Chris Dodd on Corporations
Democratic Sr Senator (CT)
EDWARDS: Yeah, I was wrong. I was wrong and you were right Chris. I should not have voted for that bankruptcy bill. It was a bad, bad piece of legislation. I think any of us who voted for it were wrong to have voted for it. I think there were some good provisions in it but I think on the whole when you look it at it actually did damage to low income families and working families in this country.
In his election to Congress in 1974, Dodd represented Connecticut’s fairly conservative (and often Republican) second district, of the state’s eastern end. In 1980, he moved on to the Senate, thus expanding his constituency to include the bankers and brokers of the wealthy New York suburbs, and the insurance industry long based around Hartford.
Dodd was an original co-sponsor of 1995 legislation making it more difficult for people to sue corporations, allowing judges to decide which plaintiffs were worthy, and limiting judgments in cases where the companies could successfully claim they didn’t know they were committing fraud. His defining moment came when Bill Clinton vetoed the bill. As the Journal of Accountancy noted, “perhaps the bill’s strongest supporter in Congress, Senator Christopher J. Dodd urged both House and Senate Democrats to override Clinton’s veto, even if it amounted to a defeat of the intent of his own party’s president.”
But his close ties to the financial sector remain troubling, all the more so in view of his recent ascendancy to the chair of the powerful Senate Banking Committee, giving him oversight of the banking, financial services, and insurance industries. On the eve of the Democratic takeover of Congress (and of Dodd’s announcement of his candidacy), a government watchdog group said, “It’s a tightrope walk when you’re the chairman of a committee that regulates the industry that gives the most money to politics, in general. It has to be tempting to take a lot of money from the industry, because they want to give it so much.” Dodd, clearly, has long given in to temptation.
A: We’ve got to have a Justice Department that starts dealing with some of the antitrust issues in our country. It just doesn’t cover agriculture, but also a variety of other things, including media concentration here. The ability today of just concentrating power is making it very difficult for independents and smaller interests to be able to grow and to have the kind of economic success they’d like to have.
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Newly appointed in 2009;
special election in 2010:
Announced retirement as of 2010:
Senate races in 2010:
AK:Miller(R) vs.McAdams(D) vs.Murkowski(I)
CA:Boxer(D) vs.Fiorina(R) vs.Lightfoot(L)
FL:Rubio(R) vs.Crist(I) vs.Meek(D) vs.DeCastro(C) vs.Snitker(L)
KS:Johnston(D) vs.Moran(R) vs.Bellis(Rfm)
OH:Fisher(R) vs.Portman(D) vs.Deaton(C)
VT:Leahy(D) vs.Britton(R) vs.Freilich(I)
Senate Votes (analysis)