Chris Dodd

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Obama's Financial Regulation Plan Nearly Ready

(Newser) - The Obama administration is finalizing a legislative proposal that would strengthen the reach of financial regulatory agencies, the New York Times reports. The plan wouldn’t likely consolidate the four major bank regulators, which could meet with fierce opposition in Congress. “I don’t mind overlap as much as...

Like Father, Like Son: Dodd Fights for Future
Like Father,
Like Son: Dodd Fights for Future
INTERVIEW
May 31, 2009 4:32 PM CDT

Like Father, Like Son: Dodd Fights for Future

Conn. senator's recent troubles echo those of his disgraced dad

(Newser) - For the second time in recent memory, a Senator Dodd from Connecticut is accused of corruption and faces a rocky political future, Newsweek reports. The current senator, Chris Dodd, is a 28-year veteran and former presidential candidate, but after devising an AIG loophole and appearing to make shady housing deals,...

Banks Raised $56B Since Tests: Geithner

Stress assessments boost confidence, have helped markets heal

(Newser) - Government stress tests boosted confidence in the nation’s biggest banks and helped them raise $56 billion in needed capital, Treasury Secretary Tim Geithner told Congress today. His remarks were met by bipartisan skepticism, with members noting that smaller institutions still face severe challenges, the Wall Street Journal reports. “...

Schumer Wants Faster Action on Credit Cards

Rules on deceptive practices don't take effect until 2010

(Newser) - Sen. Chuck Schumer is putting pressure on the Fed and the Office of Thrift Supervision to enact restrictions on the business practices of credit card firms more quickly, the New York Daily News reports. The agencies have drafted new rules banning deceptive practices like hidden fees and retroactive rate hikes,...

AIG Gaffe Puts Dodd 16% Behind GOP Challenger: Poll

(Newser) - The AIG bonus scandal has battered Connecticut Democrat Chris Dodd’s Senate reelection chances, the Hartford Courant reports. A new poll shows the five-term incumbent trailing GOP challenger Rob Simmons by 16%, a deficit one analyst calls “staggering.” Overall, Dodd’s approval is at 33%. And since AIG,...

Will the Real Chris Dodd Please Stand Up?
Will the Real Chris Dodd Please Stand Up?
analysis
Mar 27, 2009 12:38 PM CDT

Will the Real Chris Dodd Please Stand Up?

Senator part populist, part bank ally

(Newser) - Chris Dodd is a man of contradictions, writes David Whitford for Fortune. The Democratic senator portrays himself as a populist; he’s passed consumer-protection and family-issues laws, and he staunchly opposed the bankruptcy bill. But he’s also received loads of cash from financial companies, including AIG, and played a...

If I Knew, I Would Have 'Rejected' Legislation: Dodd

(Newser) - Sen. Chris Dodd says that if he had known the purpose of changes to legislation he drafted for the stimulus package, he “would have flatly rejected it,” CNN reports. Dodd’s rewrite, at the behest of unnamed Treasury officials, allowed AIG and others receiving federal assistance to dole...

Dodd Weakened by Outcry Over AIG Bonuses

Confusion over Conn. senator's role adds to mounting woes

(Newser) - The financial crisis has exacted a political toll on Sen. Chris Dodd few would have seen coming. The veteran senator, elected in 1980, now trails his challenger by 1%, reports the Hill. Resentment of VIP mortgages he received was already hurting him. Dodd’s fumbled explanations of his role in...

Geithner: I Take Full Responsibility

(Newser) - Treasury chief Tim Geithner said today that he asked Chris Dodd to add a stimulus loophole allowing AIG to dole out bonuses. Geithner told CNN he felt he had no choice because the government would have been vulnerable to lawsuits if it tried to stop them. "But we also...

AIG's Money Lined Pockets in Washington

Dodd, Bush, Obama campaigns benefited from insurer's largesse

(Newser) - Chris Dodd has been a major AIG critic of late, but the Senate Banking chairman also has the uncomfortable distinction of being the politician to benefit the most from the insurer’s generosity, the Wall Street Journal reports. AIG employees have donated $280,000 to Dodd over the years, including...

