Follow the (Airport) Money
Congress’ family business, Chris Dodd edition
Edmund H. Mahony and Jon Lender of the the Hartford Courant report on Sen. Christopher Dodd's wife:
Since the low-profile family wedding on a rise above the Connecticut River in 1999, Jackie M. Clegg Dodd's income has quadrupled to the mid-six-figure range. All of the increase is due to her appointment as a highly compensated member of multiple corporate boards of directors.
Clegg Dodd, a former legislative aide and senior federal Export-Import Bank officer, was compensated at a rate of about $500,000 a year in 2007 and 2008 from seats on five corporate boards, according to the ...Continue reading
Hedge fund manager hosts Dodd fundraiser
Andrew Miga of the Associated Press reports on Sen. Chris Dodd's fundraising efforts for his reelection bid, and his tendency to raise it from interests with business before his committee:
The special interest cash leaves Dodd vulnerable to charges that he's too cozy with the very people he's supposed to regulate, the same crowd many blame for the financial meltdown. It's a problem lawmakers who rely on Wall Street campaign cash face as Congress tackles a sweeping financial regulation overhaul.
One of the country's wealthiest hedge fund managers, John Paulson, recently hosted a New York ...Continue reading
Bloomberg: Dodd faces campaign cash shortage
Kristin Jensen and Jonathan D. Salant report that Sen. Christopher Dodd is facing a cash crunch as he gears up for his reelection bid:
The Democrat has less than half the campaign cash he had at a comparable point in his last re-election bid, when he faced far fewer hurdles. Last year, he emptied an account built up largely through financial-company employees' donations to pay for a presidential run; now, he has to replenish his coffers even as the firms his panel regulates struggle with losses and back away from their one-time champion turned critic....
Dodd began the year with ...Continue reading
Dodd’s family business?
Kevin Rennie notes another connection of Sen. Christopher Dodd to the financial industry, at one remove from AIG:
it turns out that Senator Dodd's wife has also benefited from past connections to AIG as well.
From 2001-2004, Jackie Clegg Dodd served as an "outside" director of IPC Holdings, Ltd., a Bermuda-based company controlled by AIG.
There are many other connections, obviously.Continue reading
Dodd controversies continue to swirl
Sen. Christopher Dodd is getting criticism from out-of-state ">papers (but note the all the Connecticut residents quoted) over the AIG bonus bungle, but the Hartford Courant ran what might be the most significant story (hat tip: Instapundit, who has a lot more on Dodd):
An executive at mortgage giant Countrywide Financial overrode the company's loan-writing policies to give a discount to Sen. Christopher Dodd, the powerful chairman of the Senate banking committee, according to an internal Countrywide document turned over to congressional investigators and obtained by The Courant.
The Courant notes that the report, some 63 pages long, is ...Continue reading
Dodd did it update
Apparently, Geithner did it too. (Previous Dodd did it post here.) As this episode illustrates, there ought to be a better way of tracking whose fingerprints--those of members of Congress, administration officials, lobbyists--are on which parts of what bills.Continue reading
Dodd did it
Senate channels “Not Me”
Maybe we should make members pass a quiz on the contents of bills before they're allowed to vote. Case in point: the bonus exemption in the Stimulus Bill that AIG executives took advantage of. Where it came from and how it got into the bill is a mystery:
In an interview with CNN, Dodd denied inserting that exemption at the 11th hour, and insisted he doesn't know how it got there.
"When I wrote the language there was no such language like that," Dodd told CNN Tuesday.
Multiple Senate Democratic leadership sources also deny knowing how the exemption ...Continue reading