Chris Dodd trying his hardest to derail an Elizabeth Warren CFPB nomination

[marmar]

from ThinkProgress:



Dodd: It’s Not Worth A Fight To Get Elizabeth Warren Confirmed As CFPB Director


When it first looked like Harvard Law professor Elizabeth Warren might stand a serious chance of getting appointed at the first director of the newly-created Consumer Financial Protection Bureau — a regulatory agency which she was the first to suggest — Senate Banking Committee Chairman Chris Dodd (D-CT) poo-pooed the notion, saying there’s a “serious question” about whether Warren is “confirmable.”

The New Republic’s Noam Scheiber wrote that “after surveying a dozen insiders over the last few days — congressional aides, industry officials, progressive activists, and a few administration officials — I’ve concluded that the odds are good that Warren would be confirmed if nominated by the White House.” And Dodd now seems to have shifted his rhetoric, saying that even if Warren is confirmable, it’s not worth a potential fight to get her the job:

What you don’t need to have is an eight-month battle for who the director or the head or chairperson of this new consumer financial protection bureau will be.

Watch it: http://thinkprogress.org/2010/08/07/dodd-warren-fight/


Dodd pretty clearly would prefer that current Federal Deposit Insurance Corp. Chair Shelia Bair receive the nod, but Bair has said that she’s not interested in the job. “I did some checking on Sheila Bair and I was going to have very little difficulty getting Sheila Bair confirmed,” said Dodd. “I’d probably confirm her in a couple of days. That’s how strongly people felt, Democrats and Republicans.”

Bair certainly has the credentials to do the job, as she was one of the first federal officials warning about the proliferation of subprime loans during the buildup of the housing bubble. But she’s doing very important work at the FDIC, and as The Wonk Room explains, there’s simply no reason for passing over Warren.

Leaving aside Warren’s qualifications, it makes little sense that Dodd feels a political fight here isn’t worth it. Warren is an unabashed, articulate consumer advocate, and her nomination would set up a clear choice: consumers or the banks. After having overwhelmingly voted against the Dodd-Frank Wall Street reform bill, Republicans standing against her nomination would once again be siding with the financial services industry. It’s worth the fight to show that dynamic at work.


http://thinkprogress.org/2010/08/07/dodd-warren-fight/

[asdjrocky]

1. They've called Dodd up to the Majors.

He's got nothing to lose.

[IndianaJoe]

2. Agreed. Let the Republican's filibuster. Either way it comes out,

we win.

[IndianaJoe]

3. Deleted- Duplicative

[Better Believe It]

5. A real filibuster. Not the fake pretend kind.

[deaniac21]

4. Dodd is a paragon of exellence!

[Bitwit1234]

6. He wants someone else nominated and is fighting hard for them

He must be getting a hell of lump sum from the banks and wall street if he gets them in.

[annabanana]

7. What the hell is his problem with her?

Has his time on the Senate Banking Committee made him lose sight of who he's supposed to be working for? It's a common thing there in DC, I hear.

[laughingliberal]

8. I think it's been pretty apparent through the Fin Ref process, he lost site of who he represents.

Fully expect him to take a position with one of the industries that's been screwing us all along.

[Hell Hath No Fury]

12. I just watched "Capitalism: A Love Story" --

and Mr. Dodd appears to be deep into tehe corruption and the protection of those who he truly represenst. Hint: it ain't us.

[jaxx]

9. I wonder if he secretly wants the job.

[spanone]

10. mr dodd knows who his constituents are.....

