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Christopher DoddFrom Conservapedia
Christopher "Chris" Dodd is a liberal former United States Senator from Connecticut, and 2008 Democratic presidential primary contender. Dodd served as the powerful chair of the Senate Banking Committee; he announced he would not seek a sixth term in 2010. Dodd faced a difficult reelection because of charges of corruption and contributing factors to the nation's banking crisis. The December 2009 Rasmussen Reports poll found that Republican challenger Rob Simmons, a moderate former Congressman, had a wide lead 48% to 35%.[1] Contents[hide]
Political careerChris Dodd was born on May 27, 1944, in Willimantic, Connecticut. He was the fifth child of Senator Thomas J. Dodd. After Dodd graduated from Providence College, a Catholic school, with a B.A. in English Literature, he served in the United States Peace Corps in 1966-68. He served in the Dominican Republic were he worked carrying out humanitarian efforts for the rural community; he became fluent in Spanish. Dodd later served in the Army National Guard. Dodd earned a law degree from the University of Louisville in 1972. He was first elected to the United States Congress in 1974. He served three terms as congressmen, and in 1980, was elected to the United States Senate. In the 1980s Senator Dodd took the lead in the liberal opposition to President Ronald Reagan's anti-Communist policy in Central America. He has long opposed the nation's embargo on the Communist Cuba of Fidel Castro. In the Clinton administration era Dodd served as Chairman of the Democratic National Committee, its chief fundraiser.[2] It was at this time while serving as Chair and heading up the Senate Banking Committee, Dodd obtained special favors from Countrywide Mortgage lending,[3] the single largest subprime mortgage lending institution in the United States and which immensely contributed to the Financial crisis of 2008, the Recession of 2008, and the ongoing global financial meltdown.[4] According to an unsourced statement in Wikipedia, Countrywide financed 20% of all mortgages in the United States, at a value of about 3.5% of United States GDP. In 2004 Dodd's longtime golfing buddy, Bill Clinton tried to convince him to run for President.[5] Ethics IssuesIn 2008, allegations appeared that Dodd cut special discounts deals on his home mortgage from Countrywide subprime mortgage company. Dodd was cleared in 2009; he did not get a lower rate.[6] Dodd legally received over $14,700 from lobbyist Jack Abramoff, who in now in prison for his bribery. In 2009, Judicial Watch ranked Christopher Dodd the most corrupt politician in Washington.[7] Senate Banking CommitteeDodd's responsibility for oversight of the subprime lending abuses and crisisCongressional investigators discovered[8] during Dodd's duel tenure as chief fundraiser and Chairman of the DNC and Chairman of the Senate Banking Committee tasked with oversight of the mortgage lending industry: Countrywide reached an exclusive agreement to sell Fannie Mae billions of dollars in mortgages at a discounted rate. The agreement led to a period of codependence and mutual growth. ...Between January 1996 and June 2008, Countrywide’s VIP loan unit made hundreds of loans to current and former Members of Congress, congressional staff, high- ranking government officials... In addition to preferential treatment, Dodd received over $165,000 in contributions from the mortgage entities he oversaw.[9] Authorizes AIG's plunder of TARP for executive bonusesDodd was in charge of financial-services rules for Obama's $787 billion deficit enriching stimulus and the TARP program that bailed out the failed banks and financial institutions he oversaw. Dodd made a public comment feigning criticism for bonuses given to executives of AIG, the insurance giant, saying, "This is another outrageous example of executives -- including those whose decisions were responsible for the problems that caused AIG's collapse -- enriching themselves at the expense of taxpayers." One rule he included was an exemption for contractual obligations prior to Feb 11, 2009, which allowed the AIG bonuses. The exact rule below;
Dodd will not take responsibility for the confusion saying his original amendment did not include that exemption.[10] Dodd was AIG's largest single recipient of campaign donations during the 2008 election cycle with $103,100. Political PositionsCorruptionDodd was for it before he voted against it. AbortionThroughout Dodd's career in the senate he has constantly voted against pro-life legislation, while supporting easier restrictions on abortion. In 1996, 1997, 1999, and 2003, Dodd voted against bills which would reduce partial-birth abortion.[11] IraqIn 2002, Dodd voted to use force against Iraq. Dodd support the Feingold-Reid proposal- which sets a time table for ending the war in Iraq by March 2008. He does not support sending more troops to Iraq but does support more troops for the war in Afghanistan. EducationDodd supported President Bush's, No Child Left Behind Act in 2001, and now supports its expansion.[12] Dodd's plan for education system is to increase salaries for teachers to create more incentives. He also is calling for increase federal funding for creating lower interest rates for student loans.[13] UnionsDodd advocates the pro-union Employee Free Choice Act. Presidential contenderGoing into the race for the 2008 Democratic nomination for president, Dodd was an unknown senator. Only 22% of likely Democratic primary voters had a favorable opinion of Dodd, 20% were unfavorable. Dodd trailed third to last in the polls, with a mere 1% of Democrats for whom he was the first choice He had $7.5 million but withdrew from the race because of his poor finish in the Iowa Caucus. Though Dodd did not officially endorse any candidate. External linksReferences
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