Thursday, October 02, 2008

'This is One of the Great Success Stories of All Time'

I wonder if the Sandwich King would like to take that one back?
Sen. Christopher Dodd (D., Conn.): I, just briefly will say, Mr. Chairman, obviously, like most of us here, this is one of the great success stories of all time. And we don't want to lose sight of that and [what] has been pointed out by all of our witnesses here, obviously, the 70% of Americans who own their own homes today, in no small measure, due because of the work that's been done here. And that shouldn't be lost in this debate and discussion. . . .
Naturally, Dodd's role in the Fannie Mae-Freddie Mac debacle is now conveniently overlooked by the media, which notes Dodd had a central role in the bailout. Gives you a safe feeling, huh?
He couldn't get far in his race for the presidential nomination, barely earning also-ran status. But Sen. Christopher J. Dodd is at the very center of what may be the most important piece of financial legislation the country has considered during his long political career.

For the moment — with the Senate's passage of a $700 billion economic bill Wednesday night — Dodd's name has risen near the prominence of his Senate colleagues reaching for the White House. And whether you call it a bailout or a rescue of the U.S. economy, the Connecticut senator's fingerprints are all over it.
So a guy whose fingerprints are all over the disaster now has his grubby hands all over the fix.


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