Tuesday, April 28, 2009

4:1 Odds On "Friend Of Dodd" Indictment

Portfolio magazine put together a list of the most likely former CEO's to end up getting indicted, and the list included none other than Countrywide's Anthony Mozilo, the now-infamous Friend of Dodd who curried favor with numerous politicians by providing them VIP deals on mortgages.
Angelo Mozilo, Former CEO, Countrywide
Legal issue: The company faced predatory lending charges from about 11 state attorneys general. Mozilo is accused of fraudulently misleading investors about credit risks
Possible charges: Securities fraud and insider trading.
The PR headache: No executive embodies the subprime crisis more than Mozilo. The public seems hell-bent on holding someone accountable.
The investigation: The SEC and FBI are all over Countrywide, probing Mozilo’s trading in company stock and the company’s financial disclosures.
Jury deliberation: “This guy’s managed to make himself public enemy No. 1.” ... “The subprime people did a great injury to this country. These guys were selling junk beyond junk. Mozilo’s on the wrong side of a very difficult issue.”
Odds of prosecution: 4:1
The verdict: The smart money bets against Mozilo.
Fortunately for Mozilo, his good friend Chris Dodd has a history of securing Presidential pardons for felons who are willing to hook him up.

HT National Review Online.

Monday, April 27, 2009

More Miscalculations From Chris Dodd

Via National Review Online, Chris Dodd made the following statements, revealing what he thinks of you and me, his constituents:
"When I go home," Dodd says, crossing Constitution Avenue in the fading light, "people don't ask me about the warrants, or the accountability standards, or how much transparency there is, or what am I doing about systemic risk. I mean, some do, obviously, like community bankers and businesspeople who are knowledgeable. The average person looks at me and says, 'What are you doing? You're writing a check [for bailouts]? And 700 people at Merrill Lynch on average got $5.1 million? What are you people thinking?' You know? You cannot explain this to them."
Got that? Chris Dodd does not think you are intelligent enough to understand all of the complicated things he is doing in Washington for us. If you question whether throwing hundreds of billions dollars of borrowed money at a problem he created is the best way to deal with our current predicament, it is only because you are a simpleton, and you should just leave that kind of heavy lifting to the professionals.

His constituents aren't buying what he is selling. The Register-Citizen has a report indicating that Dodd's message may not be resonating as he hopes (HT Politico):
Just how much trouble is Sen. Chris Dodd in as he runs for re-election next year? You’ve seen the surprising opinion polls showing record unfavorability, and other poll finding that any Republican — even those virtually unknown across the state - would beat him easily if the election were held today. Well, at the well-attended annual meeting of the Northwest Connecticut Chamber of Commerce on Thursday, outgoing President Joe Greco’s comments about various dignitaries, including Gov. M. Jodi Rell, being unable to make it was followed by a crack about Dodd being available but the group asking him to stay away. It was met by laughter and a very loud round of applause from the several hundred, typically reserved, local businesspeople, in the room.
Then there's the Irish cottage thing Dodd was just beginning to think had faded away. Not so. Judicial Watch has filed a formal complaint with the United States Senate Select Committee on Ethics. You can read the entire complaint, complete with exhibits, here. And instead of addressing the complaint on it's merits, Dodd said the following through a spokesman (as reported by the Hartford Courant):
"It's appalling that any 'respectable' news organization would give currency to the rantings of this laughable band of kooks," spokesman Bryan DeAngelis said in a brief statement. "Their allegations are a joke, beneath dignifying.
No denial, no explanation, no recent appraisal showing there is no issue here, just an attack on the newspaper that reports that a complaint was filed. Despite his plummeting poll numbers he has still refused to acknowledge, even to himself, apparently, that Connecticut voters think he is full of crap. Chris Healey at The Everyday Republican has a post on the complaint, as well.

And it's not just Republicans. Even though the President has sworn his allegiance to the Dodd re-election campaign, there is at least one Dem who doesn't think Dodd deserves Obama's support. Roger Pearson, who is considering a primary run against Dodd, wrote this letter to the President asking him to reconsider.

Here's to hoping Dodd stays in the race long enough to lose to whoever the Republicans ultimately choose to challenge him.


Thursday, April 23, 2009

Chris Dodd Goes All In With His 7-2 Off-Suit Face Up

Apparently deciding to stick with his recent populist pandering, Chris Dodd is getting some press for this:
The Senate passed an amendment to an anti-fraud bill yesterday that would create an independent outside commission, complete with subpoena power, to investigate the causes of the crisis on Wall Street. The amendment was written by Sen. Johnny Isakson (R-GA), but was cosponsored by, among others, Sen. Chris Dodd (D-CT).

