Chris Dodd over the past year has managed to alienate himself so much from his constituents that it has come into serious doubt his ability to retake his seat in a state that Obama carried 71% of the popular vote.
"His reputation has not recovered from the revelation last year that he received a sweetheart deal on his mortgage, saving upwards of $75,000 courtesy of Countrywide, one of the biggest pushers of the subprime mortgages that have landed the U.S. economy in such dire straits."
Though Dodd has stressed that no preferential treatment was given to him in the loan process, he has refused to let reporters go through the actual loan documents. What is he trying to hide?
Also, his failed Presidential campaign in 2007 left voters in Connecticut disillusioned:
"How can he identify himself as D-Conn. when he lives in Iowa?" asked a Connecticut Post editorial at the time.
Overall, it looks like a great time for Peter Schiff to enter into the Connecticut political arena to take Dodd's seat!
In response to the dire warning from the FDIC chairwoman, Senator Dodd is proposing a bill that would allow the FDIC to “temporarily” borrow as much as $500 billion from the US Treasury in order to prop up ailing banks. That’s right, half a trillion dollars. Dodd, backed by the Federal Reserve, US Treasury, and FDIC, claims that this massive loan is required to support a battered banking system that may not possess enough funds to insure customer deposits.
Apparently, trillions of dollars of bailouts, credits, and “stimulus” packages have been unable to solve the root problem. Yet, Senator Dodd’s solution is to borrow more from the Chinese and print even more money out of thin air to prop up a host of poorly run banks. As Peter Schiff has said time and time again, this type of monetary policy is disastrous to our nation’s economic survival.
Another massive bailout will skyrocket national debt, pour good money after bad, reward reckless banking practices, and prevent smaller, more successful banks from filling the void. However, Schiff’s biggest concern is that limitless spending, borrowing, and printing are setting the stage for an inflationary holocaust in the near future.
Schiff proposes an alternative solution to Dodd’s latest bailout plan. Quit borrowing more money. Quit spending more money. Quit printing more money. Let the bad banks go belly up and reward the smaller, more efficient banks. These are the banks that should be handling customer deposits. As Peter has said many times before, such a plan would create intense, short term pain, but it would lay the foundation for authentic and truly robust economy recovery.
Read the article here.
2009 may very well be Chris Dodd's last year as a CT senator. His ratings according to a local university poll have dropped to an all time low:
"Sen. Dodd is vulnerable. His approval has sunk to a new low," poll director Douglas Schwartz said when the poll was released. "The mortgage controversy has taken a toll on his approval rating. Most voters are not satisfied with Dodd's explanation and say they are less likely to vote for him next year because of it."
Along with Peter Schiff, other prominent Connecticut Republicans have openly discussed the possibility of running. All we care about is that Dodd gets kicked out!
Please join us on Friday, March 6th 2009 in telling Connecticut talk radio listeners about the disease which the corrupt Chris Dodd is spreading - taking the form of cronyism and socialism.
Call Connecticut Talk Radio shows and let the public know exactly what Senator Dodd has been up to in the Senate!
A coordinated effort to get the word out about the dangerous legislation Senator Dodd has supported and the poison he continues to spread.
See these and with show times and call in numbers.
If you manage to get on the air, please note the time and station.