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Did Hedgies lose out on their investment or help dump Dodd?(Dodd $10 million short)
Connecticut Post ^ | 01/06/10 | Teri Buhl

Posted on 01/08/2010 11:27:29 PM PST by TigerLikesRooster

Did Hedgies lose out on their investment — or help dump — Dodd?

January 6, 2010 at 7:02 pm by Teri Buhl

When U.S. Sen. Christopher Dodd (D-Conn.) announced Wednesday he wouldn’t run for a 6th term, folks in the financial world behind the Dump Dodd campaign were rejoicing, but some big name hedgies likely realized they’d just taken a huge loss on their political investment.

Greenwich resident Bruce Rose, founder of Carrington Capital, appears to be the biggest loser. This summer Maurna Desmond of Forbes.com broke the news that the chairman of the Senate Banking Committee was acting as a personal lobbyist for Rose with the Fed.

Rose was having trouble getting Federal Reserve Bank Chairman Ben Bernanke to loosen the terms for his mortgage servicing business, Carrington Mortgage, to borrow from the Term Asset-Backed Securities Loan Facility, or TALF, an important component of the government’s financial bailout plan.

/snip

One top bank analyst who has an ear with the Senate Banking Committee to monitor the progress of Dodd’s regulatory reform bill — one that would take power away from the Fed in its oversight of banks — said a few weeks ago it became clear Dodd just couldn’t raise the funds with the financial services community like he had in the past.

As one distressed debt fund manager said Wednesday, “Everybody knew Dodd was in need of at least $10 million. He went out to the base the past few months, and they yawned.”

(Excerpt) Read more at blog.ctnews.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS: dodd; hedgefund; lobbying; reelection
“Everybody knew Dodd was in need of at least $10 million. He went out to the base the past few months, and they yawned.”
1 posted on 01/08/2010 11:27:30 PM PST by TigerLikesRooster
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To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...

Ping!


2 posted on 01/08/2010 11:32:28 PM PST by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: TigerLikesRooster

Hope all the crooks lost big-time. Dodd has lost and one day it would be nice to try him for treason re his support for the Communist Sandinistas, along with John F*cking Kerry.


3 posted on 01/08/2010 11:41:39 PM PST by ToTheMax
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To: TigerLikesRooster
The big boys fired Dodd.

yitbos

4 posted on 01/08/2010 11:52:06 PM PST by bruinbirdman ("Those who control language control minds.")
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To: nutmeg; Liz; STARWISE; maggief; onyx

ping


5 posted on 01/09/2010 3:22:46 AM PST by hoosiermama (ONLY DEAD FISH GO WITH THE FLOW.......I am swimming with Sarahcudah! Sarah has read the tealeaves.)
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To: hoosiermama; nutmeg; Liz; STARWISE; maggief; onyx; CutePuppy; raybbr; Grampa Dave; ...
Could be the Madoff scam also kiboshed Dodd.

ITEM Robert Blumenthal, the Conn attorney general who is now a candidate for Dodd's seat------is on record asking asked Irving Picard, the court-appointed trustee overseeing Madoff's liquidation, for the names of Connecticut-based victims............... including nonprofit organizations.

ITEM TAX EVASION AND MONEY LAUNDERING Irving Picard, who is ID'ing Madoff's assets, unearthed a labyrinth of interrelated international funds, institutions and entities of almost unparalleled complexity and breadth...... and assets and businesses in 11 places overseas. Madoff was running several scams including a Ponzi scheme: tax evasion facilitation, non-profit money laundering, and a proteciton racket for non-profits and wealthy poeple who were funneling income to Madoff to avoid US taxes, and banking laws.

We need to find out if Lieberman and Dodd got Madoffed. Last July these two colluded to cut federal appropriaitons for Airport Security that would have Last July, Dodd proposed an amendment reducing aviation security appropriations by $4.5M that would have caught the undie bomber in favor of firefighter grants (a move that enriched one of Dodd's financuial backers). The federal money Dodd and Lieberman eliminated was specifically intended "for screening operations and for explosives detection systems."