Dodd: 'I Saved AIG Bonuses at White House Request'

He was follwoing White House orders, sayd Senate Banking Committee chair

(Newser) - The bonus loophole mystery has been solved. Banking Committee Chairman Sen. Chris Dodd added language to the stimulus bill that allowed the AIG bonuses to stand—at the request of the White House, he told CNN. The Connecticut Democrat said he did so reluctantly at the insistence of unnamed Obama...

White House Foists Bonus Blame on Dodd
White House Foists Bonus Blame on Dodd
OPINION
Mar 18, 2009 9:31 AM CDT

White House Foists Bonus Blame on Dodd

Guilty Obama officials seek to shift AIG fault, press plays along

(Newser) - The White House is trying to pass the AIG bonus blame to Sen. Chris Dodd, pointing to his hand in an executive-compensation clause inserted into the stimulus bill—and journalists are letting it happen, writes Glenn Greenwald in Salon. Actually, the bonuses were only possible because the Obama administration insisted...

Nine Senators Hold Key to Health Reform

Baucus leads 'Board of Directors' in tough bipartisan negotiations

(Newser) - If Barack Obama succeeds in overhauling America's health care system by the end of 2009, he'll have to thank a bipartisan group of nine senators charged with developing a bill that can muster 60 votes. The "Board of Directors"—named by Max Baucus, Obama's go-to figure for health...

Dodd Moves to Lend FDIC $500B

(Newser) - Senate Banking Chairman Chris Dodd has introduced a bill to allow the FDIC to borrow up to $500 billion from the Treasury Department, the Wall Street Journal reports. It’s the latest attempt to bolster the fund that insures consumer deposits, which has been ravaged by a string of bank...

Politicos' Loose Lips Sink Stocks

Pols still don't know their own strength on Wall St.

(Newser) - DC and New York usually keep a healthy distance. These days, though, Wall Street has no choice but to hang on every word of key politicians. For the pols themselves, Politico reports, that takes some getting used to. When Sen. Chris Dodd publicly toyed Friday with the idea of bank...

Dodd Backs Nationalizing Banks; White House Doesn't

Banking chair weighs short-term moves

(Newser) - Chris Dodd says the US may have to nationalize the most troubled banks for “a short time” to save the financial system, Bloomberg reports. The chairman of the Senate Banking Committee joined Ben Bernanke and Alan Greenspan in calling for serious consideration of nationalizing flailing institutions such as Bank...

Limits on Exec Bonuses May Backfire
Limits on Exec Bonuses May Backfire
Feb 15, 2009 11:53 AM CST

Limits on Exec Bonuses May Backfire

Stimulus cuts are too strict, will actually hurt economy, say experts

(Newser) - An 11th-hour limit on Wall Street bonuses in the stimulus bill could ultimately hurt the economy, experts say. In a surprise move, they curb not only senior executives’ pay but also traders, investment bankers, and others, the Los Angeles Times reports. “This will make it difficult to attract and...

Stimulus Slashes Bank Bonuses

Package bans cash bonuses for bailed-out firms' high earners

(Newser) - A late addition to the stimulus package puts tougher restrictions on executive pay at bailed-out financial institutions, reports the Wall Street Journal. The rules go further than the Obama administration proposed, affect more employees, and could seriously crimp the culture of gargantuan bonuses. The big one: Bonuses can't exceed one-third...

Calls Build for GM's Wagoner to 'Move On'

Dodd, Obama hint a change at the top is in order to get bailout

(Newser) - Sen. Chris Dodd wants General Motors CEO Rick Wagoner “to move on” and a new management team in place if a government bailout is going to move forward, reports the Wall Street Journal. While not making it an outright condition for a rescue package, the Connecticut Democrat told CBS’...

Obama: Dark Days Ahead, but Cultural Focus Will Re-Emerge
Obama: Dark Days Ahead, but Cultural Focus Will Re-Emerge
Talk Show Roundup
Dec 7, 2008 11:07 AM CST

Obama: Dark Days Ahead, but Cultural Focus Will Re-Emerge

Condi makes rounds; UAW pleads for bailout

(Newser) - Barack Obama stressed that the economy will see darker times before things turn around, but promised in a Meet the Press interview that his White House will bring back a focus on culture and science. The president-elect also vowed to kick his smoking habit for good. Elsewhere on the talk...

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