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I don't know Chris Dodd well, but have always liked him quite a bit. I appreciated his advocacy on behalf of children, on civil rights and civil liberties, and on many other important issues. I thought he was a great DNC chair back in the '96 cycle. I knew that his closest friends on the Hill were Ted Kennedy and Rosa DeLauro, who have always been two of my favorite people. I thought he ran an honorable and strongly progressive campaign for President in 2008.
But lately, it seems like Chris Dodd has been taken over by a Wall Street pod person. He repeatedly tried to make major compromises to please the big banks in the financial reform bill, saying that the bill could not pass without these changes when in fact the bill got steadily stronger on the floor of the Senate, and the Republicans were always too scared to filibuster it. He has come out strongly against filibuster reform. And now he is mounting a major campaign to defeat Elizabeth Warren, both with public statements (for a while using the filibuster excuse, now just blatantly questioning her ability to do the job) and especially in private. Based on everything I am hearing from insiders at the White House and Capitol Hill, the two people who are most anxious to keep the President from nominating Warren are Geithner and Dodd.
What is going on with Dodd? I am told by extremely good sources that he remains extremely angry with Warren for daring to push back against the compromises gutting the consumer protection bureau, so that at least is one reason. More disturbingly, some are suggesting that he feels like he needs to carry water for the White House on this, so that they have a good excuse not to pick her, although I am more skeptical of that idea because I know there is a strong contingent at the White House that favor her nomination as well as some who oppose. Finally, the DC rumor mills have been ablaze for months that Dodd is looking at a lobbying career when he retires, and as former chair of the Senate Banking committee, he could be in line for some pretty sweet contracts with the big banks.
Whatever the reasons, this is a very disappointing way for someone with an honorable career like Dodd to go out on. I hope he steps back from the dark side.
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