Tag: Chris Dodd

Who will reel in a reckless Wall Street? Congress hopefully

Thankfully, Financial Reform appears to be back in play again. This little News Item today, indicates a “strategic pivot” is about to occur:

Obama presses for financial reform

Mar 25, 2010 – Reuters

Financial regulation reform vaulted to the top of President Barack Obama’s post-healthcare agenda on Wednesday, with both Democrats and Republicans upbeat about passing legislation soon.

After a meeting with Obama, Senate Banking Committee Chairman Christopher Dodd said the president wants results soon from Congress on proposals to tighten U.S. government oversight of banks and the capital market.


“We’re going to get a bill done,” Dodd told reporters outside the White House. He was joined by fellow Democrat Barney Frank, chairman of the House Financial Services Committee who said the issue will be Congress’ No. 1 concern after a two-week Easter break.


Pivoting from their victory this week on healthcare reform, Democrats are pushing hard for a crackdown on risky bank practices, over-the-counter derivatives, credit rating agencies and other segments of the financial sector, with the aim of preventing another crisis.


The lid comes off the Wall Street scandal?

Chris Dodd Asks Department Of Justice To Probe Lehman’s Repo 105 And Other Firms’ Shady Accounting Practices   Zero Hedge

March 19, 2010

The Honorable Eric H. Holder, Jr.

Attorney General of the United States

United States Department of Justice

950 Pennsylvania Avenue, NW

Washington, D.C.  20530

Dear Attorney General Holder:

I am deeply concerned about the facts that have come to light regarding the demise of Lehman Brothers and the accounting manipulation that contributed to it. I respectfully ask you to commission a task force to investigate the Lehman situation as well as other companies that may have engaged in similar accounting manipulation with a view to prosecution of employees or agents who contributed to any violations of the law.    

According to the Report of the U.S. Trustee-appointed Examiner Anton R. Valukas, Lehman presented a misleading picture of its financial condition to the public by using extensive repurchase agreements known as Repo 105 transactions. The Examiner found that “Lehman did not disclose its use — or the significant magnitude of its use — of Repo 105 to the Government, to the rating agencies, to its investors, or to its own Board of Directors.” The result was to conceal its holdings of bad assets and to temporarily remove approximately $50 billion of assets from its balance sheet at the end of the first and second quarters of 2008. The Examiner found that Lehman used Repo 105 transactions for no other articulated purpose than to shrink its balance sheet at the quarter-end, in a manner that deceived investors and creditors about its true financial state and misleading others.    

We must work tirelessly to reduce the incidence of financial fraud in order to restore trust and confidence in the financial markets. A task force investigation and taking appropriate Federal actions in these matters will contribute to these goals.

Sincerely Christopher J. Dodd Chairman

Chris Dodd Retiring From Senate

Via Kombiz @ Eschaton

Now with dday update below the fold.

I’ll remember Chris as the Democrat who was almost there.

Almost there on FISA.  Almost there on the Bailout.  Almost there on Health Care.  A guy who made some of the right noises but was ultimately betrayed by Qusiling Democrats like Barack Obama, Rahm Emanuel, Tim Geithner, and Larry Summers.

People will bring up Countrywide one more time, but there is no there there.  The deal he got from them was the same Bankster shafting anyone else got with a little more suck up.

VIP?  Yeah, look at the terms and you’ll see it’s like being a VIP at Blockbuster.  Just another piece of plastic to stuff in your wallet.

But there is no denying it was going to hurt.  What electioneering I’ve done over the past few months has been for him and I was twisting arms I shouldn’t have had to.

Blumenthal is Joe Lieberman II.  Seriously.

A self righteous oily prick of a pol who’d stab you in the back for a dime or a dirty dishrag if he happened to need one.  No improvement at all.

That said he is unbeatable and if you’d asked me six months ago what I wanted to happen in Nutmeg Land (which I’ll remind you got the nick because we’re happy to sell you a lump of wood and call it Nutmeg) it would have been Blumenthal v. Rell.

That would have been a tough one because she has underserved popularity too, but Dick proved 4 years ago he was too cowardly to challenge her directly.

