2009.02.19: February 19, 2009: Headlines: Figures: COS - Dominican Republic: Politics: Congress: Election2008 - Dodd: Connecticut Post: Dodd on hot seat again
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Dodd on hot seat again
Dodd, who is up for re-election in 2010, has been ripped by Republicans for reportedly getting favored treatment on two mortgages from Countrywide Financial, which was at the heart of the nation's subprime meltdown. He's now under the gun for accepting $27,500 in campaign contributions since 2002 from Stanford Financial Group, whose Texas offices were raided Tuesday by the Securities and Exchange Commission. Connecticut Republican State Party Chairman Chris Healy issued a statement Wednesday blasting the contributions Dodd received from Stanford employees as "another example of how political tribute colored his judgment." "Chris Dodd benefactors are a rogues gallery of those who have plundered our economy," said Healy. "Because of these massive donations from Wall Street and the banks, Chris Dodd's silence and inaction were guaranteed." In a telephone interview Wednesday, Healy said he is galled Dodd can stand up on the floor of the Senate and rail against Wall Street swindlers who were the same people writing checks to his campaign only a few months ago. Senator Chris Dodd of Connecticut served as a Peace Corps Volunteer in the Dominican Republic in the 1960's.
Dodd on hot seat again
Dodd on hot seat again
By Peter Urban
STAFF WRITER
Posted: 02/18/2009 08:41:24 PM EST
WASHINGTON -- Connecticut Sen. Chris Dodd came under renewed attacks Wednesday from Republicans who claim he has been bought off by a "rogues gallery" of financial scofflaws.
Dodd, who is up for re-election in 2010, has been ripped by Republicans for reportedly getting favored treatment on two mortgages from Countrywide Financial, which was at the heart of the nation's subprime meltdown.
He's now under the gun for accepting $27,500 in campaign contributions since 2002 from Stanford Financial Group, whose Texas offices were raided Tuesday by the Securities and Exchange Commission.
But Dodd's Republican accusers have their own explaining to do.
Stanford treated the chairman of the National Senatorial Campaign Committee to a four-day trip to Antigua back in November 2004. Texas Sen. John Cornyn was joined by his wife on the $7,411 "fact finding trip" hosted by Stanford. Cornyn's campaign has also pocketed $19,700 in contributions from Stanford and his employees since 2003.
The SEC claims that Texas billionaire R. Allen Stanford perpetrated an $8 billion investment fraud and lied about the safety of investments sold as "certificates of deposit." On the day Stanford's offices were raided, the NSCC issued a news release rehashing the saga of Dodd's mortgage deal with Countrywide and pointing out that Connecticut voters have lowered their opinion of the chairman of the Senate Banking Committee according to the latest Quinnipiac University poll.
"Only when faced with public scrutiny and plummeting poll numbers did Dodd turn his attention to fixing the economy, but unfortunately for his re-election chances, Connecticut voters are seeing through this political posturing and not liking what they see," said Brian Walsh, NRSC communications director.
Dodd's office said Wednesday he plans to donate the Stanford contributions to charity.
Connecticut Democratic State Party Chairwoman Nancy DiNardo said Wednesday she doubts the Stanford scandal would slow Cornyn and the Republicans' attacks against Dodd.
"If anything, it should silence them on this attack, but they don't have many races that they feel they can focus on and unfortunately their only mentality is attack mode," DiNardo said.
Indeed, Connecticut Republican State Party Chairman Chris Healy issued a statement Wednesday blasting the contributions Dodd received from Stanford employees as "another example of how political tribute colored his judgment."
"Chris Dodd benefactors are a rogues gallery of those who have plundered our economy," said Healy. "Because of these massive donations from Wall Street and the banks, Chris Dodd's silence and inaction were guaranteed."
In a telephone interview Wednesday, Healy said he is galled Dodd can stand up on the floor of the Senate and rail against Wall Street swindlers who were the same people writing checks to his campaign only a few months ago.
As to Cornyn, Healy said Dodd should be held to a higher standard of accountability because he is chairman of the committee. He also does not believe Dodd can deflect criticism using Cornyn.
"Dodd is our senator, not Cornyn," Healy said.
Walsh said there is a big difference between being one of 100 members of Congress to accept a "properly reported" campaign contribution from Stanford than the situations surrounding Dodd, which are the subject of a Senate ethics investigation.
"Sen. Dodd not only received a sweetheart personal home mortgage from Countrywide, but the individual who apparently signed off on his mortgage deal, Angelo Mozzilo, finished No. 1 this week in Time magazine's list of the '25 People to Blame for the Financial Crisis,' " Walsh said.
Larry Sabato, a professor of politics at the University of Virginia, said Cornyn's association with Stanford gives Dodd a rebuttal but not a particularly strong one.
"The problem is that Dodd is on the ballot in Connecticut and 99.9 percent of the people in Connecticut don't know who John Cornyn is," he said. "And, voters don't want you telling them if someone else has dirty hands. They want to know if your hands are dirty."
Sabato, who handicaps federal campaigns, said Dodd is one of three or four Democratic senators who could face a serious challenge in 2010. Given the "slim pickings" for Republican gains, Sabato expects Dodd will continue to face an onslaught of attacks from the NRSC.
"They don't have a choice," he said.
Nathan Gonzales, political editor of the Rothenberg Report, also doesn't expect Republicans will stop going after Dodd and his ties to Wall Street. For the average Connecticut voter, the focus will be on Dodd and his actions.
"Cornyn is not running against Dodd. If Dodd and the Democrats want to explain why Republicans aren't credible messengers because of a Texas senator who runs the NRSC, they'll have a lot of dots to connect," Gonzales said.
Robert M. Stein, a political scientist at Rice University in Houston, said reports of Stanford's donations to Cornyn and the senator's trip to Antigua on a trip paid by Stanford "are not going to help Cornyn's cause" as chairman of the GOP Senate campaign committee.
Dodd ranked fourth among lawmakers taking donations from the company. Sen. Bill Nelson, D-Fla., was first with $45,900. He was followed by Rep. Pete Sessions, R-Texas, at $41,375; Sen. John McCain, R-Ariz., at $28,150; Dodd; and Cornyn at $19,700.
The top 10 list of members of the 111th Congress who received contributions from the PAC and/or employees of the Stanford Financial Group since 1989 (includes contributions to both candidate committees and leadership PACs): Sen. Bill Nelson (D-Fla.) $45,900 Rep. Pete Sessions (R-Texas) $41,375 Sen. John McCain (R-Ariz.) $28,150 Sen. Chris Dodd (D-Conn.) $27,500 Sen. John Cornyn (R-Texas) $19,700 Sen. Charles E. Schumer (D-N.Y.) $17,000 Rep. Charlie A. Gonzalez (D-Texas) $15,500 Rep. Gregory W. Meeks (D-N.Y.) $15,100 Rep. Pete Olson (R-Texas) $14,500 Sen. Richard C. Shelby (R-Ala.) $14,000 Source: Center for Responsive Politics
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