(REFERENCE SOURCE Posted by maggief) Senators Chris Dodd (D-CT), Joe Lieberman (ID-CT), and Thomas Carper (D-DE) authored an amendment to the Department of Homeland Security Appropriations Act that will provide $10 million more in funding for grants to local fire departments for equipment and training. The amendment, which passed unanimously last night, will ensure $390 million in funding is provided for the (non-profit?Assistance to Firefighters (FIRE) grant program next year. (Excerpt) Read more at dodd.senate.gov)

ITEM Connecticut senators, Joe Lieberman and Christopher Dodd's wives both have offshore financial/business interests. Lieberman’s wife, Hadassah, owns stock valued at between $1,001-15,000 in Tyco International Ltd., according to the senator’s 2003 personal financial disclosure form.. Tyco, formerly based in NH, reincorporated in Bermuda in 1997 to legally reduce its US tax burden.

ITEM Dodd’s wife, Jackie Clegg, served on the board of Bermuda-based IPC Holdings Ltd., a reinsurance company controlled by AIG, according to Dodd’s 2003 Senate disclosure form. The company’s offshore location allows a US firm that is a major shareholder in IPC Holdings to avoid paying some federal taxes. The senators say there is no inconsistency between their public positions and their wives’ financial or business dealings.

ITEM March 23, 2009----- Dodd went wobbly when he was 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. (SOURCE Real Clear Politics by Kevin Rennie)

6 posted on 01/09/2010 4:40:06 AM PST by Liz
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To: Liz

Looks like Mr & Mrs Dodd are both dirty. ;-)


7 posted on 01/09/2010 4:56:43 AM PST by stephenjohnbanker (Support our troops, and vote out the RINO's!)
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To: Liz
The GOP is going to be veeeery busy investigating these mutts when they take congress back in Nov. And when they find the hard evidence of criminal activity the U.S. AG better act on it by appointing a Special Prosecutor or his sorry behind will be on the block too. Holder's obfuscation in protecting 'Barry's Homies'(1) can only go on for so long.

What the RATS did to Alberto Gonzalez will seem like a Girl Scout tea party in comparison. I can envision Rep Dan Burton interviewing a Staff of 50 right now just for Holder :-)

(1) Insult intended!

8 posted on 01/09/2010 5:02:09 AM PST by Condor51 (The difference between stupidity and genius is that genius has its limits [A. Einstein])
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To: Condor51
The GOP is going to be veeeery busy investigating these mutts when they take congress back in Nov. And when they find the hard evidence of criminal activity the U.S. AG better act on it by appointing a Special Prosecutor or his sorry behind will be on the block too. Holder's obfuscation in protecting 'Barry's Homies'(1) can only go on for so long.

Remembering Sen. Pothole's hearings on Whitewater in 1995, I don't see much of anything happening to punish anyone.

9 posted on 01/09/2010 5:12:15 AM PST by Roccus (ABLE DANGER?????...................What's an ABLE DANGER???)
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To: Condor51; stephenjohnbanker
The GOP is going to be veeeery busy investigating these mutts when they take congress back in Nov.

The investigations list keeps getting longer and longer.

Thank God we have FR as a reference source---the evidence the GOP needs is all here, chronicled in minute detail.

10 posted on 01/09/2010 5:31:43 AM PST by Liz
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To: Roccus
*** Remembering Sen. Pothole's hearings on Whitewater in 1995, I don't see much of anything happening to punish anyone. ***

No offense but I don't know who 'Sen. Pothole' is.
And I was talking about the House not the Senate.

In the House the Majority Party gets things done, that's how their rules are set up. In the senate they deliberate(1), blow a lot of hot air, and *almost* anything can get stopped or held up by one Nay from the minority party.

(1) The US Senate: "The Greatest Deliberative Body In The World."