1 Securities & Investment $57,500 $288,848 $346,348
2 Lawyers & Law Firms $67,131 $277,048 $344,179
3 Democratic/Liberal $1,000 $326,450 $327,450
4 Health Professionals $88,000 $105,450 $193,450
5 Leadership PACs $167,000 $0 $167,000
6 Insurance $61,100 $103,650 $164,750
7 Real Estate $46,785 $88,605 $135,390
8 Lobbyists $10,100 $123,079 $133,179
9 Retired $0 $121,690 $121,690
10 Pharmaceuticals & Health Products $83,050 $29,250 $112,300
11 Business Services $3,500 $69,000 $72,500
12 Finance & Credit $19,000 $42,450 $61,450
13 Hospitals & Nursing Homes $20,500 $34,700 $55,200
14 General Contractors $3,000 $44,450 $47,450
15 Accountants $7,500 $36,650 $44,150
16 Lodging & Tourism $8,000 $24,600 $32,600
17 Education $1,000 $30,150 $31,150
18 Public Sector Unions $29,000 $700 $29,700
19 Pro-Israel $8,000 $19,650 $27,650
20 Retail Sales $5,500 $21,650 $27,150
21 Industrial Unions $27,100 $0 $27,100
22 Misc. Manufacturing/Distributing $0 $31,000 $31,000
23 Transport Unions $27,000 $0 $27,000
24 Human Rights $8,000 $16,350 $24,350
25 TV, Movies, & Music $7,000 $15,100 $22,100
26 Publishing $0 $21,850 $21,850
27 Health Services $12,500 $8,520 $21,020
28 Candidate Committees $20,801 $0 $20,801
29 Computers & Internet $2,500 $15,550 $18,050
30 Civil Servants $0 $15,400 $15,400
31 Subcontractors $0 $14,750 $14,750
32 Crop Production $5,000 $9,700 $14,700
33 Air Transport $7,999 $6,400 $14,399
34 Automotive $5,000 $9,350 $14,350
35 Pro-Choice $10,000 $3,900 $13,900
36 Misc. Defense $5,500 $8,300 $13,800
37 Misc. Unions $13,000 $0 $13,000
38 Casinos & Gambling $5,000 $7,600 $12,600
39 Commercial Banks $0 $19,000 $19,000
40 Recreation $10,000 $1,400 $11,400
41 Electric Utilities $1,500 $8,300 $9,800
42 Building Materials $0 $9,600 $9,600
43 Defense Electronics $9,000 $150 $9,150
44 Non-Profits $0 $9,200 $9,200
45 Building Trade Unions $7,500 $0 $7,500
46 Environment $3,000 $4,100 $7,100
47 Construction Svcs $1,000 $5,400 $6,400
48 Misc. Services $0 $6,200 $6,200
49 Food Processing & Sales $5,500 $0 $5,500
50 Agricultural Services $0 $4,800 $4,800
51 Tobacco $0 $4,800 $4,800
52 Home Builders $3,500 $0 $3,500
53 Steel Production $1,000 $2,400 $3,400
54 Defense Aerospace $4,500 $0 $4,500
55 Telecom Services & Equipment $0 $3,050 $3,050
56 Chemicals $1,725 $1,300 $3,025
57 Oil & Gas $0 $3,000 $3,000
58 Telephone Utilities $0 $2,900 $2,900
59 Food & Beverage $0 $2,600 $2,600
60 Credit Unions $1,500 $1,000 $2,500
61 Livestock $0 $2,400 $2,400
62 Business Associations $2,000 $0 $2,000
63 Sea Transport $0 $2,000 $2,000
64 Savings & Loans $0 $1,500 $1,500
65 Trucking $1,500 $0 $1,500
66 Waste Management $0 $1,000 $1,000
67 Clergy & Religious $0 $500 $500
68 Dairy $0 $500 $500
69 Beer, Wine, & Liquor $500 $0 $500
All industries Total $896,791 $2,068,940 $2,965,731
Data powered by FAQ | Definitions | FEC Filing Deadlines

http://politics.usnews.com/congress/dodd-chris/industries

[Kurovski]

13. To peruse that is to be nauseated. (nt)

[rhett o rick]

24. He is a DEMOCRAT!!! You have no right in DU to critisize him. Democrats are all gods here. Shame

on you. Fuck Dodd

[MannyGoldstein]

11. Lay the fuck off of Dodd

Clinton, Summers, Emmanuel, and Ruben got their millions for helping the banks- why the hell do you want to take bread from Dodd's mouth?

[rhett o rick]

27. Good point Manny. nm

[icnorth]

33. Exactly. Chuck should not be separated

from his corporatist burqa.

[stevedeshazer]

14. What a scumbag. Connecticut has the worst Senators ever.

At least Oklahoma calls both their Senators Republicans.

Chris and Joe, I'm not sure what to call them.

Pimps, I guess.

[ZM90]

15. Dodd needs to back off!

C'mon Obama nominate Warren! K&R

[Dr.Phool]

22. The cynical side of me says he's carrying Obama's water on this one.

Dodd's not smart enough to come up with this on his own.

I got to spend a few hours talking with him when he was running for President. I came away thinking, "This guy is the dumbest democratic politician I've ever met". Nowadays, I add a disclaimer. "I've never met Evan Bayh".

