Free Republic

I listened to every word of President Obama’s statement on signing the financial institutions’ “reform” law, Wednesday morning. That was a filthy job, but somebody had to do it. The longest applause during the entire charade was when Obama thanked Rep. Barney Frank and Sen. Christopher Dodd for their “tireless work” in getting this bill passed. Now, class, let’s conduct a brief review. First, not every Act that contains the word “reform” actually reforms or improves anything. As your grandma used to say, “Just because the cat has kittens in the oven, doesn’t make them biscuits.” Second, this “reform” law...

While the Senate constructed the $787 billion stimulus last month, Dodd unexpectedly added an executive-compensation restriction to the bill. That amendment provides an “exception for contractually obligated bonuses agreed on before Feb. 11, 2009,” which exempts the very AIG bonuses Dodd and others are seeking to tax. The amendment is in the final version and is law.

Back in June the WSJ reported tha Connecticut Senator Chris Dodd, reportedly received "preferential" interest rates from Countrywide Financial Group because was "friends" of the company's chairman and chief executive, Angelo Mozilo. The report said Countrywide made two loans in 2003 at special rates to Sen. Dodd, a $503,000 loan to refinance a Washington townhouse and a $275,042 loan to refinance a loan on his home in East Haddam, Conn. The article said Countrywide waived fractions of points on the loans, a move that likely saved Sen. Dodd money. The lower interest rates could have saved Sen. Dodd combined $75,000...

<p>The top Senate Democrat yesterday defended a colleague's assertion that Sen. Robert C. Byrd, a former Klansman, would have been a great leader during the Civil War.</p> <p>Sen. Tom Daschle said there was "no parallel" between Sen. Christopher J. Dodd's praise of Mr. Byrd and Republican Sen. Trent Lott's praise of former segregationist Sen. Strom Thurmond.</p>