11 posted on 01/09/2010 5:32:08 AM PST by Condor51 (The difference between stupidity and genius is that genius has its limits [A. Einstein])
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To: Liz
*** The investigations list keeps getting longer and longer. ***

Yep, basically one for every Democrat Rep and Senator, and every member of Barry's Administration Street Gang including the Gang leader.

*** Thank God we have FR as a reference source---the evidence the GOP needs is all here, chronicled in minute detail. ***

FR 'prolly' has as much data archived on these criminals as the Library of Congress. And a good portion of that data is provided by, you :-) .. Where you dig up some of this stuff is astounding.

12 posted on 01/09/2010 5:48:44 AM PST by Condor51 (The difference between stupidity and genius is that genius has its limits [A. Einstein])
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To: Condor51

Sen. Pothole was Al D’Amato and I was refering to investigations (as stated in your post #8), not legislation.


13 posted on 01/09/2010 5:56:50 AM PST by Roccus (ABLE DANGER?????...................What's an ABLE DANGER???)
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To: Liz; hoosiermama
References:


How politics works: Senator Christopher Dodd and his cosy Irish cottage


Dodd’s Wife a Former Director of Bermuda-Based IPC Holdings, an AIG Controlled Company


CHRIS DODD'S OTHER PROBLEM (why is everybody always picking on Dodd?)


Dodd to Treasury?


Dodd, Lieberman, Carper Amendment Adds $10 Million for Fire Grants-$4.5M “Aviation Security” CUT!!!

14 posted on 01/09/2010 6:02:01 AM PST by maggief
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To: All

http://mortgage.freedomblogging.com/2009/08/04/loan-servicer-says-foreclosure-rescue-plan-is-costly/14901/

Subprime servicer says Obama foreclosure-rescue plan is costly
August 4th, 2009, 2:00 am · 28 Comments · posted by Mathew Padilla

At least one loan servicer is going public with this simple fact: doing loan modifications costs it money while the deals are worked out.

Up until now, in every press report I have seen, servicers have either been silent on the issue or said they would work to modify more loans and cooperate with government efforts to prevent foreclosures.

Of course, the servicers normally promising a stronger effort are the ones tied to retail banks. They are highly visible companies.

But late last month Reuters had an interesting quote from Bruce Rose, a former Salomon Brothers bond trader and currently CEO of Greenwich, Connecticut-based investment firm Carrington Capital Management, which owns loan servicer Carrington Mortgage Servicers in Santa Ana. “We are in a position where it’s a very tough balance act, and that’s weighing heavily on us now. This is a classic case of an unfunded government mandate.”

The problem: as a servicer spends time fixing delinquent mortgages it must keep making payments to investors as required by the servicing contract.

According to Reuters, Carrington is part of the Independent Mortgage Servicers Coalition, an alliance of companies servicing many of the riskiest mortgages made during the housing boom. They collect payments on more than $700 billion in loans. Here’s more:

The costs of borrowing to finance delinquent payments to bond investors far outweigh expected revenue from incentives paid by the government, Rose said. The government will pay servicers $1,000 for every loan modified, and another $1,000 a year for three years if the borrower stays current.

Until recently I never saw Rose give an interview to anyone. He has been media shy since he founded Carrington in 2003. Here’s a little background on the company from a Bloomberg story:

Carrington began one of its funds with $25 million from New Century Financial Corp., then the U.S.’s second-biggest subprime lender, the mortgage company said in Securities and Exchange Commission filings. The hedge fund bought the lender’s loans, packaged them into bonds and sold all but the riskiest tranches, the company said.

The firm did the same with subprime loans from other lenders, including H&R Block Inc.’s Option One, according to bond filings.

After New Century failed in 2007, Carrington bought the Irvine, California-based company’s servicing business for $188 million, giving it more control over loans backing bonds it owned or might buy.

