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Tag: Chris Dodd

Christopher John “Chris” Dodd (born May 27, 1944) is an American lawyer and Democratic Party politician serving as the senior U.S. Senator from Connecticut.
Dodd is a Connecticut native and a graduate of Georgetown Preparatory School in Bethesda, Maryland, and Providence College. His father, Thomas J. Dodd, was one of Connecticut’s United States Senators from 1959-1971. Chris Dodd served in the Peace Corps for two years prior to entering law school at the University of Louisville, and during law school concurrently served in the United States Army Reserve.
Dodd returned to Connecticut, winning election in 1974 to the United States House of Representatives from Connecticut’s 2nd congressional district and was reelected in 1976 and 1978. He was elected United States Senator in the elections of 1980, and is now the longest-serving Senator in Connecticut’s history, the 9th most senior of current Senators and one of three from the 1980 freshman class who is still serving.
Dodd served as general chairman of the Democratic National Committee from 1995 to 1997. He serves as Chairman of the Senate Banking Committee. In 2006, Dodd decided to run for the Democratic nomination for President of the United States, but eventually withdrew after running behind several other competitors. In January 2010 Dodd announced that he would not run for re-election in the 2010 midterm elections. (Wikipedia Jan 2010)

Faked Reform

Dodd-Frank spurs sub-prime loans

The tentacles of sub-prime lending are far reaching and grow from a bed of corrupt politics.

The immediate cause of the worldwide financial Crash of 2008 was the extensive granting of sub-prime mortgages.

The Dodd-Frank financial reform bill introduced in Title XII, “IMPROVING ACCESS TO MAINSTREAM FINANCIAL INSTITUTIONS”, a new, fraud-prone solution to a non-existent problem, the granting of $2,500 loans to middle and low income borrowers.

In combination with other political funds, this program could be an extremely powerful tool for voter fraud. In fact, it is difficult to imagine why else it would be inserted into the Dodd-Frank Act.

Market regulation

Effective financial reform unlikely in 2010

Ferdinand Pecora (1933)

The financial reforms of the New Deal lasted for over fifty years and were based on two years of work by the US Senate Pecora Commission, spanning two administrations with bipartisan support.

In contrast, the Obama “reforms” are being concocted in secret to be rushed through the Pelosi-Reid Congress, already famous for passing substantial legislation in the dark of night, without reading the text.

Historically, slap-dash, one-party ‘reforms’ have not survived a Congress controlled by the other party.

Good and bad banks

Bank stress tests: aftermath and consequences

tarred and feathered

In May 2009, the Obama administration divided some of America’s largest banks into ‘good banks’ and ‘bad banks’.

This broke a long-standing practice of protecting the reputation of the US banking system. The Obama government seized TARP funds as an instrument of political power.

Banks, large and small, are now eager to escape the trap of taking TARP funds, which will require them to raise $74.6 billion, either by selling equities on the market, or from profits.

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Featured articles on inside pages

Stock buybacks

Stock buybacks and dividend equivalency

Corporations have argued that stock buybacks are equivalent to dividends. This article explains why this is not true and why suggesting buyback-dividend equivalency may constitute fraud.
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Securities Analysis

Is big bank complexity irreversible?

The root problem with big banks today is organizational and product line complexity. Excessive complexity in banks can be traced to the reorganization of Citibank in 1956, under Walter Wriston, following the advice of McKinsey and Company.
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US Politics

America grows with legal immigration

Legal immigration has resulted in solid growth of the US population, despite declining birth rates and an increasing number of old people. This is good news for investors in stocks and real estate. Illegal immigration appears to be less than 5% of legal immigration, and legal immigration is at an all time high.
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US equities

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In Q1 2009, stock buybacks came back, driving up equity prices and sparking a rally by dominating a thin market. These equity repurchases were financed from depreciation reserves and bond issues. More ...

US Bonds

The collapse of the dollar and US bonds?

The extreme spending of the Obama government, combined with irresponsible bank lending policies promoted by Barney Frank and Chris Dodd, portend rising interest rates, the collapse of the bond market, and the end of dollar supremacy. More ...

World Economy

What Is ‘International Liquidity’?

It used to be that the term 'international liquidity' meant the relative amount of resources available to a nation's monetary authorities that could be used to settle a balance of payments deficit. In the days of the gold standard, this would mean access to gold that could be used to redeem a nation's currency held by foreigners. More ...

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2010-07-09 16:20