By David DeGraw of Amped StatusPreface by Washington’s Blog: This is the first guest post we have run. We are running it for 2 reasons.First, it is a very good piece.Second, we are busy, and hope to write a little less and post a little more by other…
Posts Tagged ‘Chris Dodd’
Can the Financial Reform Bill Fix the Economy?
July 17th, 2010 |
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Preface: If you’ve been too busy to pay attention to the details, and if you’re hoping that the financial reform bill which has just been passed will fix the economy, this essay will bring you up to date. Congress, Federal Reserve chairman Ben Bernan…
Almost there
May 21st, 2010 |
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The Senate votes for financial reform, but some important issues remain unresolved
FINANCIAL reform is coming to America. On May 20th, after more than three weeks of often rancorous debate, the Senate approved the biggest overhaul of the financial system since the Great Depression, by 59 votes to 39. Its bill must now be reconciled with one passed by the House of Representatives in December. The result will be Barack Obama’s second big legislative victory of the year, after the passage of health-care reform in March.
Tim Geithner, Mr Obama’s treasury secretary, praised Chris Dodd and Harry Reid, the Democratic senators who steered the 1,500-page Restoring American Financial Stability Act to a successful vote, for their “tremendous leadership”. The administration has reason to be pleased, since the bill largely mirrors the reform blueprint it had been pushing. …
Fed Audit Deal Reached In Senate
May 6th, 2010 |
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A deal was struck in the Senate today regarding an audit of the Federal Reserve. Senator Dodd worked out a compromise with Senator Sanders, and Dodd will now become a co-sponsor of the bill.The White House has also apparently signed off on the legisl…
5 Reasons We Must Break Up the Giant Banks
April 30th, 2010 |
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As everyone from Paul Krugman to Simon Johnson has noted, the banks are so big and politically powerful that they have bought the politicians and captured the regulators.But the giant banks are not only dangerous because they skew the political system….
Too big to fail
April 27th, 2010 |
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A setback for Chris Dodd and other Democrats in America’s Senate is only that
“HERE we are 17 months after someone broke into our house, in effect, and robbed us, and we still haven’t even changed the locks on the doors,” says Chris Dodd (pictured above), the architect of the Senate’s financial reform bill. For the time being, it appears that the Senate will delay hiring a locksmith. On April 26th senators voted against debating the financial reform bill, with Republicans opposing debate until revisions are made. This is disappointing for Democrats, who were hoping to pass financial reform before moving on to other issues, such as immigration and energy.
Financial reform may be delayed for now, but the bill is sure to pass in some form. Republican hostility to financial reform is waning. Voters generally support action to curb what they see as Wall Street’s excessive risk-taking. Richard Shelby, the highest-ranking Republican member on the Senate’s Banking Committee, says Republicans are trying to “tighten language” and improve “two or three things” in the bill, which hardly sounds like a man clearing his throat for a filibuster …
Has Obama Even READ The Financial Reform Bill?
April 26th, 2010 |
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President Obama said today:The reform that both parties have been working on for a year would prevent a crisis like this from happening again …Is that true?Well, the chief sponsor of the bill Obama supports – Chris Dodd – said:This legislation will n…
Synthetic, derivative
April 20th, 2010 |
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Democrats and Republicans in America’s Senate are playing chicken over reforming finance
THE Democrats’ first big domestic reform, of health care, was criticised as unnecessary, distracting and partisan. Not so the latest big piece of reform, the Senate’s bill on financial services. No one, Republican or Democrat, thinks the financial system should be left alone. In an era of general grumpiness with a hyperactive federal government, a Pew poll shows that 61% of Americans nonetheless want stricter restrictions on financial firms. A lawsuit brought against Goldman Sachs by the Securities and Exchange Commission has boosted expectations that a reform bill will pass. A slew of big financial firms have just announced stellar results, including Citigroup (which announced a $4.4 billion first-quarter profit this week) and Goldman (which announced a $3.46 billion profit), turning the heat up further. President Barack Obama will make a speech in New York on Thursday outlining his case for reform.