"Through dozens of hearings at the Banking Committee, we have documented a web of negligence, regulatory failures, and other abuses that caused this crisis in our financial system, and in the broader economy," Dodd said upon passage of the measure. "It will be the responsibility of this independent commission to build upon these findings, investigating every level of regulatory failure, and sniffing out any illegal or abusive activity within the financial services industry."
This is akin to O.J. putting together a commission to determine who killed his wife. Everyone knows, including Dodd himself, that a great deal of responsibility for the current economic crisis lies at his feet. He's been on the Senate Banking Committee for more than a quarter of a century, he encouraged sub-prime lending while accepting vast amounts of money from the lenders themselves, blocked additional regulation of the banking industry, and as the economy was being driven to the brink during his "leadership" as Chairman of the Committee, he abandoned his responsibilities in favor of a move to Iowa as part of his embarassing Presidential run.

So what is he thinking sponsoring the creation of a commission that can do nothing less than embarass him? I've come up with two possibilities:

1. He thinks Connecticut voters are oblivious enough to believe his charade in the short run, and figures that by the time the commission is convened and releases any report outing him, he will be safely elected for his final term as U.S. Senator; or,

2. He is banking (bad pun) on the commission being staffed with individuals as incompetent as your average Obama appointee, who will conduct their investigation and determine that everything is the fault of George W. Bush, and he thinks Connecticut voters are not intelligent enough to see through it.

Are there any other explanations for such an ill-advised bluff?

Sunday, April 19, 2009

The Downside For Dodd In Outraising His Opponents By $1 Million

Campaign fundraising numbers for the first quarter of 2009 were release a few days ago, and Chris Dodd came in with a $1.05 million haul, well ahead of his challengers (Caligiuri at about $45k and Simmons not reporting any significant fundraising). Generally when a three decade incumbent out-raises his potential challengers by a million dollars in a quarter, even if his challengers got in the race late in the reporting period, it is considered positive news and a good sign.

Not so for Chris Dodd. Even after reading this account in the Connecticut Post and follow-up from other news outlets, I though it must be a typo or some sort of misunderstanding, but I was wrong. Of his million dollars raised from nearly 400 donors, a mere $4,250 from only 5 individual donors came from Connecticut voters. That is right...only 0.4% of Dodd's cash raised came from the individuals he represents.

Rob Simmons took immediate advantage, sending out this letter to supporters and reportedly getting more in-state individual donation within minutes that Dodd managed to drum up in the first quarter.

So if it didn't come form the people Dodd represents, where did the other 99.6% of his money come from? Let's see.
  • $610,000 was from individuals, $440,000 from PACs.
  • Eighteen states and the District of Columbia yielded more cash for Dodd than his home state, including approximately $90k from individuals in Massachusetts (maybe Barney Frank is expecting reciprocation from Connecticut donors!).
  • $299,000 came from executives and PACs representing banks, financial services companies and real estate brokerages, $48,000 from insurers and the heath care industry, and $62,800 from lobbyists (H/T Mother Jones).
  • $44,000 came from pawnshops and other companies that make high-interest loans to those with poor credit (H/T Hartford Courant).
Why is it that only out-of-staters and financial types, yet none of his constituents, want to see Chris Dodd re-elected in Connecticut? Probably because they want something from him and won't have to live in his state themselves. As you can see, huge chunks of money came from those Dodd is supposed to be regulating rather than those he is representing. And why not? It worked for the folks in the mortgage industry for years, and it worked for the AIG executives. They all got what they wanted after making sizeable donations to previous Dodd campaigns. Just a cost of doing business in the banking industry.

Additional coverage at Hot Air, FoxNews, Heath at CT Local Politics, Ironman at The Next Right, and RadioVice Online.

Sunday, April 12, 2009

Chris Dodd: When It's My Fault, Let's Not Point Fingers

Don Michak at the Journal Inquirer had a good article on Thursday (read the whole article) pointing out yet another Chris Dodd hypocrisy. Though many may not remember, in 1999 Dodd was the "unsung hero" (according to Fortune Magazine) in passing the Graham-Leach-Bliley Financial Services Modernization Act, which repealed portions of the New Deal-era Glass-Steagall law that regulated the banking industry. It is exactly this type of deregulation that has frequently been blamed for the economic crisis we find ourselves in.

