Dodd: Congress Could Defund Consumer Bureau Over Warren Interim Appointment

[mod mom]

Outgoing Senator Chris Dodd (D-Conn.) warned Tuesday that an interim appointment of Elizabeth Warren to head the Consumer Financial Protection Bureau "jeopardizes the existence" of the nascent agency.

The White House is considering naming Warren interim head, as the law establishing the CFPB allows, in order to get her into place immediately and head off a Senate filibuster of her nomination. Once she's in place, Obama could nominate her for the permanent position.

"I'm not enthusiastic about that and I think it'll be met with a lot of opposition," Dodd told reporters after coming off the Senate floor.

Dodd said that an interim appointment would deprive the director of the legitimacy that comes with Senate confirmation. He added that such an appointment could create a backlash that would lead Congress to defund the bureau.

"This is a big job, an important job, and it needs to be -- you've got to build the support for that institutionally or the next Congress - and none of us know what the outcome's going to be politically -- you could gut this before it even gets off the ground. If you don't have someone running it early on, it jeopardizes the existence of the consumer protection bureau," he said. Asked how Congress would gut it, he said: "Money. Take away the money. That's how you always do it."

-snip

http://www.huffingtonpost.com/2010/09/14/dodd-congress-could-defun_n_716352.html

Is Dodd just appeasing a future employer? I've been out of the news cycle for a few days & this pisses me off.

[rucky]

1. Sounds like a threat to me.

Also sounds like someone's keeping a seat in the boardroom warm for Dodd.

[blondeatlast]

5. +1. nt

[DirkGently]

23. Yep. Dodd does not walk his talk re: financial institutions. Good

riddance.

[aquart]

2. I'll really miss Dodd.

Like I miss bedbugs.

[AnArmyVeteran]

24. Dodd is corrupt.

[BurtWorm]

3. 'I would like to see Alan Greenspan or Dick Cheney in that position,' Dodd added.

:nuke:

(PS: Dodd didn't really say this. It's the type of thing I imagine him saying.)

[mod mom]

12. or why not Bernie Madoff, he's available?

This is why I'd never vote for any candidate from the Money Party (GOP or DLC) :mad:

[Cleita]

13. Hasn't anyone informed him that Dick Cheney is

probably a vegetable today and Alan Greenspan has admitted his economic policies were all wrong?

[daleanime]

4. Translation....

she would look out for consumers(voters) not businesses(the people who have bought our souls!):banghead:

[Supersedeas]

28. it is an odd stance for someone who professes to be looking out for Average Joes

[blogslut]

6. Well, it doesn't matter now

The report that Ms. Warren would be an interim appointee was bogus information spread by some goober @ Fixed News.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x441212

[blondeatlast]

On information FIXED "may have misheard." Dare I say--

intenetionally misheard?

[blogslut]

8. Who knows with those people?

I operate on the principle that everything they say is a lie.

[kentuck]

7. What a tool for the establishment..

Just like his dad.

[asdjrocky]

9. Dodd may as well not be a Senator any more.

It's been very clear that he works for the interests of Wall St and Banksters only.

[Enrique]

10. wow, I like Warren even better now

:thumbsup:

[MBS]

11. well, this leaves no dooubt that he actively opposes her

appointment. There must be some sordid backstory to this. . this is not a shining moment in his career, IMHO. One would have hoped that he would have aimed for a departure on a more noble note. Very, very disappointing.

[BonnieJW]

16. Did you see Michael Morre's "Capitalism"?

Dodd is implicated pretty definitively as accepting favors from the banking industry. He's dirty and it's about time he steps down. Kent Conrad is in there too.

[laughingliberal]

14. The most blatant sucking up to a future employer I've ever seen. nt

[mike r]

15. All the more reason to appoint her

and the hell with Dodd.

[Pirate Smile]

17. OMG. Just go the hell away, Dodd.

[Dawson Leery]

18. As someone from CT, I will tell you that Dodd

has had his head up the ass of the insurance industry for the past 30 years, since Hartford is home to many insurance companies. Now, he has become blatant in his whoring himself for the industry. Not surprisingly, his father was brought down due to corruption too.
Countrywide Chris as he is known, did receive special deals from Countrywide in return that he oppose any investigation into their shady dealings.

[mod mom]

21. seems his presidential run was largely financed by investment industry:

-snip

This is, of course, the same Chris Dodd who was Chairman of the Senate Banking Committee beginning in 2007, when the banks began their meltdown. He was the one who received the most campaign cash of any senator from Fannie Mae and Freddie Mac, two companies that he defended against increased regulation that might have actually tempered some of the disaster that has followed. He was the one who spent a huge chunk of 2007 not in the Senate, but on the campaign trail, carrying out a lackluster presidential effort funded largely by the banking and insurance industries. According to the Center for Responsive Politics, Dodd raised $8.3 million for his presidentical campaign; $4.3 million came from the securities and investments industry. His top contributor was Citibank. His fourth largest contributor was the now-collapsed firm, AIG, a major purveyor of the complex derivitives that helped cause the crisis. He was also the one who in 2007 went before the U.S. Chamber of Commerce to praise the "history of solid regulation" in the U.S. capital markets. "Win or lose, invest with a high degree of confidence that American balance sheets are accurate, that investment products like securities and derivatives are properly valued, and that the markets are well-policed against those who would commit negligent, deceptive, or fraudulent acts," he said.

Read more: http://swampland.blogs.time.com/2009/02/12/chris-dodd-financial-savior/#ixzz0zWqtcM3q

[global1]

19. Dodd Can't Be Gone Fast Enough.........

I'm glad he's going to be leaving - but not soon enough.

[OHdem10]

20. With Democratic friends like Dodd who needs enemies.

Dodd is leaving a bad taste all around:::

[mod mom]

22. I really wish someone from his office would read these & other Dem comments

and advice him he's rich enough and just further damaging his reputation/legacy.

[Individualist]

25. Not surprising since Dodd was (is?) a DLC member

Since DLC has kept their membership under wraps for several years, I don't know if he's still a member or not. I'm guessing he still is on the basis of the OP.

http://www.democraticunderground.com/discuss/duboard.php?az=view_oet&address=358x3027

[pansypoo53219]

26. going out like a turd

instead of a statesman.

[spanone]

27. what is mr dodd afraid of?