In related news, Ohio Attorney General Richard Cordray and that state’s Department of Commerce sued Carrington, alleging it did not follow completely a pact with the state to offer loan modifications to borrowers, according to business journal Business First of Columbus. Here’s more:

Carrington in January 2008 signed a pact with the state to resolve a dispute tied to previous litigation against bankrupt mortgage lender New Century Financial Corp. … Later in 2008, Carrington was among nine mortgage servicers that signed a non-binding agreement with the state for “substantial and large-scale” modifications to help Ohioans facing foreclosure stay in their homes. Cordray said the lawsuit filed in Franklin County Common Pleas Court alleges Carrington didn’t give borrowers workout terms that sidestep foreclosure and didn’t respond to complaints in a timely manner.

Carrington, in its own release, said, “Carrington remains single-mindedly committed to helping homeowners throughout this difficult economic cycle and has modified loans for approximately half of its customers, the vast majority of which are now back on track and remain in their homes.” And, “We regret that the Ohio Attorney General has declined our offer to continue to work constructively to help homeowners and has instead chosen to pursue meritless litigation against the company.”

//

http://www.forbes.com/2009/08/28/dodd-carrington-capital-business-wall-street-dodd.html

Lobbying
How Dodd Helped A Troubled Hedge Fund Fight For Help

Maurna Desmond, 08.28.09, 02:30 PM EDT

With the assistance of Sen. Christopher Dodd, Carrington Capital lobbied hard for Fed money and came up empty-handed. Now what?

When staffers at the Federal Reserve received a letter from Sen. Christopher Dodd, D-Conn., in early August saying mortgage servicers were concerned that the terms for access to Fed loans were too onerous, some of them were taken aback.

“Independent servicers argue that the terms of the TALF [Term Asset-Backed Securities Loan Facility] advances are not economically viable,” Dodd wrote to Fed Chairman Ben Bernanke. “As a result, a number of independent servicers may not be able to continue modifying loans.” He goes on to ask Bernanke for his “views on the matter.” (Read Dodd’s letter here.)

The officials were surprised by the senator’s Aug. 7 letter because it followed an eight-month lobbying campaign by a handful of mortgage servicers and benefited one firm more than any other: Carrington Mortgage, a division of Carrington Capital, a Greenwich, Conn.-based hedge fund. The letter from Dodd, who chairs the Senate Banking Committee, was a rare coup for Carrington, a key player in the subprime mortgage industry, and one that has been attracting the wrong kind of attention lately.

(snip)

//

http://christopherfountain.com/2009/08/31/who-is-bruce-rose-and-carrington-capital/

August 31, 2009...10:22 am
Who is Bruce Rose and Carrington Capital?

Word that this guy and his Greenwich hedge fund are pals of Chris Dodd made me curious to learn more about them. No friends other that Dodd, it would seem, but then, Dodd’has always been willing to be your friend as long as your mommy pays him to do so.

(snip)


15 posted on 01/09/2010 6:21:41 AM PST by maggief
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To: Liz; Molly Pitcher; MeekOneGOP

Thought folks on your ping list might be interested in Liz’s post here.


16 posted on 01/09/2010 6:27:05 AM PST by hoosiermama (ONLY DEAD FISH GO WITH THE FLOW.......I am swimming with Sarahcudah! Sarah has read the tealeaves.)
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To: TigerLikesRooster

“The GOP is going to be veeeery busy investigating these mutts when they take congress back in Nov.”

The Republicans never investigated the Clintons and company
after taking controll in the 90’s. Let’s hope they do better this time.


17 posted on 01/09/2010 8:00:39 AM PST by BeckB
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To: Liz
ITEM March 23, 2009----- Dodd went wobbly when he was 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.

Seems most of the dems are crooks - I wonder why they're going after Dodd... Would he expose the rest of 'em?

18 posted on 01/09/2010 11:26:26 AM PST by GOPJ (You don't have to eat all of a rotten egg to know it's rotten.)
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To: Liz

Fact.


