I am not sure which is more dangerous for American consumers, Ct. Sen. Chris Dodd, desperate to get reelected, or the banking industry.
As far as I am concerned they are both equally as dangerous.
Dodd is saying anything and everything and is pandering to the public in his attempt for another six years in the most exclusive club in America.
 I have met Dodd and I personally like him. I think he is a fine man and has done many good things for our state and for our country.
But after moving his residency to Iowa in his losing battle for the presidential nomination, its been downhill for him.
Obama knows that. The main reason he is out campaigning for Dodd is if he helps Dodd get re-elected, Dodd will owe him BIG TIME.
So what is the latest with Connecticut’s silver-haired senator. He proposed this week to freeze credit card rates so issuers could not continue raising them before the CARD Act goes into effect in February.
Talk about trying to bite the hands that for years fed him.
Now Dodd knows full well that such a proposal would get voted down. He also knows that if it did get enacted, the banks would find some other way to make money and in the process hurt the very same people that Dodd claims he wants to help.
How has the credit card “reform” act worked for you so far? Not well, I suspect. It forced banks to cancel credit lines, credit cards and to immediately jack up rates.
But that is how things work in D.C. When a Congressman says he or she wants to “reform” something, odds or it will end up hurting us once the lobbyists get involved. Dodd knows that better than anyone.
He thinks you are too naive to know that. I am betting he is wrong.
Similar Posts:
- Fed Survey Shows Consumers Hurt Since Credit Card “Reform” Enacted
- Debit Fees Gone, But What Is Next
- Harmful Credit Card Practices Continue Despite Congressional “Reform”
- Debit Card “Reform” That Could Result In Debit Card Limits Debated In D.C.
- More Bank Fees Coming Thanks To Frank And Dodd
- Will Consumers Ultimately Pay for Reduction in Debit Fees?
[...] Read the original:Â Which Is Worse? A Desperate Senator (Dodd) Or Banks [...]
The sad thing about this situation is that the Republicans have done
Nothing about the credit card industry. The hoping candidates have shown their true colors by staying out of the fight, hoping they could beat Dodd by default, and not offending their pals in the financial industry.
What choice do we have?
How is that the sad thing Joe? So you wish Republicans would enter the fight and do what? Please explain.
Dodd is just out of touch, despite his rhetoric, which would suggest he cares about individual constituents. The fact is, unless you have clout you can’t see him at all.
His office explicitly said that no memebr of the public could contact or have any input to the committee he set up with Lieberman to choose federal judge picks for the second circuit.
So what do we get? Lieberman and Dodd sending their endorsement to the president of Judge Robert Chatigny, the judge that officiated at Dodd’s wedding, a friend of Dodd’s and a judge who is anti-court access, a judge who has been brutal to members of the press, is petulant and intimidating, a judge who won’t tell you who he owns his race horse with, a judge who took thousands of discounts every year on his membership with the Tumble Brook Country Club, whose board and membership is not exactly public. You can find info on who they are here and there, but this is a private club.
For Chatigny’s financial disclosures, go here: http://www.judicialwatch.org/judge/chatigny-robert-n