Message to Senator Dodd: You first

Talking Head Chris Dodd appeared on Face the Nation this morning.  His statements will be remembered  for their breathtaking chutzpah

 A key senator says the nation's car companies should have to replace top executives in exchange for a long-term bailout package from Congress.

Sen. Chris Dodd heads the Senate Banking Committee. He says he is hopeful Congress will pass a short-term $15 billion aid package for the automakers in the next several days. But the Connecticut Democrat says the companies should have to restructure if they want a more significant bailout from Congress next year.

Dodd says the companies need quick cash to avoid collapse in the next several weeks. But over the long-term, Dodd says Chrysler probably ought to merge with another company and General Motors should be required to replace chief executive Rick Wagoner.

http://biz.yahoo.com/ap/081207/congress_autos.html

Now, Chris, I'm with you on Wagoner walking the plank. After all, GM is hemorraging money and Wagoner failed to prevent this from happening.

But, shouldn't you be held to the same standard as Rick Wagoner? 

You've admitted the Wall Street bailout that you principally drafted largely failed http://thenextright.com/ironman/chris-dodd-on-the-bank-bailout-yep-i-pulled-a-plaxico

You spent the critical month of August 2008 at your vacation home in Ireland instead of working to prevent the financial meltdown http://www.thenextright.com/ironman/oh-doddy-boy-the-banks-the-banks-are-failing 

You were the number one recipient of campaign funds from Fannie Mae and Freddie Mac  and your all time top contributor, Citigroup http://www.opensecrets.org/politicians/contrib.php?cycle=Career&cid=N00000581 just got an early $20 Billion Christmas present from the Treasury, just like all the other friends you have on Wall Street going hat in hand http://thenextright.com/ironman/the-best-senate-banking-chairman-money-can-buy    (Funny, I don't recall the heads of Citigroup or Bank of America being asked to tender their resignation prior to getting taxpayer bailout money?)Then again, you've always been a "reliable friend' the banking industry http://www.washingtonpost.com/wp-dyn/content/article/2007/02/15/AR2007021501555.html

Your "reliable friends" at Countrywide Mortgage are being investigated by the G-Men http://deepbackground.msnbc.msn.com/archive/2008/10/30/1613877.aspx 

You tried to enrich ACORN at the expense of the taxpayers when you drafted the Wall Street Bailout http://thenextright.com/ozarkguru/major-earmark-in-democrat-bailout-agreement

Now, I'm sure you are going to say that Rick Wagoner lacked vision since he failed to foresee the collapse of his industry. Well, how aren't you equally culpable?

You said your bill in July 2008 was the answer to the housing crisis http://blogs.courant.com/on_background/2008/07/housing-bill-finally-heads-to.html

This was after in March of 2007, you said legislation on foreclosures was unnecessary http://query.nytimes.com/gst/fullpage.html?res=9E01EEDE1530F930A15750C0A9619C8B63

And before the complete meltdown of the global financial system you said you did not expect "many more banks to fail" http://thehill.com/leading-the-news/dodd-does-not-expect-many-more-banks-to-fail-2008-07-14.html and told people not to "panic" http://www.usnews.com/usnews/politics/bulletin/bulletin_080715.htm

Rick Wagoner has gone through tens of billions of shareholder equity. What is the present estimate of the various financial bailouts out there? (I' ve seen $7 Trillion!) http://money.cnn.com/2008/11/26/news/economy/where_bailout_stands/index.htm?postversion=2008112615

Maybe had Dodd not lived in Iowa in 2007 this could have been avoided http://www.gwu.edu/~action/2008/ia08/doddiavisits07.html

On September 23 I called for Dodd to step down as Banking Committee Chairman

Does anyone think Chris Dodd's performance since September 23 as Banking Committtee Chairman has done anything worthy of his retention?

How has he proven to be any less incompetent than Rick Wagoner?

I await the Senator's response.