What we have instead is Jodi retiring for reasons I don’t understand while Ned waltzes into 990 Prospect Av. and while that’s not a bad thing, it’s a waste of his talents.  Oily Dick will go to a Village that appreciates his dubious dignity and negotiable principles (none of which are progressive).  And Linda and Rob will just have to pound sand because there is a limit to how many people still think wrestling is real or that teabagging does anything but suck balls.

JTP: “Why hasn’t he been strung up?”

Crossposted at daily kos

He’s baaaaaaaaaaacccckkkk.

and dumber and more dangerous than ever.

    Americans for Prosperity, one of the wingnut welfare outfits behind the Great Teabagging, held an event in Wausau, Wisconsin yesterday, keynoted by the man who best personifies the Teabagging movement.


    Referring to Sen. Chris Dodd, D-Conn., more than once, Wurzelbacher asked, “Why hasn’t he been strung up?”


    Murder. Sam Wurzlebacher is calling for murder.

Why I’m not buying this whole “fire Geithner” thing from the GOP

Has Treasury Secretary, Timothy Geithner, done a good job so far?  Kinda, I wouldn’t give him a gold star or anything.  In fact, I’d say he’s done a mediocre job.  Did he know about the whole bonus thing at AIG?  And what about how the situation that went down with Lehman Brothers?  Bottom line, is the GOP push to have Geithner removed legit?  I say no.

Even with smoke and mirrors, it’s still FISA capitulation

According to The Hill, a new proposal from some of the more spineless members of the Congressional Democrats, have offered the Republicans a “proposal to break the logjam on electronic-surveillance legislation by allowing federal district courts to determine whether telephone companies seeking legal immunity received orders from the Bush administration to wiretap people’s phones.”

The new smoke and mirrors immunity was offered by flag-pin wearing House Majority Leader Steny Hoyer (D-MD) and supported by Sen. Jay Rockefeller (D-WV), chair of the Senate Intelligence committee. While the plan differs from the one championed by Sen. Kit Bond (R-MO), “in both cases, the courts would not decide whether those orders constitute a violation of the law, according to people familiar with the language.”

But, Sens. Chris Dodd (D-CT) and Russ Feingold (D-WI) are having none of this. In a 3-page letter (pdf) to their congressional colleagues, they write:

Obama Me With Fries!

“I want to publicly acknowledge Hillary Clinton for the outstanding race that she has run.

“She is a great senator from New York she is an extraordinary leader of the Democratic party and she has made history alongside me over the last 16 months and I’m very proud to have competed against her.”

Barack Obama on Hillary Clinton

“I know Senator Obama understands what it is at stake here. It has been an honor to contest these primaries with him. It is an honor to call him my friend.”

Hillary Clinton on Barack Obama

Hillary Clinton and Barack Obama, two of the ablest politicians in recent memory, have declared an end to hostilities. Understanding that they share the same goals, with some respectful disagreement on how to achieve these goals, they are beginning the process of coming together to form a united front against John McCain in the fall.

As passionate partisans, it is now time for us to follow their lead and start the reconciliation process among the netroots so that our country can turn abruptly away from the edge of the cliff it’s been skating along these past few years of the Bush administration, and start heading in a direction that restores our values and reunites our country.

That’s why I say: Obama Me With Fries!

Soviet America

Your U.S. Senate believes it is okay for you to be spied upon by your government, and for Bush to be able to define what that means, according to his whim. Your U.S. Senate believes that it was okay for the telecoms to break the law by allowing you to be spied upon when it was still illegal. Before today’s votes, Glenn Greenwald wrote this:

The Senate today — led by Jay Rockefeller, enabled by Harry Reid, and with the active support of at least 12 (and probably more) Democrats, in conjunction with an as-always lockstep GOP caucus — will vote to legalize warrantless spying on the telephone calls and emails of Americans, and will also provide full retroactive amnesty to lawbreaking telecoms, thus forever putting an end to any efforts to investigate and obtain a judicial ruling regarding the Bush administration’s years-long illegal spying programs aimed at Americans. The long, hard efforts by AT&T, Verizon and their all-star, bipartisan cast of lobbyists to grease the wheels of the Senate — led by former Bush 41 Attorney General William Barr and former Clinton Deputy Attorney General Jamie Gorelick — are about to pay huge dividends, as such noble efforts invariably do with our political establishment.

