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Chris Dodd Joins Barney Frank In Requesting List Of Banks The Fed Has Lent To
In a May interview with Jane Hamsher and Marcy Wheeler of Firedoglake, The Chairman of the Senate Committee on Banking, Housing and Urban Affairs, Chris Dodd notes that information about who the bank recipients of Fed loans is "concerning", and that he would make such a request of the Federal Reserve. "I'll ask" is his summation of the questioning about why nobody besides the Fed is allowed to know where taxpayer capital goes to.
We, in turn, ask Chris Dodd to provide to not only his voters, but to the public in general any and all disclosure he has obtained from the Fed, due to Chairman's Dodd position as a public figure supervising numerous financial affairs, and we hope that his curiosity translates into support for any and all Fed audit initiatives, most specifically HR 1207 and S 604.
Hopefully, in the meantime the Chariman of the Banking Committee will
learn the difference between AIG's counterparties and banks that have
daily access to the Fed's discount window as well as other Maiden Lane,
taxpayer funded conduits.
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Frank and Dodd looking to scrub clean from the mortgage mess they helped corrupt.
Friggin a$$clowns.
"MARK IT ZERO, DUDE"
Is that why Frank was pressing Freddie and Fannie to loosen up standards from what was 105% to what is now 125% loan to value. In addition, he told them to lower the credit scores of applicants. This one thing, which we don't even know if it will get passed does not make up for his role in the crisis. The man should be in jail for treason. Treason in this case would be selling out the future of the country by helping to create the bubble and saddling government sponsored institutions now with loans that have negative equity.
Dodd ain't scrubbing shit.
Notice that the video was from May 2008. I wish we had a time machine so we could see if anything has changed 15 months after this interview took place.
Welcome to the future, friends- Nothing has changed.
yup they both suck
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions
Hey ass-fuck, troll some idiot site, no ZHer is going to some spam site.
is this his hedge against the numerous ethics complaints against this scumbag regarding those funny loans?
Dodd will be out of Connecticut if he doesn't change his image. The Countrywide VIP list as well as AIG bonus clause has killed him. Too cozy with Wall Street. This is just posturing designed to save his re-election efforts.
CT is in the US? I swear I landed on a different planet. Dodd being elected senator is a reflection of a lot of so-called highly educated people not having a damn ounce of common sense. That big "I" stamped on their foreheads is not for "I" in "Ivy League" but is "I" for idiot.
Idiot Drivers
Idiotic Conversations
Idiotic Cost of Living
Idiots who think Killington skiing beats anything out West.
Idiots who would pay to ski in the East (Ok, I will if I have to once or twice.)
Did I say Idiot Drivers?
everytime i see a car with CT plates on the streets of NYC,
i veer as far away as quickly as possible.
they drive like CDudd does his job:
eyes on their watch
foot to the metal
hands in their pants
mouth on the exhaust pipe
As everyone knows, the Fed answers to Congress, not the other way around...
Frank, Dodd et. al. will do everything in their power to dilute, dismember, distract and debase HR1207 / S604 from its original purpose into a pale shadow of its original self.
At the appropriate moment, they will turn on the propaganda machine and explain (in The Big Lie format) to the American people how they have enhanced and toughened up the bill. Meanwhile Benny will be going through confirmation hearings and will reluctantly offer up the sleeves off his vest to appease Dodd as the public applauds.
Just wait for the usual suspects, taking their cues from Summers and Geithner to write their OP-EDs in a manner that will change the nature of the debate to divert focus from its original purpose. In the end,those in the middle will acquiesce and even some of HR1207's staunchest supporters will concede that something is better than nothing.
Think FASB, think Timmy, think about the SOBs (including, Dodd, Frank, Summers etc.) that brought us to this point (for that matter think Chappaquiddick) - it's all but forgotten. HR1207 in its current form will meet a similar fate.
Frank and Dodd need to be in jail, period.
Dodd says, " I wouldn't want Congress contolling the Fed"...and what that really means is, 'there is no way that Congress can control the private Federal Reserve Corporation, since they pay for all of us to be elected, it is our obligation to pass laws that they want us to pass, to make sure they can do their illegal work under the guise of "legal'....but of course, we he can't tell anyone that can he, that would be truth telling.
you can count on one thing for sure, if Frank and Dodd (Bonnie and Clyde) are backing HR 1207 and S604, it is only to figure out a sneaky was to slip that bill into some other bill that will null and void it's power.
