Chris Dodd really needs to get elected out of office

Now we know why he supported AIG so much...

No wonder Senator Christopher Dodd (D-Conn) went wobbly last week when asked about his February amendment ratifying hundreds of millions of dollars in bonuses to executives at insurance giant AIG. Dodd has been one of the company's favorite recipients of campaign contributions. But it turns out that Senator Dodd's wife has also benefited from past connections to AIG as well.

From 2001-2004, Jackie Clegg Dodd served as an "outside" director of IPC Holdings, Ltd., a Bermuda-based company controlled by AIG. IPC, which provides property casualty catastrophe insurance coverage, was formed in 1993 and currently has a market cap of $1.4 billion and trades on the NASDAQ under the ticker symbol IPCR. In 2001, in addition to a public offering of 15 million shares of stock that raised $380 million, IPC raised more than $109 million through a simultaneous private placement sale of 5.6 million shares of stock to AIG - giving AIG a 20% stake in IPC. (AIG sold its 13.397 million shares in IPC in August, 2006.)

I think she should be forced to give all her money back she got from AIG just like the 20 executives who were basically forced by death threats to give back their bonuses.

Dodd finally admits responsibility for the AIG bonus loophole

He had been denying if for the last few days even though he was the one who put the amendment in the bail out bill. Hopefully the media will actually report this and bash him like they would if a Republican had done this. But I know that is wishful thinking.

Senate Banking committee Chairman Christopher Dodd told CNN’s Dana Bash and Wolf Blitzer Wednesday that he was responsible for adding the bonus loophole into the stimulus package that permitted AIG and other companies that received bailout funds to pay bonuses.

Hopefully Rob Simmons can use this against Dodd when he runs against him.

Chris Dodd will have an opponent this year

Former Rep Rob Simmons said he will be running against Chris Dodd.

Former Republican Rep. Rob Simmons said Sunday that he plans to run against Democratic Sen. Christopher Dodd.

Simmons said he made the decision to join the race after talking with relatives.

"The family had a long meeting today and was unanimous that I run," he said in an e-mail message to The Associated Press. "So I am running."

Simmons is a former state representative and CIA agent who served three terms in Congress representing Connecticut's 2nd Congressional District. He also served as the state's business advocate, but state deficit problems recently eliminated that office from the budget.

In a hypothetical 2010 matchup, a recent Quinnipiac University poll showed Simmons with 43 percent of the vote and Dodd with 42 percent.

This is another candidate we should support and donate to. Chris Dodd is an embarassment to the US Senate and should be sent home by the voters.