So, did this legislation Dodd had such an influential role in passing lead us to where we are? Some say yes, others say no, and Chris Dodd's opinion depends on the political winds:
Dodd’s public comments about Glass-Steagall have evolved over the last few years, moving away from his initial defense of its repeal and increasingly blaming regulators for failing to do their jobs.

In 2003, when Dodd, who had yet to become chairman of the Banking Committee, was asked by the Journal Inquirer if the move was a good idea given a scandal in which top Wall Street firms were seeking to claim tax deductions for multimillion-dollar fines, the senator said he still thought it was...

Five years later, soon after Dodd took the helm of the banking panel, the senator acknowledged in another JI interview that he might have had second thoughts about brokering the repeal...

Dodd hewed to a similar line last month in his interview with Fortune.

“I regret we didn’t pay more attention to this at the time,” he said, referring to the regulatory framework. “We’re not going to go back and rewrite that. We want to be able to have those kinds of efficiencies in the system. But clearly the division between commerce and banking — that needs to be a bright line.”

Asked last week if he was saying the repeal was a mistake, Dodd ducked while admitting some regret.

“If I could have written the bill myself, I would have done it differently,” he said. “In fact, I along with almost every Democrat in the Senate opposed the bill when it went through the Senate at first. The language was changed through negotiations and compromise which improved on the original Republican bill, and we trusted that the regulators would do their jobs and make the system work.

“Unfortunately, that did not happen, which is partly why we’re in the situation we’re in today,” he added. “However, we are in a national crisis, and the time has come to put aside finger pointing. Now is the time to look ahead and develop comprehensive solutions to these problems.”
To recap: Dodd worked hard to pass this law, still supported it a few years later, it (possibly) leads to a financial collapse and all of the sudden it was a bad Republican plan on which he did all he could to water down. Then, after pointing fingers at the Republicans and regulators, he urges us not to point fingers at him because "the time has come to put aside finger pointing."

The man has no shame.

Off The Wire: Another Rought Stretch For Dodd

Another (or perhaps just the same, nearly year-long) run of not-so-hot coverage for Connecticut's senior senator this week, with a few selected articles/posts below for your review:
Also, Lagomorph at The Next Right has a summary of a recent conference call with Republican candidate Rob Simmons.

He Is Risen!


But the angel answered and said to he women, "Do not be afraid, for I know that you seek Jesus who was crucified. He is not here; for He is risen, as He said. Come, see the place where the Lord lay. And go quickly and tell His disciples that He is risen from the dead, and indeed He is going before you into Galilee; there you will see Him. Behold, I have told you." Matthew 28:5-7 NKJV

Wednesday, April 8, 2009

Off the Wire: Dodd, Joey and Jack

While Chris Dodd has managed to keep himself out of any new scandals over the past week or so, the attention he has been getting still has not been that positive. Stuart Rothenberg at RealClearPolitics thinks Dodd is the most vulnerable incumbent (thanks for link, LR) in the Senate. Helen Ubinas at the Courant, OpEdNews, Riehl World View, and Consent of the Governed have posts along the same lines. Even those on the left think Dodd may be done.

Then there is the endorsement of the only politician in the state who could rival Dodd for ill-will: Joe Lieberman. My guess is that while Dodd is glad Lieberman isn't out campaigning against him, he'd just as soon have Joe keep his support to himself. Do you think if Dodd and Lieberman combined their votes they could win an election right now?

There are rumors that Jack Orchulli may be interested in running again, as well. CT Local Politics links to video of Orchulli, as well as Sam Caligiuri on Face the State.

Friday, April 3, 2009

Has The Dump Dodd Movement Been Too Effective?

Has Sen. Chris Dodd's fall been too precipitous? Has Kevin Rennie been too competent at reporting the stories the "real" investigative reporters have missed for years? Has the grassroots movement to oust Dodd been too effective? If the goal of that movement has been to replace Dodd with a Republican, the answer may be yes.

According to Rennie at RealClearPolitics, Democrat Roger Pearson of Greenwich has indicated that he has formed an exploratory committee to consider challenging Chris Dodd for the senate in a 2010 Democratic primary.
A Democratic challenge to Senator Christopher Dodd emerged today when Greenwich, Connecticut Democrat Roger Pearson told [Rennie] he has formed a committee to explore a run for his party's 2010 nomination. The former First Selectman of the Republican bastion says that like many others he "is very disaffected" with Dodd, who has "really disappointed a lot of people."
In one sense one of Dodd's fellow Democrats taking the seat would not a bad thing, because at this point I truly believe that almost anyone is better for Connecticut (and the country) than Dodd. I don't know that much about Pearson, but if he won a local race in Greenwich, he may not be that liberal. And he isn't Dick Blumenthal, another Dem prospect for whom I have less respect than Dodd, so he has that going for him, too.

