Periodically, somebody in Washington makes a statement that is so outrageously removed from reality or contrary to the obvious facts that it becomes the stuff of political legend. Think Bill Clinton’s finger-wagging “I did not have sexual relations with that woman, Miss Lewinsky” or Richard Nixon’s “I am not a crook.”
Now comes Sen. Chris Dodd, D-CN, who offered this gem of analysis when asked by CBS News’ Bob Schieffer on “Face the Nation” whether GM honcho Rick Wagoner should resign: “I think he has to move on.”
Dodd’s statement inspired this outraged comment from Graham Crowe, a very perceptive reader of the Tribune-Democrat of Johnstown, PA:
“Where does Dodd get the temerity to make such a proposition in light of his own incompetence and scandal? Dodd is in charge of the committee that could have kept us from entering the current credit crisis. He’s the same man who is in charge of regulating Fannie Mae and Freddie Mac, and is No. 1 on their list of donations.
“When Congress approved $25 billion to bail out Fannie Mae and Freddie Mac, Dodd denied rumors these firms were in financial crisis. He called the firms “fundamentally strong,” said they were ‘in good shape’ and to ‘suggest they are in major trouble is not accurate.’
“Dodd also received preferential loans from Countrywide Mortgage Bank, and then said he wasn’t aware that he was getting a ‘special’ deal. How is that possible?
“The bottom line is that Dodd received special treatment from a company that he was in charge of regulating and to this day he has refused to release details of those transactions. If Dodd has done no wrong, then why not release the documents and dispel the accusations?
“Just when you think you’ve seen the height of hypocrisy, leave it up to a politician to take it to the next level.”
HT: Glenn Reynolds, Instapundit
UPDATE: Detroit is Broken but Fiat is Making a Profit?
Kevin Rennie of the Hartford Courant sees important lessons from Fiat for America in the current Detroit bailout mess, and an awkward parallel with Dodd and Countrywide:
“It’s been six months since Sen. Christopher Dodd, one of the authors of this fiction bill, pledged to release the approximately 100 pages of documents related to his sweetheart mortgages with Countrywide Financial.
Dodd’s woven many tales of why he can’t, won’t or doesn’t need to and never intended to release the documents from deals that will save him tens of thousands of dollars over the terms of the mortgages. The favors Dodd accepted from Countrywide sparked a Senate ethics investigation and may be part of a federal criminal probe into Countrywide’s furtive, sustained campaign for influence in Washington.”
Read the rest here.