19 posted on 01/09/2010 12:04:25 PM PST by stephenjohnbanker (Support our troops, and vote out the RINO's!)
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To: Liz

Dodd was going to be dead meat in November - in a “blue state” he was losing big to any of the three potential GOP candidates - so Dem leadership (and Obama’s phone call) pushed Dodd out, to avoid primary and defeat, trying to save the seat. Once it became obvious, no one would waste money to give Dodd’s campaign.

Dick “The Integrity” Blumenthal may just pull it off, though he always had his sights set on Governor’s office.

Dems are moving the “familiar faces” around to save what seats they can in Novemeber. They are much better at this than GOP, and have a very deep bench, with different colors of “dogs” - “blue”, “yellow”, “purple” - suited to specific areas...


20 posted on 01/09/2010 7:39:25 PM PST by CutePuppy (If you don't ask the right questions you may not get the right answers)
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To: CutePuppy; stephenjohnbanker; Travis McGee; AuntB; rabscuttle385; mkjessup; Landru; NormsRevenge; ..
What follows is a brilliant insight into Dims crooked modus operandi-----conservatives should heed these words well.....and expose the scheme wherever it surfaces.

CUTE PUPPY POSTED: Endangered Dems are moving “familiar faces” around the country, to salvage whatever seats they can this November. The Dims have different colors of “dogs” - “blue,” “yellow,” “purple” - that they profile to run in specific voting districts.........

Dims are much better at duping the electorate than the GOP. Rahm Emanuel ran Dems who posed as "reverential believers" in solid Republican districts, and they won. He even had Marxist candidate Obama say, "I want to be another Reagan."

21 posted on 01/10/2010 6:14:26 AM PST by Liz
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To: Liz

“He even had Marxist candidate Obama say, “I want to be another Reagan.”

LOL....instead we got allhu akbar.


22 posted on 01/10/2010 6:19:33 AM PST by stephenjohnbanker (Support our troops, and vote out the RINO's!)
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To: stephenjohnbanker

Get them all out.


23 posted on 01/10/2010 6:24:56 AM PST by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: CutePuppy
Dodd was going to be dead meat come November - in a “blue state” he was losing big to three potential GOPers - so Dem leadership (and Obama’s phone call) pushed Dodd out, to avoid a primary and defeat. Once that became obvious, his big backers would not waste money on Dodd’s campaign.

Nice summation. Dodd was in deep doo-doo knowing he could not raise the $10Mill he needed to win. Looks like costly campaigns are biting back Dims...... one instance in which we should all be grateful campaigns are costly.

24 posted on 01/10/2010 6:25:17 AM PST by Liz
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To: Liz; TigerLikesRooster

I noticed the original story at the above link has been “errored”. I guess to much info was getting out.


25 posted on 01/10/2010 6:28:46 AM PST by raybbr
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To: CutePuppy; Liz

“Dems are moving the “familiar faces” around to save what seats they can in Novemeber.”

See also:

http://www.freerepublic.com/focus/f-news/2425092/posts

The spoiler: How Harold Ford Jr. will shake up New York politics


26 posted on 01/10/2010 6:30:18 AM PST by maggief
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To: stephenjohnbanker

Looking back at Ohaha’s campaign, everything he said was a lie.

Thankfully the media latched onto his “transparent healthcare-debate-on-C-Span” lie.


27 posted on 01/10/2010 6:31:25 AM PST by Liz
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To: raybbr
I noticed the original story at the above link has been “errored.” I guess too much info was getting out.

You're too obsessed with "transparency." Wattsamatter----one hour of the 2700 pp healthcare debate on C-Span not good enough for you? (/snix)

28 posted on 01/10/2010 6:36:10 AM PST by Liz
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To: Liz
*** Dims are much better at duping the electorate than the GOP. Rahm Emanuel ran Dems who posed as "reverential believers" in solid Republican districts, and they won. He even had Marxist candidate Obama say, "I want to be another Reagan." ***

Yep, you have to, 'Give The Devil His Due'. Rahm was very slick. He picked off almost every RINO in the House by running a RAT that was ... (cough) ... 'more conservative'. [And Schumer pulled the same trick with senate cadidates.]