[ibegurpard]

30. nah, that could never happen

[pa28]

16. Let's see. Do you have an 8 figure wall street job lined up Sen. Dodd?

If you do your odd preoccupation with drowning the Warren nomination is starting to look like a conflict of interest.

[Chan790]

18. I assure you that he does.

I grew up in CT and was active in Democratic politics there. I still have friends there in those circles...Dodd is categorically opposed to Warren getting the job...but then again, I hear so is President Obama.

They want a DLC-aligned, corporate-friendly centrist much like Sheila Bair (who is on record as not wanting the job) You can sleep easy knowing that the nominee for this position will be selected from a short list compiled by the likes of Summers, Geithner and Rahm.

Change you can believe in: You'll like our foxes in the hen-house better than the GOP's!

[CrispyQ]

36. Harr!

Love your last paragraph!!!

:rofl: :rofl: :rofl:

[WillyT]

17. HUGE K & R !!!

:mad:

:banghead:

:kick:

[Wednesdays]

19. K&R

:kick:

[jmowreader]

20. What's it matter?

This is the problem: The bill does not:

* reinstate Glass-Steagall
* limit the interest rates charged by credit card companies*
* eliminate the problem of "too big to fail" banks by keeping them from getting that way in the first place (hint: if you've got one bank corporation with branches in 50 states, it's too big)
* regulate asset-backed securities (the derivative classes we call Asset-Backed Securities, Mortgage-Backed Securities and Collateralized Debt Obligations)
* bar the most abusive mortgages from being issued
* ban naked CDS and synthetic derivatives
* or prevent the banks from referring to the little offices you go to store your money with them as "stores" instead of "branches." Guys, you SELL shit in a store, you do SERVICE in a branch.

Since it doesn't actually fix any of the problems we have, why does it matter who they put in charge of the consumer protection agency?

* I stole this from the Home Depot credit card information page:

With credit approval for qualifying purchases made on The Home Depot or EXPO Design Center Consumer Credit Card, Rates as low as 17.99% APR; Actual rates from 17.99% - 26.99% APR; Fewer than half of applicants will qualify for a rate of less than 25.99% APR. Penalty APR 29.99% (rates may vary). Minimum INTEREST CHARGE: $2. See card agreement for details including when the penalty rate applies. Offer is only valid for consumer accounts and is subject to change without notice.

In other words, half the people who put in for this card are going to be sending Citibank--the nest of vipers that runs Home Depot's credit card division--$127 for every $100 worth of stuff purchased. 'Course, if the bastards would take less than four seconds to evaluate your credit history, half the country might not be paying 27 percent interest on their 2x4s.

[sendero]

21. Dodd's corrupt.

.... he doesn't want a do gooder making waves.

[lib2DaBone]

28. I think Dodd is beyond corrupt.

The Bankers are so arrogant.. they operate right out in the open without fear of retaliation.

Mr. Obama should not aid and abet Rubin, Dodd, Geithner, Summers or any of these Gangsters.

[hay rick]

23. Dodd is owned by Wall Street.

Matt Taibbi on Dodd-Frank: http://www.rollingstone.com/politics/news/17390/188551?RS_show_page=0#

Read it and weep. Chance of Dodd accepting a strong regulator = 0.

[lib2DaBone]

25. Chris Dodd already has his name on the door at Goldman-Sachs

..if you remember.. if was Chris Dodd and his buddy Robert Rubin who killed Glass-Steegal and allowed Goldman-Sachs to trade credit default swaps in secret.

As soon as he and Robert Rubin grab our Social Security cash in November... he'll be on his way over to Goldman to hang his hat.

[rhett o rick]

26. Plez send DipShit Dodd a message.

http://dodd.senate.gov/index.php?q=node/3128

[earcandle]

29. Thanks for the thread.

[xxqqqzme]

31. I wish he would just quit alrady

and settle into his new job w/ his long time masters. Spare us the platitudes and posturing. What a f*cking joke.

[defendandprotect]

32. I'm sure Dodd is doing that in best interests of the public!!!

Just as he watered down the financial legislation . . .

in his own interests -- new banking career ahead --

Evidently, even his aides, staff were putting the word out on that -- !!

[Jakes Progress]

34. America is a wholly owned corporation.

Corporate interests control both parties.

[Guy Whitey Corngood]

35. Hasn't this asshole done enough damage? nt