But as Democrats bring their bill, crafted by Chris Dodd of Connecticut, to the Senate floor, their hopes for bipartisan support are dim. Mr Dodd’s bill passed the banking committee last month without a single Republican vote. Since then, the Republican leadership in the Senate has persuaded all of its 41 members to sign a letter criticising what they regard as the Democrats’ partisan approach to the bill thus far. If they hold fast, the Democrats are one vote shy of breaking a filibuster. …
Everything You Need to Know About Dodd’s Financial Reform Bill: “This Legislation Will Not Stop the Next Crisis from Coming”
March 15th, 2010 |
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Instead of going into a lengthy analysis about the pros and cons of Chris Dodd’s financial reform bill, I’ll let the Senator speak for himself:This legislation will not stop the next crisis from coming. No legislation can…What Dodd is really saying i…
Down and out
February 16th, 2010 |
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Another blow to the Democrats after Evan Bayh announces that he will leave the Senate
“I DO not love Congress,” Evan Bayh declared on Monday February 15th. “I will not, therefore, be a candidate for re-election to the United States Senate this November.” Mr Bayh, Indiana’s two-term Democratic senator, warned against reading too much into his decision. But over-interpretation is what Washington does best. The chattering classes erupted. Mr Bayh was nervous about his re-election. He never even liked the Senate. He wants to foil Democrats’ chances in Congress. In his announcement he said “I’m an executive at heart”, so he must want to be president.
Perhaps, in time, one theory will trump others. For now, however, the only clear outcome is that Democrats’ problems have got worse. Mr Bayh is the third Democratic senator this year to quit Congress—Chris Dodd of Connecticut and Byron Dorgan of North Dakota declared last month that they would retire. Harry Reid, the Senate majority leader, learned of Mr Bayh’s decision from news reports. Joe Wilson, a Republican wont to shout insults in joint sessions of Congress, summed up the Republican response in a tweet: “good prospects of change in Indiana has [sic] now become much brighter!” …
New Bill Would Revoke Telco Immunity
September 29th, 2009 |
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Sen. Chris Dodd leads a charge to repeal 2008 legislation that granted immunity to telephone companies that allegedly assisted in domestic spying by U.S. intelligence agencies. The Retroactive Immunity Repeal Act joins the JUSTICE Act introduced by Sen. Russ Feingold.
– Four U.S.
senators led by Connecticut Democrat Chris Dodd plan to introduce the Retroactive
Immunity Repeal Act, which would repeal the law that
Congress passed in July 2008 granting immunity to telephone companies that
allegedly assisted in domestic spying by U.S.
intelligence agencies. The bi…
NRSC To Lobbyists: We Love You More Than Dodd Does
July 16th, 2009 |
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Following up on a Politico report on how Sen. Chris Dodd (D-CT) bashing lobbyists as part of his latest email fundraising pitch, the National Republican Senatorial Campaign Committee (NRSC) sent out an alert to lobbyist donors today assuring t…
Obama applauds health ‘milestone’
July 15th, 2009 |
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The US Senate health committee has approved a bill to reform America’s healthcare system, becoming the first congressional committee to pass a plan.
The legislation would expand coverage to nearly all Americans, at a cost of some $600bn (£365bn).
US President Barack Obama, who is to speak on healthcare later on Wednesday, has said he wants Congress to pass a healthcare bill by the end of 2009.
Four other congressional committees are also working on reform bills.
Party line vote
Three House of Representatives committees announced a joint proposal on Tuesday, and will begin voting on it on Thursday.
The Senate Finance Committee is also expected to vote on its bill soon.
Eventually, a combined bill will be put before both chambers for approval.
The Senate health committee voted along party lines, with 13 Democrats in favour and 10 Republicans opposed.
The bill would expand healthcare by requiring all Americans to take out health insurance, and providing subsidies to poorer families to help them pay for their coverage.
The chairman of the committee, Senator Edward Kennedy, was not present for the vote, because he is being treated for brain cancer.
Democrat Chris Dodd is acting as committee chairman in his absence.
"This time we’ve produced legislation that by and large I think the American people want," he said.
President Obama also welcomed the vote and urged other congressional committees to complete their bills.
"[This] should give us hope, but it should not give us pause. It should instead provide the urgency for the House and Senate to finish their critical work on health reform before the August recess." </p
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
Laurence Leamer: A Tale of Two Houses: Congress Debates the Peace Corps
July 11th, 2009 |
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Often debates in the House of Representatives are little more than ideological diatribes before a largely empty assembly. Thursday, the House was galvanized by a…