But the truth is that 2010 is the best chance for Connecticut Republicans to take a U.S. Senate seat in recent memory, and the likelihood is that it will be the best opportunity they will have for some time. Were Dodd to lose in a primary (or worse, decide not to run and give the Dem candidate a free pass to the general election while the Republican candidates duked it out in a primary) the Democrats would instantly have a better chance to retain the seat. I mean, even if their candidate were named Joe Lieberman and he was running for a second, simultaneous senate seat, he'd probably have a better chance than Dodd the way things are going.

There is a real possibility that the damage has been done to Dodd a year too soon. If the groundswell against Dodd pushes another Democrat to successfully challenge him in a primary, or forces him to suddenly "need more time with the family" and retire, the road will be much tougher for the eventual Republican challenger. It won't be impossible, but if Dodd's toxicity level remains anywhere near where it is right now, there is no one the Republicans would rather run against.

Chris Dodd is very liberal, ethically challenged, a huge contributor to the economic collapse, supportive of the most socialist of Obama's policies, afraid to tell the truth and apparently for sale to those who are willing to raise campaign funds for him. The best chance the Republicans have to take the seat is with Dodd on the other side of the ballot. Fortunately, Dodd also has an ego the size of his pompadour, and insists he is going to run. Hopefully he's not lying about that, too.

Thursday, April 2, 2009

Everybody Beats Dodd In Latest Q-Poll

The latest Q poll is out, and despite his seemingly endless repetition of the worn out "all I can do is my job" line and his protestations that he intends to run again, Chris Dodd and Democratic party leaders have some serious thinking to do.

The poll, released this morning, shows Dodd getting crushed in a match-up against Rob Simmons, 34/50, and losing to Sam Caligiuri 37/41 and to Tom Foley 35/43. Pretty incredible since 88 and 80 percent of voters don't even know enough about Caligiuri and Foley to have a favorable/unfavorable opinion. Had the pollsters asked, they probably would have found that the only Republican Dodd could beat was George W. Bush.

It will be interesting to see what part of these results is AIG-induced hysteria and fades away by the next poll, and how much is just voters realizing what they are stuck with for a senator.

Coverage of the results was everywhere and largely harsh. Here's what I got:
And from the left (I wade through the muck so you don't have to!):

Wednesday, April 1, 2009

Off The Wire: Dodd Low On Dem Support And Lower On Cash

Politico reports on the substantial dissent that is growing amongst those in the Democratic party here in Connecticut.

Bloomberg has an article on Dodd's cash shortage.

ABC talks to Rob Simmons about Dodd and the 2010 race.

And via Gateway Pundit, the collected scandals of Chris Dodd:

Tuesday, March 31, 2009

Another Felon For Dodd To Get Pardoned?

As reported by the Washington Times yesterday and covered in this post (thanks to Moe at RedState for promoting it to the front page), AIG chief exec Joseph Cassano is an FOD (Friend of Dodd). He raised some $160k in a few months for Dodd by pressuring his peers and subordinates to pony up.

Well, it looks as though he may have more trouble than just getting caught trying to buy his way into Dodd's pocket. ABC reports that the feds are "closing in" on him for fraud. Perhaps part of the payback for Cassano for Dodd's fundraising will be a Presidential pardon at the senator's request on Obama's way out, like Dodd did with felon and BFF Edward Downe when Clinton was heading home.

This Hot Air post by Ed Morrissey also raises questions about whether the AIG employees were used as strawmen to funnel cash to Dodd. At this point, I don't think anything would surprise me.

Ed also links to an NRO post describing the first time Dodd created massive, taxpayer funded windfall legislation with the primary beneficiary being AIG.
The Terrorism Risk Insurance Act privatizes profit and socializes risk. Though he voted for the Homeland Security Act, even conservative Sen. Phil Gramm (R-Texas) voted against the insurance measure, dubbing it "a windfall."

One of the big winners will be American International Group (AIG), the world's second-largest financial conglomerate and largest U.S. underwriter of commercial and industrial insurance. CEO Maurice "Hank" Greenberg was instrumental in persuading leaders of both parties to give insurance companies a handout in the event of losses ascribed to terrorism...

