Dodd Taps Wall Street Money For Re-election

[Purveyor]

(04-20) 11:28 PDT WASHINGTON (AP) --

Wealthy Wall Street executives may be outcasts to some Americans, but not to Democratic Sen. Chris Dodd.

Facing his toughest re-election fight, the chairman of the Senate Banking Committee is reaching out to the financial sector's deep-pocketed donors for the campaign cash he needs to hang onto his Connecticut seat.

It's a practice that worked for Dodd in the past as millions flowed in and the five-term lawmaker cruised to victory. Down in the polls and looking at a tough Republican challenge next year, Dodd again is turning to the financial industry for campaign money, undeterred by the populist Main Street anger.

More than $100,000 of the $1 million Dodd raised in the first three months of this year came from political action committees for the financial, insurance and real estate industries, according to his latest fundraising report. Among his donors were PACs for the American Insurance Association, Mortgage Bankers Association, Vanguard, Oppenheimer Funds, Charles Schwab, Real Estate Roundtable and Ameriprise Financial.

Dodd raised $608,995 from individuals, among them top executives from companies such as Fidelity, Citigroup and Citizens Financial Group. His take from Connecticut residents was $4,250, an especially anemic display of political enthusiasm for the state's senior senator.

[w4rma]

1. Wow. (nt)

[lldu]

2. So his campaign is financed by the Bailout funds? N/T

[Zynx]

3. In a way, yes.

[Inuca]

4. Remember when Dodd was the FISA hero?

He is the same person. Imperfect like everybody. Especially when we each define "perfection" in our own way.

[navarth]

5. I remember, I gave him money

But this is a disappointment, no avoiding it.

[Inuca]

6. I am not particularly happy about it either

All I am saying is that he is not democratic evil incarnate, which some around here portray him to be at times. The system is the way it is in terms of financing, etc., and it's unrealistic to expect a senior senator representing CT and heading the banking committee not to receive heavy contributions from the financial sector. He may have done things that would have been better left not-done, but I still think that Dodd is one of the best out there.