Posted on 01/06/2010 6:55:04 PM PST by NormsRevenge
WASHINGTON – Sen. Christopher Dodd's decision to retire at the end of the year increases the chances of a Senate overhaul of Wall Street regulations that is bipartisan and friendlier to the financial sector than what President Barack Obama may want.
Political strategists from both parties and financial sector lobbyists say Dodd, the chairman of the Senate Banking Committee, is now free from re-election considerations and fundraising demands to cut a deal with Republicans without fear of alienating liberal voters.
"The political motivations associated with Chairman Dodd's re-election are now gone from the regulatory process," said Scott Talbott, senior lobbyist for the Financial Services Roundtable, which represents some of the nation's largest financial institutions.
The decision also dilutes the influence of financial sector executives and hedge fund managers who have regularly filled Dodd's campaign treasury with donations. That could make it easier for Dodd to insist on requirements that banks put more of their money at risk when they make loans and that regulators have more control over previously hidden financial transactions.
(Excerpt) Read more at news.yahoo.com ...
The slime ball will never go away he will be back to Lobby for some of the same scum again and the cycle repeats.
He’s prime material for Sec’y of the Treasury. lol I saw that one somewhere today..
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