The federal program, which will pay out insurance company claims for losses up to $100 billion, will be triggered once the insurance industry sustains only $5 million in terror losses...
The lead sponsor of the original Senate version was Democrat Chris Dodd, who represents the insurance capital, Connecticut.
Like our new lefty leaders love to believe, a crisis is a terrible thing to waste, whether it is an economic downturn or a terrorist attack.

H/T to Karl at Patterico's Pontifications.

Caligiuri Announces Bid To Challenge Dodd

Republican state senator Sam Caligiuri announced this morning that he will run for the U.S. Senate seat currently occupied by the embattled Chris Dodd.

It will be an uphill battle for the young attorney and former acting mayor of Waterbury, whose name recognition is far below Dodd's and the other announced Republican challenger, former rep Rob Simmons. Caligiuri seems to be well-liked and well-respected, and it will be fun to watch.

Monday, March 30, 2009

You'd Be Foolish Not To Contribute To Chris Dodd's Campaign

In today's Washington Times there is a report about how a bunch of AIG Financial Services executives were "asked" by their CEO to donate to Chris Dodd's campaign, and to encourage their subordinates to do the same. Read AIG chief executive Joseph Cassano's email for yourself.

Was this more than just a suggestion? Well, the boss said he wanted copies of the checks they sent. And it seems pretty clear that the recipients of the email got the gist: in less than two months, Dodd received over $160,000 in donations from AIG employees and their spouses.

Did Chris Dodd have any part in this request? We may never know. And it's not illegal. So what's the big deal? Well, the email pretty explicitly calls for the donations with the understanding that they will have very real and practical effects in their favor:
With the Democrats having regained control of the Senate following the November elections, Senator Dodd is next in line to become chairman of the Senate Banking, Housing and Urban Affairs Committee. From securities litigation reform, class action reform, mutual funds, and international trade, Senator Dodd will now have the opportunity as chairman to set the committee's agenda on issues critical to the financial services industry.
And it just happens to turn out that Cassano was right on. On the eve of the passage of the stimulus bill, who tweaks an amendment that a few weeks later allows numerous AIG executives to collect about $160 million in bonuses that would not have been allowed without the last minute change by Chairman Chris Dodd! Not a bad return on an investment: donate $160k, 28 months later get $160 million.

Dodd doesn't deny any of it. Instead, he sends his spokesman to trots out his now-tired line of "it's old news." From FoxNews:
...[DeAngelis] said Dod's fundraising "has always been above-board, transparent and in accordance with campaign finance rules."

"This is a biased news story that seems to be a blatant attempt to repeat old news," DeAngelis told FoxNews. "The truth is, Senator Dodd has made it clear that he will not accept contributions from PAC's of companies receiveing (federal bailout) money and has also made it clear that if anyone who received these recent bonuses from AIG has donated to his campaigns, he will donate that money to charity."
As if the fact that he got paid off two years ago and that he was "transparently" bought off makes it okay. Just like when he got caught with his sweetheart Countrywide mortgages, he figures that since the unethical behavior was a long time ago and he recently got around to remortgaging, there is no story there.

Frankly, the fact that he doesn't seem to think any of his numerous scandals are newsworthy is nearly as worrisome as the scandals themselves.

Here are a few links on the story: NRO (and here and here), Everyday Republican, Hot Air, Courant's Capitol Watch,

And via "A Disgruntled Republican," you might get a chuckle out of this:
Hey, you hear about this? Very strange incident at JFK Airport in New York City today. An AIG executive going through security had to empty out all his pockets. You know what fell out? Senator Chris Dodd." - Jay Leno

Thursday, March 26, 2009

Kos Poll Shows Dodd/Simmons Still Tight

Research 2000's poll for Daily Kos shows Dodd up 45-40 on Simmons, with a 4% MOE. While a bit better for Dodd than the last Q poll, it is difficult to compare two different polls with different samples, different questions and different methodologies. In any event, these are still pretty poor numbers for a three decade incumbent. Dodd's favorable/unfavorable is +7 (13 no opinion), while Simmons' is +23 (41 no opinion).

Kos' analysis:
Dodd is the most endangered incumbent in the Senate at the moment. He has certain things going for him: he's got a famous name, formidable fundraising ability, and Connecticut is a Democratic-leaning state. On the other hand, he hasn't been battle-tested by a series of tough races, as Simmons has.

This will be the toughest race of Dodd's long career, and he'd better be up for the challenge. He's still slightly favored, but if he doesn't watch out be [sic] could end up like Elizabeth Dole.
Caligiuri appears to be a nearly-complete unknown; 82% have no fav/unfav opinion. Even so, Dodd barely breaks 50% against him, 51-30. That means there are a lot of people simply voting against Dodd, and not for his opponent, regardless of who it is. Good for the R's, not so much for Dodd.

