Memo To Senator Dodd – Please Shut Up
Yesterday there was the story from Planet Money that government officials weren’t even mentioning nationalizing banks because just doing so could send their stock into the toilet. Today there’s the story that bank stocks plummeted after Senator Chris Dodd, chairman of the banking committee, said banks my have to be nationalized. The story was headline [...]
The Swedish Solution (or not)
When talking about nationalizing banks Sweden is often mentioned as a model for success. The problem is, this isn’t exactly true. Planet Money talked to the vice chairman of the Swedish Central Bank. The high points: 1. Sweden had only 4 to 6 big banks (big relative to their economy) 2. The government owned 80% [...]
Investors Lose – Politicians Win
The Connecticut Post reports that Senator Dodd received $27,500 in campaign contributions from the Stanford Financial Group which was recently accused of ripping off investors to the tune of $8 Billion. Of course, Stanford made sure to spread the money around so Dodd can hardly be singled out. But, since he’s my Senator (well, not [...]
Chris Dodd To Write Book?
There’s been reports that Senator Dodd might write a book about the financial crisis. An insider’s guide? A tell-all? Sure, someone says he plans to donate the proceeds to charity. Even if that’s true it’s not without benefit to him. He gets to put a spin on his contributions to the meltdown while on Senate [...]
Great Theater
I know politicians usually have an agenda for everything they do and that agenda may not match their words. But still, this is great and if I could I’d vote for Rep. Ackerman. via
Senator Dodd Disappoints
That’s according to the Hartford Courant editorial page. At least one paper understands that the Senator’s recent dog and pony show doesn’t prove he didn’t get favorable treatment from a company he regulated at the time that company was doing the type of business that greatly contributed to our current financial mess. As the Courant [...]
Dodd Trying To Make It All Just Go Away
Senator Dodd is going to re-finance the two sweetheart mortgages he received through Countrywide. So like his recent friends I suppose he figures since it was an “honest mistake” he’s made it all better now. Oh wait, he’s said there was nothing improper about the mortgages so no need to make it better. I suspect [...]
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