Senate Banking Committee Chairman Chris Dodd is the Connecticutt Democrat who got sweetheart loans from Countrywide Financial, one of the biggest beneficiaries of the sub-prime mortgage explosion and a major contributor to the economic crisis that resulted. Dodd promised last July to make public all of the paperwork regarding the loans, but has yet to do so.
Now along comes Sen. Jim DeMint, the South Carolina Republican who with Sen. Tom Coburn, R-OK, is one of the Senate’s most aggressive and determined foes of the earmark-inspired culture of spending corruption that has gripped Congress in recent years. DeMint is joining the banking panel in the 111th Congress.
Sounds like DeMint is looking forward to this new committee assignment:
“I’m excited about the opportunity to fight on behalf of the millions of Americans who want to maintain a strong, free-market economy. The level of government intrusion in our economy over the past year is alarming, and I intend to do everything I can to stop these failed policies.
“Our economy is in distress, but I do not believe our path to prosperity will be found through increasing government spending, withdrawing from the global marketplace, or making it harder to create jobs and attract investment here at home. We must secure America’s prosperity by promoting a sound dollar, expanding our trading partnerships, and making America the best place in the world to do business.
“Free-market capitalism is the most powerful and equitable economic system on the face of the earth and it has created the most prosperous economy the world has ever known. Giving individuals the freedom to create, innovate, and keep the fruits of their hard labor has lifted generations out of poverty and made America the superpower it is today. Yet, our government has attacked economic freedom with higher taxes, mountains of red tape, and out-right takeovers using bailouts and other forms of corporate welfare. These actions have weakened our economy and now threaten our future prosperity and freedom.”
All I can say is, if I was Dodd, I would quit playing games and make all of those Countrywide documents public as fast as possible.