Also, Rell retains an approval rating of over 70% and polls pretty well in hypothetical 2012 matchups against Lieberman and either Lamont or Blumenthal.

Coverage can be found at My Left Nutmeg, TPMDC, Hedgehog Report, Swing State Project (who downgraded the race to "Leans Dem"), and The Hill.

Wednesday, March 25, 2009

Evening Inspiration

Watch this video and then get to work on figuring out a way to have him traded to the U.S. Senate for Chris Dodd (or anyone else, for that matter).



I know this is not my usual subject matter, but I was inspired. And he didn't even need a teleprompter!

H/T The Corner at NRO.

Off The Wire: Kudlow, Foley, Dodd and Jackie

As noted late last night, Larry Kudlow has announced he has no intention of campaigning for Dodd's seat in 2010. While some are disappointed, I think he would have had a harder time beating Dodd than Simmons would. Now, we'll never know. Coverage at Newsbusters, the Courant's Capitol Watch, the New York Times, and Huffington Post (with video).

With Kudlow out, Connecticut Local Politics points to a Stamford Advocate article that indicates that former U.S. Ambassador to Ireland is still considering a run. He acknowledges his name recognition isn't much better than mine, but seems to think it is a hurdle that could be overcome without too much trouble. While I concede it wouldn't be insurmountable, starting that far behind Simmons, whose last district covered almost half the state, is a very substantial disadvantage in a primary. Granted, he's got sixteen months before the primary, but Simmons has a running start on him.

Speaking of Ireland, Brian Faughnan at RedState has a post on Dodd's Irish cottage:
Here's the quick-and-dirty: find a convicted felon and get him to put up two-thirds of the purchase price, then 8 years later - when the value of comparable real estate has quadrupled - buy him out at around the same amount he bought in for.

Voila! Before you know it, you own an Irish 'cottage' worth about a million dollars, but whose value you claim on ethics forms is as little as $100,000!
To be fair, Dodd bought the DC townhouse with the felon, and the Irish cottage with the felon's friend. I know, it is hard to keep them all straight...

Faughnan also chimed in on the 2010 races in the Northeast that the GOP is optimistic about, as well as Jackie's history with AIG. HuffPo covers Dodd's indignant response to the questions raised about his wife's AIG ties, but I think with all of his ethical lapses, he has lost any right he once had to get upset about anyone questioning anything about him (or his wife, if there are potential problems). As I said before, I don't think this is actually a big deal, but he has lied and stonewalled about his other problems, so you'd be an idiot to take his word for anything at this point.

Kudlow Won't Challenge Dodd

NewsBusters has a report on Larry Kudlow's announcement that he will not enter the 2010 senate race for the seat currently held by Chris Dodd.

More info at www.newsbusters.org.

Monday, March 23, 2009

Dodd's Wife Recevied Tens Of Thousands Of Dollars For Serving As Director For AIG-Controlled Company

Do you remember the "analogies" section of the SAT? A is to B as X is to Y? Well, after the lady Huskies dismantled Vermont 104-65 in Sunday's first round match-up, I think the following analogy is apropos.

Kevin Rennie : Chris Dodd :: UConn women's basketball team : University of Vermont

Rennie has been ripping the scabs off of Dodd's festering wounds for some time now, but today, writing for RealClearPolitics, he sticks the knife somewhere new, taking aim at Jackie Clegg Dodd's connections to AIG. Just as things started to die down on the bonus front, a new motivation for Chris Dodd to interfere on behalf of the AIG execs emerges. It's amazing how Rennie, in his free time, has turned up more info than the rest of the Courant reporters put together, isn't it?

Not only is Dodd the largest all-time recipient of campaign donations from the bailed-out insurance giant, but apparently his wife has received tens of thousands of dollars from an AIG-controlled company out of Bermuda, as well.
Clegg was compensated for her duties to the company, which was managed by a subsidiary of AIG. In 2003, according to a proxy statement, Clegg received $12,000 per year and an additional $1,000 for each Director's and committee meeting she attended.
Of course there is nothing blatantly illegal or unethical about this, but it certainly adds fuel to the fire already burning against Dodd for his deception about, and questionable motivations for, writing/allowing the exemption to the stimulus bill.

There is also an interesting, interactive map of interpersonal connections of Mrs. Dodd (and the Senator) at Muckety.


