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Chris Dodd's carve-outs for cronies
NY Post ^ | April 27, 2010 | Mark A. Calabria

Posted on 04/27/2010 3:33:15 AM PDT by Scanian

The financial-regulatory bill now before the Senate is so filled with special-interest loopholes and exclusions that it makes the health-care "reform" bill, with its "Cornhusker Kickback" and "Louisiana Purchase," look like a model of rectitude.

The Senate bill, sponsored by Democrat Chris Dodd, claims to subject all "too big to fail" institutions to greater federal supervision, but in fact it only mandates such regulation for bank-holding companies. Regulators would have to make a case-by-case decision on whether to apply it to other financial companies.

That's no minor oversight, because insurance companies, like AIG, tend to have thrift charters rather than bank charters. So, as the bill stands now, AIG and other insurers that accepted massive bailout funds, such as The Hartford, would not be automatically covered. That's a head-scratcher only if you forget that most insurance companies reside in Dodd's home state, Connecticut.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections; US: Connecticut
KEYWORDS: bailouts; bigbanks; dodd; insurancecompanies; loopholes; senate; wallstreetregulation

1 posted on 04/27/2010 3:33:16 AM PDT by Scanian
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To: Scanian


2 posted on 04/27/2010 3:34:41 AM PDT by lowbridge (Rep. Dingell: "Its taken a long control the people.")
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To: lowbridge

Musta needed a nest egg for the Irish castle... Dodd is such a xxxx

3 posted on 04/27/2010 3:40:00 AM PDT by pointsal
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To: Scanian

Good post. I was waiting to see the exceptions delineated. Doubtless there are more. So just to recap....
Freddie, Fanny, and derivatives will not be subject to the new regulations - even thought they (in addition to Dodd himself) were responsible for the meltdown. The only thing missing here the exemption for banks that stupidly finance houses for those that cannot afford them. It must be there somewhere. Heck, that’s only “fair”

4 posted on 04/27/2010 3:46:33 AM PDT by bossmechanic (If all else fails, hit it with a hammer)
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To: Scanian
AIG chiefs pressed to donate to Dodd
As Democrats prepared to take control of Congress after the 2006 elections,
a top boss at the insurance giant American International Group Inc. told colleagues that Sen. Christopher J. Dodd
was seeking re-election donations and he implored company executives and their spouses to give.
The message in the Nov. 17, 2006, e-mail from Joseph Cassano, AIG Financial Products chief executive, was unmistakable:
Mr. Dodd was "next in line" to be chairman of the Senate Banking, Housing and Urban Affairs Committee, which oversees the insurance industry,
and he would "have the opportunity to set the committee's agenda on issues critical to the financial services industry."

"AIG's Small London Office May Have Lost $500B"
Ground zero for AIG's spectacular implosion, which has soaked up more federal bailout money
than any other entity, appears to have been a small London branch office
that may have lost nearly half a trillion dollars in bad deals."

5 posted on 04/27/2010 3:51:16 AM PDT by Diogenesis (Article IV - Section 4 - The United States … shall protect each of them against Invasion)
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To: Scanian; OafOfOffice; ozark hilljilly; eeevil conservative

From yesterday’s Beck TV thread

I just now watched the Glen Beck show in entirety. I only had bits and pieces when I posted earlier. I know I have the original article on Obama funding the Global exchange somewhere in my files.

BUT, here is what Glen Beck did not say. In 2006 when Goldman sachs bought 10% in this redistribution of wealth scam, Obama also bought shares of goldman sachs. I have posted this before but it so relevant again. This was all planned and Obama was going to get his share.

Obama 2005 financial filings.

AVI biopharma
Sky Terra

mutual fund;
Obama 2006 financial filings;

Purchase GOLDMAN SACHS 2006, 2006,2006

Mutual funds,
Marshall prime money

Pretty much the same as 2006.

Obama Vanguard accounts.

87 posted on Tuesday, April 27, 2010 2:59:04 AM by OafOfOffice

6 posted on 04/27/2010 3:51:28 AM PDT by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spirito Sancto.)
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To: Scanian

Fritz Dodd, the lame duck is taking point on advancing the dems agenda - he has nothing to lose.

7 posted on 04/27/2010 4:01:54 AM PDT by camle (keep an open mind and someone will fill it full of something for you)
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To: Scanian
This is a bad.

"..For example, your real-estate agent cannot, under RESPA, be paid a fee for steering you toward a certain home inspector, title company or other closing service. Yet, under the Dodd bill, real-estate agents would be exempted from RESPA. If that weren't bad enough, the Dodd bill exempts insurers and attorneys -- both now subject to RESPA -- from its consumer protections, too..."

This kind of thing can only be the result of a payoff.

8 posted on 04/27/2010 6:20:06 AM PDT by Anti-Bubba182
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To: Scanian

This should be under breaking news. These facts are heavy ordnance to pound the dims with. Bring on a filibuster and lay out all the kickbacks in the bill.

This is another case of the dims wanting to ram a bill through before the details are widely known. If the Republicans can hold together and throw some sunshine on this they can win the debate.

9 posted on 04/27/2010 7:26:45 AM PDT by lodi90
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To: lodi90; NormsRevenge; SierraWasp; Marine_Uncle; BOBTHENAILER; tubebender

Good points!

The Dog and pony beat em up show yesterday...Goldman Sachs hearing .... Chaired by Senator Levin was all about pushing this Dodd bill through!

10 posted on 04/28/2010 9:49:03 AM PDT by Ernest_at_the_Beach ( Support Geert Wilders)
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To: lodi90

Sen Collins will get rolled...

11 posted on 04/28/2010 9:53:08 AM PDT by Ernest_at_the_Beach ( Support Geert Wilders)
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To: Ernest_at_the_Beach

Why do I get the impression that Dodd is a bigger crook then any of the folks on Wall Street?

12 posted on 04/28/2010 2:21:18 PM PDT by Marine_Uncle (Honor must be earned....)
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To: Apple Blossom


13 posted on 05/09/2010 5:30:44 PM PDT by bmwcyle (Thank You God for Freeing the Navy Seals)
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