TIME spins for Angelo’s friend Chris Dodd

Yes, the Dems control The White House and Congress.

That should mean these are “happy days” at TIME, one of many news mags that favor the Dems.

But they’re not. And that's not just because TIME's been bleeding subscriptions and ad revenue since well before the recession started.

TIME right now can’t totally ignore all the scandals involving Obama administration biggies and Congressional Dems.

Which brings us to a TIME story today about Senate Banking chair Chris Dodd’s sweetheart mortgage loans from Countrywide’s Angelo Mozilo who’s at the heart of the sub-prime scandal along with Dodd.

There’s growing citizen outrage in Connecticut directed at the dodgy Dodd, up for reelection in 2010.

And TIME is forced to report it.

But TIME spins as hard as it can for Dodd.

Here are excerpts from TIME’s story with my comments interspersed in italics.

TIME begins - -

In many respects, Senator Chris Dodd is more powerful than ever on Capitol Hill these days. After enduring eight years in the political wilderness, the Connecticut Democrat is one of his ascendant party's senior statesmen, someone who endorsed Barack Obama early on in the presidential campaign and who hails from a solidly blue state.

(Political wilderness? Good heavens! The guy’s been in the Senate since 1981, he’s a former chairman of the DNC, a mega-buck party fundraiser and since Jan. 2007 chair of the Senate Banking Committee. TIME is starting off with a pretense to hide how powerful Dodd’s really been like in 2003 and 04 when he got sweetheart mortgages from Angelo and Countrywide.)


As chairman of the Senate Banking Committee, Dodd has played a central role in shepherding much of Obama's economic agenda, from the second half of the bank bailout to the coming overhaul of regulations governing Wall Street.

(Notice TIME doesn’t say that as Banking Committee chair since 2007 Dodd gave a green light to Fannie and Fredie until their shenanigans became public knowledge and a financial crisis.) …

At the same time, Dodd is looking increasingly vulnerable. The silver-haired father of two young girls is facing his toughest re-election fight ever, and he doesn't even have an opponent yet. (CNBC pundit Larry Kudlow and former GOP Representative Rob Simmons have both expressed interest in running.)

(“The silver-haired father of two young girls . . . facing his toughest re-election fight ever.”

What a nice way for TIME to avoid saying: “The scandal-plagued Dodd, one of Clinton’s chief apologists during the Lewinsky scandals, now finds himself facing voters outraged following public disclosures of his previously secret “friends of Angelo” dealings.) …

Much of Dodd's current woes stem from a pair of mortgages that he must wish he had never gotten. His reputation has not recovered from the revelation last year that he received a sweetheart deal on his mortgage, saving upwards of $75,000 courtesy of Countrywide, one of the biggest pushers of the subprime mortgages that have landed the U.S. economy in such dire straits.

( "Current woes?" It's a currant SCANDAL!

"Must wish he had never gotten?" TIME’s giving its readers baloney. Dodd just wishes his sweetheart mortgages had never become public knowledge. There's a big difference there.)

The entire TIME story’s here and the DEM TIME's spin only gets worse as its story goes along.