need to be mad as a plucked hen about this:
Because Senator Dodd is the Chairman of the Senate Committee on Banking, Housing and Urban Affairs. Along with Barney Frank, Dodd is the guy whose name will be on the landmark mortgage-bailout legislation now pending.
Haven’t I been telling you for months that bailing out homeowners who bought more house than they could afford will inevitably have the effect of bailing out mortgage lenders who had no business making those loans in the first place?
Why is Christopher Dodd accepting personal handouts from the mortgage-lending industry, while simultaneously pushing legislation to bail them out at the expense of everyone who plays by the rules?
Why is Christopher Dodd still running the Senate Banking Committee?
-Francis Cianfrocca (“blackhedd”)
Posted in Breaking News | Christopher Dodd | Corrupt Democrat Watch | Countrywide Financial | curruption — Comments (28)/ Email this page » / Read More »
Posted at 7:03am on Apr. 2, 2008 Congress Considers A Mortgage Bailout
The Scene Shifts to Washington
By blackhedd
As I told you yesterday (here), the Federal Reserve's aggressive measures to stabilize the financial system appear to be paying off, at least in the near term.
But the scene is shifting to Washington, as Capitol Hill Democrats hurriedly consider a home-mortgage bailout, perhaps by expanding the mandate of the Federal Housing Administration (FHA).
As I wrote here, there are very good reasons to oppose a straightforward bailout, in which taxpayer funds would provide relief to people who are either unable or unwilling to stay current on their mortgage payments. If you agree with me, today would be a very good day to call your Senator and tell him or her about it. Particularly members of the Senate Banking Committee, chaired by Christopher Dodd of Connecticut. (The ranking Republican is Shelby of Alabama.)
And Mr. Dodd spoke in the Senate on this subject yesterday (prepared text here).
I warned you that this was coming. What Senator Dodd said, in essence, is this: "the Administration [sic] just spent $30 billion in taxpayer money to bail out Bear Stearns. We're gonna kick their butts for doing that, starting tomorrow. But now that we saved Wall Street's bacon, we have to do the same thing for homeowners."
More...
Posted in Christopher Dodd | Economy | federal reserve | FHA | Mortgage Bailout | Senate Banking Committee — Comments (53)/ Email this page » / Read More »
