Sunday, December 14, 2008

Sen. Chris Dodd should resign

Graham Crowe in a letter to Johntown, Pa’s Tribune-Democrat explains why - - -

Sen. Christopher Dodd, chairman of the Senate Committee on Banking, Housing and Urban Affairs, suggested on CBS’ “Face the Nation” that Rick Wagoner, the chief executive of GM, “has to move on.”

Where does Dodd get the temerity to make such a proposition in light of his own incompetence and scandal? Dodd is in charge of the committee that could have kept us from entering the current credit crisis. He’s the same man who is in charge of regulating Fannie Mae and Freddie Mac, and is No. 1 on their list of donations.

When Congress approved $25 billion to bail out Fannie Mae and Freddie Mac, Dodd denied rumors these firms were in financial crisis. He called the firms “fundamentally strong,” said they were “in good shape” and to “suggest they are in major trouble is not accurate.”

Dodd also received preferential loans from Countrywide Mortgage Bank, and then said he wasn’t aware that he was getting a “special” deal. How is that possible?

The bottom line is that Dodd received special treatment from a company that he was in charge of regulating and to this day he has refused to release details of those transactions. If Dodd has done no wrong, then why not release the documents and dispel the accusations?

Just when you think you’ve seen the height of hypocrisy, leave it up to a politician to take it to the next level.



Well said, Graham Crowe.

Dodd’s resignation is the best service he can render the American people.

Dems and their MSM flack keep talking about “reassuring markets.”

Dodd’s resignation would be cheered by people who want to operate sound businesses free of government “special interest” interference and by people who want to invest in such business.

And we could all hope Dodd’s resignation would set an example for Reps. Frank and Rangel and others like them.

One of the biggest problems we’re facing trying to work through this mess is many of the same people who helped create it are the ones working on “solutions.”

Hat tip: Instapundit