Dan Froomkin put it in these stark terms:

Here’s a White House ” Fact Sheet” on telecom immunity: “Companies should not be held responsible for verifying the government’s determination that requested assistance was necessary and lawful — and such an impossible requirement would hurt our ability to keep the Nation safe.”

But isn’t that the very definition of a police state: that companies should do whatever the government asks, even if they know it’s illegal?

You can read the roll call on retroactive telecom immunity here. These are the Senators who supported Chris Dodd, to prevent retroactive telecom immunity:

Akaka (D-HI), Baucus (D-MT), Biden (D-DE), Bingaman (D-NM), Boxer (D-CA), Brown (D-OH), Byrd (D-WV), Cantwell (D-WA), Cardin (D-MD), Casey (D-PA), Dodd (D-CT), Dorgan (D-ND), Durbin (D-IL), Feingold (D-WI), Harkin (D-IA), Kennedy (D-MA), Kerry (D-MA), Klobuchar (D-MN), Lautenberg (D-NJ), Leahy (D-VT), Levin (D-MI), Menendez (D-NJ), Murray (D-WA), Obama (D-IL), Reed (D-RI), Reid (D-NV), Sanders (I-VT), Schumer (D-NY), Tester (D-MT), Whitehouse (D-RI), Wyden (D-OR)

These are the Democrats who voted against it:

Bayh (D-IN), Carper (D-DE), Conrad (D-ND), Feinstein (D-CA), Inouye (D-HI), Johnson (D-SD), Kohl (D-WI), Landrieu (D-LA), Lincoln (D-AR), McCaskill (D-MO), Mikulski (D-MD), Nelson (D-FL), Nelson (D-NE), Pryor (D-AR), Rockefeller (D-WV), Salazar (D-CO), Stabenow (D-MI), Webb (D-VA)

Not a single Republican or Lieberman voted against telecom immunity!


Vote Dodd in Michigan, fight wiretaps

So what if he’s withdrawn, he’s still on the ballot, and there’s no delegates at stake anyhow.

15% for Dodd would send a message to Michigan’s Senators, Reps, and hopefully the rest of the Congressional Dems that an extension of wiretap authority is unaccesptable. It’s not just immunity, Reid’s now, according to the Wall Street Journal, going to put up an 18 month extension of the Protect America Act, extending authority for warrantless taps.

The “problem” the bill was intended to fix, a FISA Court decision requiring warrants for foreign to foreign calls transiting US soil, is no big deal. If there’s reason to believe the calls sare terrorist communications, there’s still a process for getting FISA warrants.

Pass nothing, let the stinker expire.

Majority Leader Dodd Must Be Replaced

August 3, 2008

Chris Dodd’s ascension to Senate Majority Leader after Harry Reid resigned that position in February 2008 was a time of great hope for the netroots.  His Presidential campaign was strong on the issues; while it did not catch fire with the public it brought him great esteem among the netroots.  When he defeated Joe Biden for the position by one vote, we expected great things from him.  Instead, the past six months have brough bitter disappointment.  It is time for him to resign.

Chris Dodd campaigned for President calling for an end to the occupation of Iraq and a restoration of the Constitution.  And yet, Chris Dodd has failed to prevent yet another appropriation — albeit a smaller one than requested — to keep troops in Iraq through the end of the year.  And he has been unable to prevent passage of a FISA bill that, while it does not offer immunity to telcos, also does not state unequivocally that the President was violating the law.  Finally, he called for funding for programs that would fight global warming, and none has been forthcoming.

We had the right to expect more.  Dodd didn’t deliver, and so he must go.

How can we demand courage from our leaders when we have so little?

Cross posted at KOS

How can we demand courage from our leader when we have so little?

How can we continue to support candidates who do not support us NOW?

How can we uphold the Constitution when we allow others to abrogate our most important responsibility, our vote?

How can we beg for change when we cannot face change?

How can we save the planet when we cannot save ourselves?

Follow me below the fold and I will give you my take on why who and what we are can be another recipe for a continuing disaster.

Joe Klein on the Dodd Filibuster

I thought it would be a good idea to post the entirety of Klein’s posts since Monday, at Swampland and at Time Magazine, on the Dodd filibuster maneuver and Reid’s pulling of the FISA telecom immunity bill:

Load more