Chris Dodd is the embodiment of what is wrong with American politics.
The incestuous relationship between Wall Street and Washington took time and willing participants. Career politicians willing to sell their soul at the expense of the American taxpayer are critical for this incest to truly develop. Enter Chris Dodd.
Who was one of Freddie and Fannie’s big money recipients? Chris Dodd.
Who received a sweetheart mortgage deal from Countrywide’s Angelo Mozilo? Chris Dodd.
Who received huge campaign dough from the Wall Street mob? Chris Dodd.
Now that Dodd’s flow of money from his incestuous partners at Freddie, Fannie, and other large financial outlets has stopped, he knows the gig is up. As the residents of Connecticut were preparing to fire him, he now pulls the classic, “You can’t fire me because I just quit.” No surprise. Quitters never win.
America may have been forced to bail out Wall Street, but they certainly have no interest in bailing out Chris Dodd.
Dodd will stand in front of the microphone, shed a tear or two, talk about his lifelong efforts of working for the people of Connecticut and America. He will have his fellow career politicians and partners in incest sing his praises. America will collectively vomit.
There is no doubt Dodd realizes he has no chance to win re-election. Rather than face the music and pressure to provide real truth and transparency on a host of issues, Dodd puts his tail between his legs and pretends he is a statesman.
If Dodd were a real statesman, he would use his bully pulpit to truly expose the deep incest that permeated the Wall Street-Washington corridor for so long. He can start by calling Mary Schapiro on the carpet and ask her what really happened at FINRA. He can follow that up by getting Franklin Raines and Leland Brendsel back on the carpet to expose the corruption that occurred at Freddie and Fannie. America is stuck paying the bills for the failings of the SEC, FINRA, Freddie and Fannie. No single politician was more front and center of these failings than Chris Dodd.
Will Chris Dodd truly find religion and serve America’s interest in these his final days? Will hell freeze over?
Politicians from both sides of the aisle need to appreciate that this calling was never intended to generate personal wealth at taxpayers’ expense. Career politicians like Chris Dodd are the poster boys for America to demand term limits and real campaign finance reform.
The Republican crowd is no better.
If Chris Dodd truly wants to grab some bit of saving grace, perhaps he can convince Barney “I want to roll the dice” Frank to join him on the train out of town.