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18 September 2008
Understatement of the week. 
Governments around the world pour billions in to the markets today in an effort to shore up confidence in the markets.
The Europeans kicked in 185Billion, and we kicked in 85Billion to shore up AIG.
The Bank of Japan and the US Fed announce a plan to supply 60Billion in dollars to Japan.
All over the world Governments step in with un-precedenced amounts of citizen’s wealth to shore up the global financial system.
Our man Dodd as Chairman of the Senate Banking Committee, the citizen’s ultimate watchdog on these matters has lost his effective voice on these matters. His voice has been compromised by his own problems with sweetheart mortgages that you or I could not get. A VIP deal, yes a Very Important Deal indeed.
The Dodd has been compromised, he should be at the fore front protecting us now, he should HAVE BEEN AT the fore front protecting us for the past two years.
But he can’t now and he didn’t then. He was busy putting his kids on an IOWA school bus for the photographers.
Yes, Senator Dodd this could be huge.
You can’t effectively do your job now because you didn’t over the past two years.
Step down and let someone else take the reins.
Christopher Dodd, chairman of the U.S. Senate Banking Committee, told Bloomberg Television yesterday that turmoil in the financial industry means “credit does not exist” right now.
“I was told today you have to have a FICO score of 720 to qualify for a car loan,” Dodd said. “The effects of this could be huge.”
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One Response to “Dodd: This Could Be Huge”
September 20th, 2008 at 10:11 pm
Allow me to predict — nothing will happen to him. Period.