Monday, April 19, 2010

Chris Dodd and His Never Ending Bailout of Himself

Chris Dodd has a huge never ending and never satisfying ego. As a Connecticut taxpayer he has also done nothing for me economically nor does he really understand our economy as shown by his latest debacle of a financial reform bill. Bailouts or shakedowns of companies going under apparently will be financed by taxes on these companies who will be called in to merge with the financially insolvent company. Those who use these companies will naturally have to pay these taxes meaning you and I the consumer. The new type of bailouts to me will be viewed in political rather than economic terms. Again the bill is massive in length, no one has been able to read through it and it does nothing other than add a new level of regulation with no other purpose than to add more socialism to our economy. Thus what is the point of the new Dodd bill? Economically I do not understand Dodd's logic nor do I understand why he is still representing Connecticut?
Dodd's never ending bailout of himself, the companies that have donated to his campaigns and his unethical behavior mercifully comes to a halt in a few months. This bill represents just another waste of taxpayer's monies by Chris Dodd.

1 comment:

David X Johnson said...

Dodd himself has admitted that his bill “will not stop the next crisis from coming”. He's right about that.

Future crashes are guaranteed unless the government stops letting gamblers loot the tax payers. If they gamble, let them lose their shirt. Risk of loss is the best regulator.

Under Dodd's bill, the government will continue to bankroll the gamblers, bail them out and let them engage in a new round of risky betting, over and over. It's corporate welfare.

Reagan was also right. Government isn't the solution, it's the problem.