A conversation with US Senator Chris Dodd

with Christopher Dodd
in Current Affairs
on Wednesday, November 26, 2008 * * * * *

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A conversation with US Senator Chris Dodd (D-CT)

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Keywords:
economy
bailout
Cars
auto industry
Citi

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  • Comments 8
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    1. doodahdaze  12/03/2008 04:31 PM Report

      An ill wind... et al modesty unbecoming... Nader raiders parade dismayed... Et too, Brooth?... Toodles, sock puppet...

    2. REMant  12/01/2008 11:49 PM Report

      Confidence and about $1.50 these days will get you a cup of coffee. Also, I'm afraid the turkey lady was right. It won't help your circulation much to get a blood infusion, when your arteries are full of plaque. It is just possible that ppl haven't explained it better and the president-elect has recruited umpteen different advisors, because none of them knows how to. In which case, I'd say his work still isn't very far along.

    3. tartufe  12/01/2008 10:50 PM Report

      Quote added by staff

      Why not add this to your book or post it to your site/blog?

      We wound our modesty and make foul the clearness of our deservings, when of ourselves we publish them.

      Shakespeare, William

    4. hrc  12/01/2008 07:19 PM Report

      Good to see a senior senate member on for an hour, it's a great country.

    5. doodahdaze  12/01/2008 12:06 PM Report

      Come election time, Dodd, Frank, Pelosi, and all the rest of the criminal element will be paid back by the voters. Lucky for Clinton, she jumped boat... Aw who am I kidding?. They're all set for life... I wonder if that'll be enough to end the Clintons's propensity for corruption?... It's an ill wind...

    6. highflyer  12/01/2008 10:26 AM Report

      I will read all of tartufe's post ...

      Critical word omitted from above sentence.

    7. tartufe  11/30/2008 04:41 PM Report

      Second sentence third paragraph omitted critical word "not." Should read, "The serial bailing out of these mostly nefarious institutions will not remove the malignancy manifested by the too complicated financial instruments designed solely to enrich hedge funds, the large banks (a la Citigroup) and the investment banks.

    8. tartufe  11/30/2008 04:35 PM Report

      Dodd as a member of the Senate Banking Committee is like a fox guarding the hen house. For instance from Wikipedia: "Dodd is the number one recipient in Congress of campaign funds from Fannie Mae and Freddie Mac. Critics also charge that Dodd ignored repeated warnings that the two firms were in need of major reform.

      "While Dodd has blamed President Bush for the subprime mortgage crisis, efforts to address this issue in 2007 were delayed. While House Banking Committee chairman Barney Frank worked towards legislation, Dodd spent the fall on the presidential campaign trail. Following the failure of his presidential bid, Dodd proposed that the federal government buy up to $400 Billion in defaulted mortgages. He denied that this was a taxpayer funded bailout of the mortgage business."

      Paulson, Bernanke and the NY big-banks cartel need corralling and most a la Citigroup need to collapse if the economics and free markets so dictate. The serial bailing out of these mostly nefarious institutions will remove the malignancy manifested by the too complicated financial instruments designed solely to enrich hedge funds, the large banks (a la Citigroup) and the investment banks. Rolling stock, commodities, goods and services are moving. The commercial inventory, banking and the resultant transfer of goods and services is functioning. Any slow down in lending from the excesses we've had could merely be that we are trying to return to a more prudent level. But in relation to excess we are not comfortable with prudence having been profligate for so long. The medium and smaller regional and local banks are capable of moving commerce, and without the temptation of dealing in overly sophisticated financial scamming instruments (CDOs, CDSs etc). The NY banking cartels and hedge funds are the only beneficiaries of the bailout scam to date. Like feeding the predators that are trying to have you for lunch. Paulson and Bernanke pilferage of the treasury needs to be staunched. The biggest, most flagrant, heist in history. They have to be guffawing up their sleeves. Our system is flawed. Maybe there's something to the call by some to disband and remove the Federal Reserve System. They are debauching our currency a la a dollar bubble (subprime, savings and loan, tulips, dollars) - called inflation. Nearly eight trillion commitment with no meaningful product, merely printed paper, will make a gold standard imperative or a totally new currency (Monopoly money?). Our troubles are egregious greed centered in NY, by the financial wise-guys that are too clever by fractions. They and their institutions need purging from the system.