Saturday, February 14, 2009

Sen. Chris Dodd: Financial Savior? Dodd Has A Book Deal, Claims He Saved The American Economy

Remember, Chris Dodd added a last minute banking industry executive pay cap into the CRAPulus Spending Bill this week.

According to Publisher’s Weekly, Dodd’s book titled, Thirteen Days: How the Financial Crisis Changed the Politics of Washington, "will provide an intimate look at how, over the course of 13 days last September, a financial crisis led to panic and meltdown," and "will describe how he and others acted swiftly to try to save the American economy."

Um, last time I checked, the economy was worse than it was last September.

Not to mention the hypocrisy of blaming George Bush and Henry Paulson for the "failed" TARP program. How can Dodd and liberals criticize Bush for the failure of TARP, and then take credit for its success?

Time proves the hypocrisy here:

“This is, of course, the same Chris Dodd who was Chairman of the Senate Banking Committee beginning in 2007, when the banks began their meltdown. He was the one who received the most campaign cash of any senator from Fannie Mae and Freddie Mac, two companies that he defended against increased regulation that might have actually tempered some of the disaster that has followed. He was the one who spent a huge chunk of 2007 not in the Senate, but on the campaign trail, carrying out a lackluster presidential effort funded largely by the banking and insurance industries.

According to the Center for Responsive Politics, Dodd raised $8.3 million for his presidentical [SIC] campaign; $4.3 million came from the securities and investments industry. His top contributor was Citibank. His fourth largest contributor was the now-collapsed firm, AIG, a major purveyor of the complex derivitives that helped cause the crisis. He was also the one who in 2007 went before the U.S. Chamber of Commerce to praise the "history of solid regulation" in the U.S. capital markets. "Win or lose, [people] invest with a high degree of confidence that American balance sheets are accurate, that investment products like securities and derivatives are properly valued, and that the markets are well-policed against those who would commit negligent, deceptive, or fraudulent acts," he said.

National Republican Senatorial Committee (NRSC) spokesman Brian Walsh questioned Senator Dodd’s decision today stating:

"You have to wonder who advised Senator Dodd that striking a book deal on a crisis that he was at least partially responsible for was a good idea. A more apt title would be ‘13 Weeks: The Senate Banking Committee Chairman’s Time in Iowa While the Housing Market Collapsed.’ Senator Dodd should turn his complete attention to providing the economic relief that his constituents need, and forget about lining his pockets with a tell-all book about the financial crisis that has affected the lives of millions of Americans."

To Sum Up:

Chris Dodd is writing a book on how he single-handedly saved the world. He takes credit for the exact same thing in which Liberals chastise George Bush. The success he claims is a hallucinatory vision of reality.

And Dodd will profit personally from something which screwed the rest of us.

Sure, makes perfect sense for a hypocritical Liberal idiot.

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