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Does Christopher Dodd have some "splaining" to do on Freddie & Fannie?

I Think Chris Dodd has Some ‘Splaining To Do By Jimmie on Sep 19, 2008 in Our New Democratic Overlords, The Economy and Your Money Toward the end of this very good New York Times article on Senators reaction to finding out just how close we came to complete financial meltdown, there’s a quote from Senate Banking Committee Chairman Chris Dodd that I swear made my jaw drop. “We have got to deal with the foreclosure issue,” Mr. Dodd said. “You have got to stop that hemorrhaging..If you don’t, the problem doesn’t go away. Ben Bernanke has said it over and over again. Hank Paulson recognizes it. This problem began with bad lending practices. Those are his words, not mine, and so this plan must address that or I’ll be back here in front of a bank of microphones at some point explaining the next failure.” Well, heck, Senator, why wait? Why not step in front of the microphones right now and explain the current failure? You can start with telling us about the more than $160,000 dollars in lobbying money you took from Fannie Mae and Freddie Mac. Then you can explain where you were in 2003 when your committee was scuttling a bill that would have stopped the worst of this mess. After that, maybe you could give us a rundown on the $775,000 in sweetheart loans you got from Countrywide Financial - a company that benefited greatly from the bad loans FNMA and FHLMC was issuing. You could start that bit of your explanation by telling us what being a “Friend of Angelo” really meant. Then you could finish by telling us about the over $70,000 in political contributions you’ve gotten from Bank of America - the company that swooped in and bought Countrywide Financial for pennies on the dollar. Maybe if he spent an hour doing that, he wouldn’t have to worry about explaining any future failure, because he wouldn’t be a Senator anymore. That won’t happen, though. Chris Dodd is a heck of a lot more concerned with losing his job than he is about being honest or representing the taxpayers of America responsibly. sundriesshack.com/2008/.../i-think-chris-dodd-has-some-splaining-to-do

Public Comments

1. Barack Hussein Obama put Barack Hussein Obama First and announced he would continue his campaign because it was more important than the country. The President of the United States had to tell Barack Hussein Obama to come to Washington and do his job as Senator during a national crisis. Barack Hussein Obama did not have a clue what he as a Senator was suppose to do let a lone what the President of the United States is supposed to do, he was clue less.
2. he should go to jail along with barney frank and a ton of folks on wall street. possibly even bernanki and greenspan as well.
3. Yes, Chris Dodd, does have some explaining to do. I would say a lot more than what he has said so far. It is time for Republicans, and Democrats to come together, including the Lame Duck President Bush. This needs to be at the very least worked on now, and not wait until the Next President. Both Parties, are equally to blame. Now, lets work together on a solution.
4. Dodd, Frank, Franklin Raines, Jamie Gorelick, and Jim Johnson should go to prison for this mess.
5. To quote the great Al Gore. This is an "Inconvenient Truth". Jim Johnson, Franklin Raines and Jamie Gorelick cooked the books and ripped off investors to the tune of 100 million total. This was allowed bt Chris Dodd and Barney Frank. Enron pales in comparison to what happened at Fannie Mae and Freddie Mac On top of that Barack Obama has received $126,000.00 in campaign contribution from them over his tenure.