Barack Obama

Day By Day October 24, 2009 – Call It

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Day By Day by Chris Muir

The Country-Wide and Senator Chris Dodd scandal are symptoms of a “culture of corruption” that infects the Democratic Party. Now, that the Democrats have super-majorities in the Congress, the scandals are only magnified – as more banks fail.

Indeed, Senator Chris Dodd may be sent packing from Washington in 2010, despite President Obama’s fundraising for him but the damage to our financial institutions will continue to sink the economy for many years.

Where was the four estate press?

Where were the Republicans?

Talk about malfeasance or would you call it misfeasance?

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Chris Dodd

Poll Watch: Senator Chris Dodd Falls Way Behind Chris Simmons in 2010 Senate Race

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Former Rep. Rob Simmons (R) is challenging Sen. Chris Dodd (D)

Incumbent, long time Connecticut Democrat Senator Chris Dodd is behind by 16 points to Republican Rob Simmons in the latest Quinnipiac poll.

A new Quinnipiac poll shows Sen. Christopher Dodd (D-CT) now trailing former Rep. Rob Simmons (R-CT), 50% to 34%, in the 2010 Senate race.

In two other match ups, Dodd trails both Sam Caligiuri (R), 41% to 37%, and loses to Tom Foley (R), 43% to 35%.

Key finding: Voters disapprove 58% to 33% of the job the Democratic incumbent is doing, his lowest approval rating ever.

Said pollster Douglas Schwartz: “A 33% job approval is unheard of for a 30-year incumbent, especially a Democrat in a blue state… Dodd’s numbers among Democrats are especially devastating.”

Exit questions: Will the Connecticut Democrat Party force Chris Dodd out before primary season? Ned Lamont?


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AIG

Senator Chris Dodd’s Wife, Jackie Clegg Tied To AIG

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Sen. Christopher Dodd, D-Conn., right, dances and jokes with Russert, left, as they watch Dodd’s younger daughter Christina, 2, second from right, dance after a taping of “Meet the Press” Oct. 28, 2007, in Washington, when Dodd was running for president. Dodd’s wife, Jackie Clegg, and older daughter Grace, 6, are shown in the middle

This revelation certainly will NOT help Senator Chris Dodd, U.S. Senate Banking Committee Chairman in the polls back home in Connecticut as his re-election campaign begins.

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.)

Clegg was compensated for her duties to the company, which was managed by a subsidiary of AIG. In 2003, according to a proxy statement, Clegg received $12,000 per year and an additional $1,000 for each Directors’ and committee meeting she attended. Clegg served on the Audit and Investment committees during her final year on the board.

IPC paid millions each year to other AIG-related companies for administrative and other services. Clegg was a diligent director. In 2003, the proxy statement report, she attended more than 75% of board and committee meetings. This while she served as the managing partner of Clegg International Consultants, LLC, which she created in 2001, the year she joined the board of IPC. (See Dodd’s public financial disclosure reports with the Senate from 2001-2004 here.)

But, look at this chart of her further business dealings as the wife of a powerful United States Senator.

jackie-clegg-dodd

There will be lots of ‘plaining to do by the Senator and his wife regarding their personal and professional relationships with numerous concerns, including the failed AIG, doing business with the federal government.

And, Senator Dodd thought that his Countrywide Financial political loan scandal was his ONLY problem.


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Barack Obama

Day By Day by Chris Muir March 20, 2009 – Economy – Trading Needed

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Day By Day by Chris Muir

Senator Chris Dodd and President Obama have received $ hundreds of thousands in political contributions from AIG and other financial sector firms.

Fancy that.

Now, Treasury Secretary Timothy Geithner and Dodd are involved in a CIRCULAR FIRING SQUAD as each take pot shots at each other casting blame over the AIG Bonus fiasco. In the meantime, Senator Dodd is cratering in re-election polls in Connecticut and some members of the GOP are calling for Geithner’s resignation.

But, the entire FLAP really is a smokescreen for MORE government spending.

Kabuki theater indeed.

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