Dodd is the big fat liar that is accountable for lying to our country about TARP since he and Paulson knew all along that it would be to GIVE THE MONEY TO THE SCAROSANCT Fed members, not to buy troubled assets--when will these people be in jail where they belong.
AND, don't forget folks, NO ONE wanted TARP to pass except the privately held Federal Reserve and their agents (most of our elected officials) and when laws pass that the people DO NOT WANT, CLEARLY THIS WAS AN OBVIOUS SIGN THAT WE CAN NOW BE CLEAR THAT WE HAVE A BANANA REPUBLIC RUN BY THE PRIVATELY HELD FEDERAL RESERVE AND ALL THEIR AGENTS...ALL LAWS ARE RUN MY THIS GRAND PUPPETMASTER SINCE THEY BUY ALL ELECTED OFFICIALS (EXCEPT FOR MAYBE A HANDFUL).
However, free markets do not work this way. Their collusion at their highest ranks to secure the financial stability of the largest financial institutions could be at odds with the investments of smaller institutions and may be at odds with the small investor’s long term investments and goals. When LTCM failed many of us could have not cared less if you were not a shareholder of one on the banks that bailed them out. The bailout was simply put in place to save their own skins and the investors they serve.
In short, “Moral hazard” has led to moral decay at the highest ranks of our financial institutions.
http://www.mmnews.de/index.php/200908313669/Gold-Silber/Gold-Manipulatio...
Something very interesting is happening when an activist progressive group like www.firedoglake.com is asking the same questions that the www.zerohedge.com right-of-center echochamber is asking, and both are advocating the same issues/stance on the Federal Reserve Bank.
Both sides may have more in common that either side would like to admit. Can't we all just get along?
Can you stop trolling and misrepresenting?
"Progressive" and "right of center echo chamber"? What we need is less nonsenical political ad hominems and more understanding of economics.
It may be a shock but because the MSM tries to convinve us of it everyday (go social sciences too) but economics and poltics are not the same thing.
I would never classify anything on zero hedge as "right", "left", "center", "democrat", "republican", "liberal", or "conservative". If you really read this website, you'd know that. You'd also know, we only have one politcal party ruling our oligarchy, not "republic" anymore.
The progressives, libertarians, and fiscal conservatives have been working together in fighting against bank bailouts, and for Fed disclosure. That's why you got people from accross the political spectrume like Ron Paul, Jim Demint, Russ Feingold and Bernie Sanders working for S 604 and HR 1207.
I haven't seen them line up on financial reform though. Under Spencer Bachus the house republicans are anti-bailout, but not so much into tight regulation. Hopefully, they can work together on that as well. If they don't work together, nothing will get done.
Mutual funds, who have been holding ETF's all month long, need to appear as if they actually do some work to earn their fees.
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions
Dodd is leaving the Banking Committee for the Senate Health (HELP) Committee chairmanship. So he will be a non- player soon.
Barney Frank is out surfing until next week
The only time any Senator does anything is... if they are one of the one third that are up for reelection and the percentage of those one third that are in trouble of not getting reelected. Thank you Peter Schiff.
Hence, Tangelo Mozilo's special pal, on the take Chris "Three Mortgage Monte" Dodd the other douche-bag Senator from Connecticut... not to be confused with Joe "Super Douche" Lieberman, is attempting to do something that "looks" populace.
Dodd practically holds up cue cards at committee hearings telling banksters how much in campaign bribes will buy action... or inaction.
Dodd, another one of those useless, silver spoon, "career" Senators. You know, son of a Senator. Remember it was Dodd's old man who blamed the My Lai massacre on soldiers "on dope."
The Senate is the biggest collection of senile, useless old white men on the planet... speech over.
You nailed it.
Props to that interviewer. Pit bull.
ive had a mad crush on jane hamscher ever since natural born killers (she produced it).
Great, now all we need is to have Mozillo chime in and it will be a three ring circus.
did someone say zerohedge is right of CENTER?! WTF, this place is borderline fascist.
Isn't it great using words, who cares if we know not what they mean! Fascism is such a cool word.
FYI
1 often capitalized : a political philosophy, movement, or regime (as that of the Fascisti) that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition
2 : a tendency toward or actual exercise of strong autocratic or dictatorial control <early instances of army fascism and brutality — J. W. Aldridge>
fascism is a very cool word.
if you see the italian derivation above, you can also figure out it original meaning:
a state, nation or country ruled by the marriage of government and corporate interests to the detriment of its citizen consumers.
