Skip to main content

In Defense Of Chris Dodd, Or Why Wolf Blitzer Is A Jerk

Thursday’s Hartford Courant shows a picture of US Sen. Chris Dodd above the fold looking for all the world like a man who has seen the beginning of the end, and over his head there is a bothersome headline in three quarter inch caps proclaiming DODD’S FLIP-FLOP.

What to make of all this?

A senator has flip-flopped? Oh my! What is the country coming to?

The headline, the picture and the story follow a stunning interview with Wolf Blitzer in which Wolf pins Dodd’s ears back, slams him to the floor and dances on his chest?

But Wolf Blitzer is a jerk; always was, always will be.

Some will say he is doing his job.

Possibly -- if it is the job of a jackal to lunge into the side of a wounded wilderbeast.

Jackal? Wilderbeast? What the….



There should be something in us that recoils whenever we see jackals advancing on a corpse.

Dodd, who all his political life had shown some mastery of the legislative sausage machine, got caught up in it this time. The organ has swallowed the organ master. The first few graphs of the Keating story in the Courant contain all the usual well worn slings and arrows: “Dodd, already reeling… In a retreat from earlier statements… Dodd admitted… negative attention… Dodd is already vulnerable… AIG’s controversial bonuses…”

Now then, the bonuses received by the administrators of AIG are, everyone agrees, obscene. But that is becasue AIG, a governmental industrial complex, also is obscene. If we had not forgotten the meaning of revolution, the guillotine long ago would have been set up in some public square, and all of us could have enjoyed the beheadings of the CEOs of all the GSEs (Government Supported Entities).

AIG is the company that injected all the poisonous “derivatives” into the bloodstream of the nation’s marketplace. But it would be an insult to Charles Ponzi to describe this poisoning of the system as a Ponzi scheme. Students of history will remember that Charles Ponzi was a protégé of Luigi Zarossi, a Canadian who started a bank in Montreal for Italian immigrants. The back got into trouble because of bad mortgage loans – does this sound familiar? – and Zarossi hit on a scheme involving fraudulent stocks later perfected by Ponzi to salvage the bad loans.

When Zarossi’s fraud was discovered, he fled to Mexico with enough cash to allow him to enjoy the good life as a retired banker. Ponzi was not so lucky.

The story at AIG is eerily similar. It has been pointed out, both here in this blog and in columns made available to scores of papers in Connecticut, that the mortgage crisis in the United States was the finger that pushed all the other dominoes now crashing down upon us. None of the lions in the senate were paying the least bit of attention.

Why? Because they were intent on salvaging their own Ponzi scheme. Barney Frank and Chris Dodd are still trying to reinvent the economic wheel to make it possible for people to own houses who cannot afford reasonable mortgage payments, and they are largely responsible for the crash of the mortgage market. It also has been said, both in this blog and in columns, that if the problem is that companies like AIG are too big to fail , the problem is THEY ARE TOO BIG. The US government, far from propping up monopolies, should dismantle them. Companies to big to fail should be broken up by bankruptcy judges – who operate outside the confines of the legislative sausage machine that now has ground up Dodd. May it also grind up Barney Frank.

If Wolf Blitzer wants to dilate on all this, he certainly has a forum in which to do it.

But he won’t – because he’s a jerk.

Over at the sausage machine, it was Dodd who was playing the part of the grown-up. Revoking AIG bonuses, which are a part of past contracts, is almost certainly unconstitutional. Retroactive legislation is inherently unconstitutional The grown-up lawyer in Dodd probably recognized this. So, he was being pulled in two different directions, first by his heart – not to mention a yearning for demagoguery his comrades on the left relish – and then by his head, a recipe for tearing yourself asunder.

And Dodd, appearing weak and old in photographs, now has been torn asunder – not because he is a bad man, for Dodd is not a bad man, but because his heart has put him in the scent of jackals.

Wolf Blitzer cannot begin to comprehend why.

Comments

Anonymous said…
Not a bad man?! How can you say that given his record since 1980 of being asleep at the switch, especially on banking and finance "oversight", and the impact his inaction or corrupt action has had on Americans? -Paul
Don Pesci said…
I've made it pretty plain that I disagree with Dodd’s politics; in this regard, he's made disastrous economic policy decisions. In time, he’ll pay for every one of them. The Glass-Steagall Act, for instance, stood as a breakwater between banks and what became, after it was dismantled, monopolistic lending institutions such as Countrywide, AID and other GSE’s (Government Supported Entities.) Dodd and Barney Frank were largely responsible for dismantling that breakwater. There are other examples. But being a bad man is something different. You should not need to convict a politician of gross moral improprieties to get him out of office. I’m just not interested in poking around in people’s souls.
Anonymous said…
Don-

We don't presume to judge the man- we
just want him out of office. He is part of a corrupt political class and
we the people want our country back.

Check out dumpchrisdodd.com
Don Pesci said…
Go get him.

Popular posts from this blog

The Blumenthal Burisma Connection

Steve Hilton, a Fox News commentator who over the weekend had connected some Burisma corruption dots, had this to say about Connecticut U.S. Senator Dick Blumenthal’s association with the tangled knot of corruption in Ukraine: “We cross-referenced the Senate co-sponsors of Ed Markey's Ukraine gas bill with the list of Democrats whom Burisma lobbyist, David Leiter, routinely gave money to and found another one -- one of the most sanctimonious of them all, actually -- Sen. Richard Blumenthal."

Dave Walker, Turning Around The Misery Index

Dave Walker, who is running for Lieutenant Governor on the Republican Party ticket, is recognized by most credible political observers as perhaps the most over qualified candidate for Lieutenant Governor in state history.
He is a member of the Accounting Hall of Fame and for ten years was the Comptroller General of the United States. When Mr. Walker talks about budgets, financing and pension viability, people listen.
Mr. Walker is also attuned to fine nuances in political campaigning. He is not running for governor, he says, because he had moved to Connecticut only four years ago and wishes to respect the political pecking order. Very few people in the state think that, were he governor, Mr. Walker would know less about the finance side of government than his budget chief.

Murphy Stumbles

U.S. Senator Chris Murphy has been roughly cuffed by some news outlets, but not by Vox, which published on April 16 a worshipful article on Connecticut’s Junior Senator, “The Senator of State: How Connecticut’s Chris Murphy, a rising Democratic star, would run the world.”
On April 15, The Federalist mentioned Murphy in an article entitled “Sen. Chris Murphy: China And The World Health Organization Did Nothing Wrong. The lede was a blow to Murphy’s solar plexus: “Democratic Connecticut Sen. Chris Murphy exonerated China of any wrongdoing over the global pandemic stemming from the novel Wuhan coronavirus on Tuesday.
“’The reason that we’re in the crisis that we are today is not because of anything that China did, is not because of anything the WHO [World Health Organization] did,’ said Murphy during a prime-time interview with CNN’s Anderson Cooper.”