Chris Dodd's Personal Bailout (Mother Jones)
Interesting article in Mother Jones about Chris Dodd. Today’s NYTimes had an article on Dodd that was much less informative (at least it didn’t mention the Wall Street money flowing into Dodd’s campaign). Hat-tip to TM.
Chris Dodd’s Personal Bailout
How Big Finance is trying to keep the Senate banking chairman’s imperiled political career afloat.
As Senator Chris Dodd fights for his political career, the embattled chairman of the powerful Senate banking committee is receiving his own economic rescue package from the finance industry. According to the five-term senator’s latest campaign disclosures, filed earlier this week, the financial sector is flooding Dodd’s campaign war chest with donations in advance of what is expected to be a tough reelection bout.
Dodd, who’s had a rough year, can certainly use all the support he can get. Last summer, the news broke that he had received two sweetheart loans through subprime lender Countrywide’s “V.I.P.” program. And in March, Dodd first denied and then later admitted that he had inserted language into the economic stimulus bill that would allow AIG executives to keep their bonuses. Amid accusations that he has grown too chummy with the industries he oversees as head of the banking committee, Dodd has seen challengers to his 2010 reelection crop up on his left and his right. Recent polls show him with a popularity rating of just 33 percent in Connecticut, losing in hypothetical matchups with three different Republicans. Political handicappers consider him the most vulnerable Democratic incumbent in the Senate; the GOP is raring to pick him off.
Read the rest of the article.