Please go back to your PS2, the adults are trying to have a discussion here.
dude, no blood 4 oil.
hat tip: green day
why don't you first at least have take the time to register before being a bloody bastard.
"lent to" = made whole
find out the GSE discout if any is being swapped for good ol'e
treasrys
The man should be in jail for treason. Treason in this case would be selling out the future of the country by helping to create the bubble.
good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions
Kwis Dodd and Barney Fwank, ooh yeah baybee, feel the power, feel the outrage, feel the righteous indignation on behalf of the people. Now we're getting somewhere! [/sarcasm]
Barney & Chris aka Bonnie & Clyde
If the big fat middle is left of center, then, yes, firedoglake is left of center.
And I agree that applying right of center to Zero Hedge is meaningless. Try radical middle.
Have you ever been to New Bedford? It is a special type of Portuguese macho. If Barney Frank represents that place he has to be doing something right. Most of the readers of this blog wouldn't last a quarter of hour there, looking at you agrotera.
If Massachusetts culd take its tax dollars back, the rest of the nation would starve.
I do agree about the two Reagan Democrat senators, well, one is the special representative from Likud, that CN offers up.
I mean no disrespect to the people who, or the State that elected Barney Frank, i just hope they will boot him out of office once and for all.
It just isn't so, that just because someone got elected, that they are doing something right, but, i do agree, that most human beings aren't 100% evil, so i am sure somewhere along the way, he must have done something right as you say.
We would not have these problems with senators if we would stop electing them.
We are 50% responsible for the insanity.
You mean if I had just voted for the guy from the other party Congress would not be corrupt?
You are so quaintly naive waterdog.
They are already bought and paid for BEFORE you get a chance to vote for ANY of them waterdog. That's the way our "democracy" works. Who do you think underwrote them to the point where you get to vote for them? Voters?
I think we need to start asking ourselves the difficult question of whether we still have free elections in this country. In my state, the Secretary of State fought very hard to get paper trails from electronic voting machines, but lost the fight.
The question is, why was this even a fight to begin with? I know no one wants to think it, but could the non-responsiveness of our elected officials be caused by rigged elections? We need to at least consider this possibility.
Senator Dodd is looking all over his oceanfront (Lobbyist-paid-for) Irish "cottage" for those Fed disclosures.
Dodd's trying to not pee his pants from the look of it.
Why do I have this feeling that this Dodd post will be referred to in a future ZH Post? As well as Franks...
This movie was banned by Sundace Twice!
One of my best movies: Gangsta Government!!!
http://www.youtube.com/watch_popup?v=thR-lVuztIY
This is the hijacking of good legislation to make everyone think they think its great legislation so they can control how it's implemented. Old political trick. Nothing new. I'll believe a complete & public audit of the fed when I see it. These two guys are nothing but extra foxes in the hen house. Scum bags.
Dodd is a finance whore. He is just playing the populist card like Pelosi who asked to head a Pecora investigation on the finance system(but,of course, was just lying and paying lip service.) It buys the system enough time to game the system for another 6 months or a year and recapitalize. Remember folks-this is not about fairness,honesty,saving the US taxpayer and truth, justice and the American Way. It's only about saving the insolvent banking system for another generation or 2. The longterm trend is ruin, but the banking system still can game Dodd,Frank,the Fed and whoever is in office long enough to cash in nicely.
So, Nancy, WHERE IS the pecora investigation you said you wanted to oversee?
Exactly... Kudos funny looking little cat...
The problem with the political system is that it takes so much money to be elected that its impossible to get elected unless you're a sellout to the rich. If you don't sellout you don't get enough money to win.
And that is a perfect system for those in society who have most of the money. They get to have sham elections between candidates that are all bought and paid for and need to constantly kiss the rich's ass as their next election is just a couple of years away.
Democracy has proven to be an excellent system for controlling the people on the cheap without the necessity of the expense of an actual police state. And they can mollify the majority of the people with welfare state programs paid for by the taxes of the middle classes as the rich and corporations can avoid taxes, or paid for by debt that the people then have to pay interest on that debt to the rich to pay for their own subjugation.
"When buying and selling are controlled by politicians, the first things to be bought and sold are politicians."
Chris DODD is the epitome of the word USELESS!!!
He is so bought and paid for, talks out of both sides of his mouth, while he pads the pockets of himself and his banking cronies. HOW has he not been thrown from office yet???? It is incomprehensible!
When will the public put a stop to this government enabled THEFT??
DODD is a criminal!! Arrest him NOW