Tag Archives: Chris Dodd

Mar 23 2009

Obama’s economic team is in full meltdown

Paul Kanjorski, a Pennsylvania Democrat who chairs the relevant subcommittee on the House Financial Services Committee, suggested the administration isn’t being honest about its knowledge of the bonuses. He said yesterday: “I’m sick and tired of hearing the administration and the secretary of the Treasury say, ‘I just found out about it.’ That’s not true, and if he did just find out about it on Thursday or Wednesday then he better get to his mail department and to his telephone people because we communicated with the Treasury at least six or seven times.”

Chris Dodd, chairman of the Senate Banking Committee, is scrambling mightily to avoid having the entire bonus mess laid at his feet. He blamed Treasury department staffers for inserting language into the stimulus bill that protected the bonuses. Dodd warned about the consequences of further mistakes, telling CNN: “The public confidence in our ability is being adversely affected — not just mildly, but seriously.” Charles Rangel, chairman of the House Ways and Means Committee, complained that the White House isn’t offering thoughts on how to recover the bonuses.

Ron Wyden, a Democrat from Oregon, faulted the White House for sending “mixed messages.”

Mixed messages, indeed. As his economic team is full meltdown,

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What else should we expect out of a wet behind the ear inexperience president elected by the liberals?

LINKS:

(1) The David Copperfield School of Economic Recovery, Pt. II

Feb 3 2009

Sen. Dodd (DEM), Stop Waffling and Release The Documents

Release the documents Dodd

U.S. Sen. Christopher J. Dodd says he’s got nothing to hide. Yet for months he’s issued confusing and conflicting statements on whether he’ll publicly release documents relating to two loans he and his wife received from failed mortgage giant Countrywide Financial Corp.

Mr. Dodd should have released the documents months ago. Countrywide was a major player in the subprime mortgage debacle. Five years ago, it issued the loans to Mr. Dodd, then a member of the Senate banking committee, as part of the company’s VIP program, trimming the upfront costs for refinancing two of the senator’s homes and allowing the rates to “float down” as interest rates dropped.

Countrywide collapsed last year and was acquired by Bank of America. Its failure sent shock waves through the economy and raised the question of why Congress didn’t act sooner to curb subprime lending by Countrywide and others. Read More

Still ticking! It’s the Dodd Clock

Back in 2003, Sen. Dodd took part in a VIP program called “Friends of Angelo” (a reference to Countrywide CEO Angelo Mozilo) in which participants received special rates and had fees waived; Dodd reportedly saved about $75,000 on the life of two loans.

Dodd acknowledged he knew he had VIP status [5] but didn’t believe it was because he was a U.S. Senator or on the Senate committee that oversees the mortgage industry.

According to OpenSecrets.org, Dodd has collected $20,000 in campaign contributions from Countrywide since 1989.

The countdown begins with Dodd’s July 24, 2008 promise to the Hartford Courant that he would release his mortgage documents to the public. Since then, Dodd has said repeatedly that he’ll get around to it, apparently someday. Read More

Sen. Dodd releases Countrywide Financial loan documents, says he got no special deal

With pressure growing on him to act, U.S. Sen Christopher Dodd Monday morning allowed reporters to view all of the loan documents and communication he and his wife had when negotiating mortgages with Countrywide Financial Corp.

Dodd said he did not know he was one of the “Friends of Angelo,” a Countrywide program that awarded special treatment to so-called friends of company CEO Angelo Mozilo. Dodd and his wife said they were aware early on that they were in a special “VIP” program.

“We were told that it was nothing more than enhanced customer service,” Dodd said. “I regret having ever done business with Countrywide.”
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Dodd’s Peek-A-Boo Disclosure

The Senator’s modified, limited mortgage hangout.
Heck, we’d all love the kind of courtesy that would have saved Mr. Dodd $75,000 over the life of the two loans he refinanced to the tune of $800,000, according to an analysis by Portfolio magazine. The savings came from rock-bottom interest rates and a free “float-down” — the right to borrow at a lower rate if interest rates fall before you’ve closed on the loan.
We don’t know whether the documents Mr. Dodd briefly showed yesterday illuminate this mystery or not, because he didn’t release them to us, or to the public or his constituents. Read More at WSJ

The pressure got to U.S. Sen. Christopher J. Dodd and so he had to do something. Its another one of those I’m sorry but didn’t know things! Seem to be the way the democrats makes excuses these days! Do you agree with him that he didn’t do anything wrong? 

LINKS:
(1) Your tax dollars at work: Bank of America forks over $2 million to ACORN

(2) “Chris Dodd’s Mortgage Nirvana”

Feb 1 2009

UPDATED 02 FEB – Tom Daschle joined the company’s Board of Directors Mascoma Corporation, a leader in biofuels development and production!

1corn

UPDATE 02 FEB

Another Cheater On Team Change
A second Barack Obama cabinet pick who for years evaded taxes suddenly became motivated to pay them during the vetting process and the administration famously known for promoting change wants Americans to forgive and forget.

A few weeks ago it was the cheating Treasury Secretary—considered by some to be a brilliant financial markets specialist—who committed an “honest mistake” when he forgot to pay tens of thousands of dollars in taxes on his lucrative salary over several years. Timothy Geithner still got confirmed and now heads the crucial agency that promotes economic stability and ensures the nation’s financial security. Read More Here

What Joe Biden thinks about not paying taxes!
Click here to read Biden: Taxes not just a patriotic duty — but also a religious experience

Mascoma Corporation, a leader in cellulosic biomass-to-biofuels development and production, today announced former United States Senator Tom Daschle has joined the company’s Board of Directors. Senator Daschle represented South Dakota, and is the one of the longest serving Senate Leaders in history, holding the position from 1994 to 2005. He is a longtime ethanol advocate who has sponsored legislation and led Congressional measures to advance the renewable fuels industry.

“Senator Daschle brings substantial leadership, ethanol industry and public policy experience to Mascoma. He will help us think strategically about our business and bring relationships needed to develop production facilities,” said Mascoma CEO Bruce Jamerson. “I have known Tom for several years and am excited to be working together with him. He is an excellent addition to our Board of Directors.”

“Mascoma has a first class team of executives, scientists and researchers, and investors, complemented by leading technology for the operation of commercial cellulosic ethanol plants,” said Daschle. “As a U.S. Senator, I supported numerous public and private efforts to advance the corn ethanol industry in the Midwest, to the point that this is now a multi-billion dollar, domestic renewable fuels industry. I look forward to working with Mascoma, its investors, and its public and private partners to create a complementary cellulosic ethanol industry that spans the entire country, and other locations throughout the world.”
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More on subject:

Eyebrow-raising memo out of the Clintonite consulting firm the Glover Park Group
“First, we must obliterate whatever intellectual justification might still exist for corn-based ethanol among policy elites. … Second, we must demonstrate to policy makers at the state and federal level that there is a political price to allowing ethanol policy to drive up the cost of food,” Glover Park wrote. Keep Reading

It takes our tax money to keep these ethanol plants above water and some of them have already went bankrupt! Obama, tom daschle and Chris Dodd has their fingers into the middle of the corn for ethanol industry and thats why they do not want more drilling for off shore oil. People when corn prices go up then so does food prices..just think of how many of our food products have corn in them. Not only did tom daschle not pay his taxes, but some health groups paid him 220k. All this is no more than pay to play and for the politicians to line their pockets with money.

LINKS:
(1) What will the Bend Over Republicans do with tax cheat Tom Daschle?
(2) Tom Daschle’s Pay-For-Play Scandal…
(3) Daschle’s Disaster