sign in • sign up
web   discussions   tasks   blogs   photos

Senator Dodd's role in Economic Crisis  email this discussion to a friend?

myLot reputation of 73/100. bobmnu (4796)   ranked 224 out of 3,985 in politics 3 years ago

It seems that when I am researching the economic crisis I keep coming up with Senator Dodd or a connection to him. Recently he has been criticizing the bonus paid to financial people. Then it come out that he slipped a line in the bailout bill, that was rushed through congress, that allowed for the financial people to keep their bonus and the Democrats approved. Next we find out that he is the top recipient of AIG political donations. AIG needs a big time bailout. He is the ranking Democratic and or Chair of the Senate Banking Committee, which is to oversee the industry and make sure they are doing things right. Country Wide Bank fail and Bank of America has to buy them out to keep thing going. Then we find Senator Dodd received a million dollar plus mortgage from Countrywide with very generous terms. Things like no point, sub par interest rates and a notation that he is a "friend of Manny's". When questioned he did not know that he was receiving special treatment, and he is overseeing the Banking Industry and does not understand how mortgages work. Fannie and Freddie need a federal bailout, together they gave over a million dollars to congressional candidates including, you guessed it Senator Dodd.
His name keeps popping up with every failure and every bailout and every campaign contribution and sweet heard deals. To all of this he claims little or no knowledge, yet the Democrats make him Chair of the very powerful committee. We need a clean sweep in congress.

 

politics
sponsors
Mortgage Rates Hit 2.50%
White House Program Cuts Up to $1k off Monthly Payments! (3.01% APR)
www.MortgageRatesExperts.com

Second Chance Checking
Open The Second Chance Checking Account You Deserve.
psbnewton.com

online banking
Open That Second Chance Checking Account You Deserve Now!
fremontnational.com

User has not selected a best response.
tags:  aig, banking, countrywide, fannie mae, freddie mac
 
1. myLot reputation of 78/100. mscott (1752)   ranked 389 out of 3,985 in politics   3 years ago

I see he finally came out and said "they" voted for the bonuses. He still will not accept personal responsibility for screwing people but at least he is beginning to b shown for one of the major reasons behind this mess. The people in congress trying to "fix" the problem are the major reason for the problem. They keep trying to get away with stuff and then back track once it is proven they have no idea what they are doing.

Mortgage Rates Hit 2.50% White House Program Cuts Up to $1k off Monthly Payments! (3.01% APR)  www.MortgageRatesExperts.com
 
2. myLot reputation of 49/100. Destiny007 (4866)   ranked 647 out of 3,985 in politics   3 years ago

Now they are talking about taxing those bonuses that they and Dodd authorized at 90%, with the expectation that state and local taxes will eat another 35%.

So if my math skills are still accurate, that is a tax of 125% of the actual income which gives a net loss of 25%.

That's a nice scam if you can get it done.

Not only did Dodd get the most in campaign contributions, the 0bamunist was had the number 2 or 3 spot, depending on who is doing the reporting.

Either way, it is time to do a clean sweep of all of the liberal crooks in DC, from both parties, and including the 0bamunist and his cronies.

These problems are evident throughout Congress, and the more I read, the more I find that the whole damn buch should be in prison.

Second Chance Checking Open The Second Chance Checking Account You Deserve.  psbnewton.com
 
sponsors
FNM to Blow Up in 2012?
Don't trade FNM until you get our trusted free weekly trading advice!
www.TheBestNewsletters.com

Checking Account Online
Learn how easy it is to start a Checking Account online today.
openabankaccountwithbadcredit.com

Free Checking Online
Open A Checking Account Online Now! Find Free Checking Today
ridleyfinancialplanning.com

similar discussions
insurance
hi friends!!!! i want to ask you whether you will invest in insurance or not, if yes, then...
So how does everyone feel about the $100,000,000 in bonus's that AIG is paying?
That right AIG is about to pass out ioo million dollars in bonus's again. And this time it is to...
sponsors
FNM to Blow Up in 2012?
Don't trade FNM until you get our trusted free weekly trading advice!
www.TheBestNewsletters.com
Checking Account Online
Learn how easy it is to start a Checking Account online today.
openabankaccountwithbadcredit.com
return to mylot
We are loading a word from our sponsors. No thanks, cancel loading.