Dodd's political stock tumbles in Connecticut

[yurbud]

Source: Associated Press

Some of the worst blows came amid the furor over $165 million in bonuses American International Group Inc. paid some of its employees while receiving billions of dollars in federal bailout money. After first denying it, Dodd admitted he agreed to a request by Treasury Department officials to dilute an executive bonus restriction in the big economic stimulus bill that Congress passed last month. The change to Dodd's amendment allowed AIG to hand out the bonuses and sparked a blame game between Dodd and Treasury Secretary Timothy Geithner.

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Republicans are also turning a spotlight on Dodd's longtime friendship with Edward Downe Jr., a former director of the Bear Stearns investment firm who was snared in an insider trading scandal. Dodd owned a condo with Downe in a fashionable Washington neighborhood but bought out Downe's share in 1990 after learning Downe was under investigation. Downe eventually pleaded guilty to trading inside information.

During the final days of the Clinton administration, Dodd wrote a letter supporting a pardon for Downe. "Mr. President, Ed Downe is a good person, who is truly sorry for the hurt he caused others," Dodd wrote. The pardon was granted.

Read more: http://news.yahoo.com/s/ap/20090320/ap_on_go_co/dodd_on_thin_ice

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After the epic failure of the GOP, no Democrat should be in danger, but this story shows that the DLC program of trying to be corporate America's OTHER water boy could blow up in the Democrats faces.

If Dodd had acted consistently as a progressive, there would be no grounds for the GOP to come after him. Instead, he listened to Geithner and carried water for some frat boy filth who wanted a pardon.

Dodd may not be a DLCer, but acting consistently with their values has made him a target of the GOP when he should be unassailable.

It is time to take out the corporatist trash.