Sunday, March 22, 2009

Dodd Crushed By Local Media Over Weekend

I think it would be fair to say that Chris Dodd has never had a three or four day period with this much negative press from his local mainstream media. You might have to go back to John Rowland to find anyone in Connecticut who has. These jumped out at me, but I am fairly confident that this is not an exhaustive list.

From the Hartford Courant:
From the Connecticut Post:
From the New Haven Register:

From the Waterbury Republican-American:
I think each of Dodd's numerous scandals got at least a mention, from his ill-timed move to Iowa for his disaster of a Presidential capaign, to his accepting sweetheart mortgage deals from his friend at Countrywide, to the Washington condo, to the mysterious, non-appreciating Irish cottage, to Dodd's stimulus amendment that ended up giving millions to AIG execs who made Dodd their most-contributed-to politician and Dodd' subsequent lying and blame-shifting.

Not bad for a weekend!

Friday, March 20, 2009

Off The Wire: Day 3 Of Dodd And AIG

Another day of unfortunate press coverage if you are Chris Dodd. Here are a few links:
And once the AIG thing begins to fade, expect more to be made of this new information on the Countrywide scandal Dodd has never really dealt with.

RNC Vid On AIG Flap, Cameos By Gibbs, Dodd, Obama

Check out this planned Web video from the RNC on the whole AIG fiasco, via MSNBC. I can't believe Gibbs gets paid to speak in public.

Milk Dodds: Munch On These While Watching Dodd Go Down In Flames


Via RedState, a funny cartoon from TobyToons.

Thursday, March 19, 2009

Rough Day For Dodd

Chris Dodd has had a few days he'd rather forget over the last few months, but I don't know that any have been as bad as today. It cannot be comfortable when virtually everyone, on both sides, is pointing the finger at you for something as unpopular as the Dodd Amendment has quickly become.

When it comes to Dodd, I am much more bothered by the fact that he lied about his role in the whole thing than what the amendment said or who wrote it. There is no longer any reason to believe anything he says, from his claim he didn't know he was getting a VIP loan from his buddy, to his questionable real estate dealings with a convicted felon he got a pardon for, to the real story behind the drafting of the legislative in question now.

Anyway, here is some of what Dodd was reading today:

US Conservative Politics
:
As chairman of the Senate Banking Committee, Dodd's made some highly suspicious decisions. He's a walking ethics nightmare. I'm guessing that if he thought about it at all, he never imagined his behind-the-back maneuver (the one where he slipped the bonus loophole into the stimulus package) would come back to haunt him, but with all the attention being paid to these gigantic corporations, how could he not? Dodd is that rare breed of politician who is either too greedy to serve the people or too dumb to swindle them. Either way, he shouldn't be in office.
Washington Post:
It seems that there's one Democrat who really should be afraid. If you listened closely yesterday in the Capitol, it's possible you heard the sound of Chris Dodd's career coming to an end. Too harsh an assessment? Perhaps, but it's hard to overstate how badly the Connecticut senator stepped in it when he admitted that he had put language in the stimulus bill ensuring that contractual bonuses were paid out at companies receiving bailout money, a day after saying he didn't know how the language got it.
Rob Simmons in the Hartford Courant:
I can't believe the chairman of a committee can take a bill to the floor and speak in favor of it and vote on it without knowing what's in it. The issue of executive compensation is obviously an important issue...you would think someone's reading the language of the bill.
Gawker:
Dodd's apparent strategy is contrition: He apologized to Blitzer over any "confusion" he may have caused with his lie. And he also announced his intention to return all donations from AIG executives. It may work, but because of his own mendacity, this episode has strengthened a growing reputation as a well-rewarded shill for the banks and mortgage lenders that ruined the country. He was regarded as a "special customer" of Countrywide Financial by CEO Angelo Mozilo, and received a sweetheart interest rate on his home mortgage. Dodd says he was unaware that he got special treatment, but how do you know whether to believe him?
The Nation:
"We are outraged to learn that Sen. Dodd, at the behest of the Obama administration, inserted a last-minute loophole into the American Recovery and Reinvestment Act that allowed AIG employees to receive exorbitant bonuses at the American taxpayers' expense, and the vast majority of elected officials, not to mention the American public, missed the amendment because they only had 13 hours to read the bill!" the Sunlight Foundation commented today.
Associated Content:
Senator Chris Dodd revealed yesterday he was the one who removed the language preventing things like the AIG bonuses from happening, and he should resign. These are the kind of politicians we don't need representing us. Dodd heads the Senate Banking Committee, a position too important for this career politician. While I may enjoy his comments and personality, this is about principle. President Obama talked about changing the way Washington works, and what Dodd did is exactly what's wrong with Congress. To be in Washington for 34 years and to make this blunder is unforgivable. I've had it with the incompetence. Dodd will be lucky to win re-election in Connecticut in 2010.
Real Clear Politics:
Stepping back for a second, Chris Dodd is already in a bit of trouble in his reelection bid, based on recent polling. Obviously, this further complicates matters. Dodd is now directly associated with two of the most distasteful aspects of the current financial meltdown: getting a sweetheart mortgage from the CEO of a company that was a major player in the subprime mess, and now authoring the loophole that allowed AIG to pay $165 million in bonuses after already taking scores of billions of bailout dollars, all at taxpayers expense.
Even Stan Simpson and Helen Ubinas at the Courant think Dodd is done!

