Why is Christopher Dodd Still the Chairman of the Senate Banking Committee?
And Why Are Republicans Still Known As the Party of Corruption?
By blackhedd Posted in Breaking News | Christopher Dodd | Corrupt Democrat Watch | Countrywide Financial | curruption — Comments (28) / Email this page » / Leave a comment »
You’ve seen the fine reporting done by my RedState colleagues on the Jim Johnson story (Here’s Moe’s take.)
Jim Johnson is the past CEO of Fannie Mae. You know, the government-sponsored entity that buys up a huge chunk of all the home mortgages originated in this country.
Being an accomplished business executive is a fine credential to be a member of Barack Obama’s Vice-Presidential vetting committee. But it’s a bummer that Johnson has accepted low-rate loans from Countrywide Financial that are available only to friends and associates of embattled Countrywide former CEO Angelo Mozilo, as the Wall Street Journal reported earlier this week.
Obama isn’t the kind of guy to tolerate conflicts of interest among people who work for him. Therefore, he immediately denied that Johnson actually does work for him. (Johnson was running Obama’s VP-candidate vetting process, but he wasn’t actually working for Obama. I think that means that Johnson was planning to just send Obama an email with some recommendations at the end of the process, but I can’t be sure.)
Anyway, Obama got tired of being second-guessed on this, so he
fired Johnson informed Johnson that he would no longer be not working for the Obama campaign.
Today, there’s this. It turns out that Jim Johnson wasn’t the only important guy to receive loans at rates you and I can’t touch.
There’s also Senator Christopher Dodd, Democrat of Connecticut.
Now let me tell you why you need to be mad as a plucked hen about this:
Because Senator Dodd is the Chairman of the Senate Committee on Banking, Housing and Urban Affairs. Along with Barney Frank, Dodd is the guy whose name will be on the landmark mortgage-bailout legislation now pending.
Haven’t I been telling you for months that bailing out homeowners who bought more house than they could afford will inevitably have the effect of bailing out mortgage lenders who had no business making those loans in the first place?
Why is Christopher Dodd accepting personal handouts from the mortgage-lending industry, while simultaneously pushing legislation to bail them out at the expense of everyone who plays by the rules?
Why is Christopher Dodd still running the Senate Banking Committee?
-Francis Cianfrocca (“blackhedd”)