Not a good day.

Wednesday, March 18, 2009

Chris Dodd Needs A Credibility Bailout

Lie: noun; 1. a false statement made with deliberate intent to deceive; an intentional untruth; a falsehood. 2. something intended or serving to convey a false impression; imposture. 3. an inaccurate or false statement.
As I posted earlier, yesterday Chris Dodd claimed that he had nothing to do with the exemption in his executive compensation amendment to the stimulus bill for bonuses distributed pursuant to contracts entered into prior to February 11. From Fox Business:

Dodd’s original amendment did not include that exemption, and the Connecticut Senator denied inserting the provision.

“I can't point a finger at someone who was responsible for putting those dates in,” Dodd told FOX. “I can tell you this much, when my language left the senate, it did not include it. When it came back, it did.” [emphasis added]
After Obama decided Dodd was the next to go under the bus, Dodd decided to come clean today. From CNN (video here):

On Tuesday, Dodd denied to CNN that he had anything to do with adding the language, which has been used by officials at bailed-out insurance giant AIG to justify paying millions of dollars in bonuses to executives after receiving federal money.

He said Wednesday that the "grandfather clause" language "seemed like innocent modifications" at the time.

"I agreed reluctantly," Dodd said. "I was changing the amendment because others were insistent."

Dodd said he did not speak to high-ranking administration officials and the change came after his staff spoke with staffers from Treasury.

Yesterday he didn't know where the language mysteriously materialized from, and today he said it was his. At least one of the statements is a lie; I can think of no reasonable alternative. He didn't want to take the blame for allowing these bonuses to be paid in the face of the violent public reaction, so he said something that he knew was not true to mislead his constituents.

Lies vary in their significance and severity, but every intentional telling of an untruth chips away at the liar's credibility.

Some lies are insignificant, like telling you daughter there is a fairy that comes into her room at night and exchanges the tooth she lost in her Granny Smith apple for cash (what's the going rate for a seven year old incisor, anyway?); but when she inevitably finds you were leading her on, she will feel a sense of betrayal and somewhere in her psyche you lose some level of credibility.

Other lies are bigger, or more significant. You know it when you tell a big lie; you can feel it in your gut. Your body has certain involuntary physiological reactions, some which are obvious and others which are not. You look away, you blush, your pulse quickens, your blood pressure rises. Think Scott Peterson telling Diane Sawyer he didn't kill his wife. More significant lie, less credibility remaining afterwards.

I would also posit that the severity of a lie can be scientifically categorized as either "bad" or "not-so-bad." Telling the SS soldier at the door in Nazi Germany that there are no Jews in the house when in fact there is a family hiding in your closet would qualify as a not-so-bad lie. Telling your wife you have to work late when you are actually going to a motel to meet your girlfriend is a bad lie. The difference are largely in the motivations of the liar.

Accusing someone of lying is a serious charge. After all, lying made the all-time top ten list of bad things to do (see Exodus 20:16). In the end, when all the superficial stuff is stripped away, one's integrity is all they really have, and to accuse someone of lying is to take a shot at their integrity. It is not something I do lightly.

That being said, it certainly appears as though Chris Dodd lied. His lie is both significant and severe, and another huge chunk of Dodd's credibility has been flushed down the toilet.

The worst part is that he actually had a reasonable explanation. If he had said from the beginning that he added the language at the behest of Treasury or the Administration to save the amendment, many people would have accepted that. Instead, when placed under pressure, he lied, leaving Connecticut voters no reason to believe anything he says in the future.

I question whether Senator Dodd has enough credibility remaining to allow him to effectively serve as Connecticut's senator.