A fact which I point out - rather loudly - to to every mope from the RNC, et al, who calls begging for money.

29 posted on 01/10/2010 6:36:29 AM PST by Condor51 (The difference between stupidity and genius is that genius has its limits [A. Einstein])
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To: Liz

That guyat CNN, is it Cafferty? ripped Obama’s head off.


30 posted on 01/10/2010 6:40:16 AM PST by stephenjohnbanker (Support our troops, and vote out the RINO's!)
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To: raybbr
I should have copied the entire article. Must have been too sensitive.
31 posted on 01/10/2010 7:15:42 AM PST by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: CutePuppy; Liz
Dodd was going to be dead meat in November - in a “blue state” he was losing big to any of the three potential GOP candidates...

Maybe it's because he's a resident of Iowa.

Dodd Moves To Iowa, Campaigns To Reach Fourth Place
November 29, 2007 3:26 p.m. EST
Kris Alingod - AHN News Writer

Des Moines, IA (AHN) - Former Connecticut Rep. Chris Dodd has taken up residence in Iowa and decided to spend the most time campaigning in the state than any of his Democratic presidential rivals.

On Wednesday he announced that he would not be attending a Democratic National Committee meeting in Washington scheduled for this week because he had to campaign in Iowa, where caucuses on January 3 open the nominating contests for this election.

The move has so far not had any effect on the poll numbers of Dodd, who has never broken out of the second-tier line-up of Democratic hopefuls since he began his campaign. Despite this, he believes that "the door is still wide, wide open," and he may join top contenders Sen. Hillary Clinton (D-NY), Sen. Barack Obama (D-IL) and former North Carolina Sen. John Edwards as the last of four final candidates for the Democratic nomination.

"The earlier caucus date, particularly the proximity to that and the holiday season is going to add a dimension to this that we haven't really thought about in the past," Dodd said in an interview with the Associated Press. "I think there may be one more, there may be four tickets out."

Dodd's home in Iowa is a 1,700-square-foot, 1929 Tudor filled with artwork by his 6-year-old and 2-year-old daughters.

"This was our opportunity to keep our family together and meet more Iowans," Dodd's wife, Jackie Marie Clegg, told the DesMoinesRegister. "When I was there for six and eight hours in airports and traveling back and forth, you're not meeting as many people as you can meet when you're here. And we can have a home base."

http://www.allheadlinenews.com/articles/7009308516

32 posted on 01/10/2010 7:29:32 AM PST by Libloather (Tea totaler, PROUD birther, mobster, pro-lifer, anti-warmer, enemy of the state, extremist....)
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To: Libloather; CutePuppy; raybbr
Dodd's move to Iowa rankled his base voters more than anything .......and led to his ousting. Dodd was going to be dead meat come November - in the blue state of Conn, he was losing big to three potential GOPers - so Dem leadership (at Obama’s urging) pushed Dodd out, to avoid a primary and defeat. Once that became obvious, his big backers would not waste money on Dodd’s campaign.

Democrats stupidly gave Dodd a big role in healthcare "reform" thinking that would rehabilitate his damaged image.....There is even one laughable quote from Dodd saying he was getting "a whole new voter base" from his role in healthcare reform.

========================================

Course I could be wrong (/snix), but this is probably what led to Dim Dodd being kicked out by the Dem PTB.

Last July, Dodd proposed an amendment reducing aviation security appropriations by $4.5M in favor of firefighter grants (a move that enriched one of Dodd's financial backers). The federal money Dodd eliminated was specifically intended "for screening operations and for explosives detection systems."

AT THE TIME I POSTED THAT ITEM DEC 2009, MY ADVICE TO DODD WAS: "Dodd should pack his bags and leave now, before he's tarred and feathered and run out of DC on a rail."

Dodd was in deep doo-doo knowing he could not raise the $10Mill he needed to win. Looks like costly campaigns are biting back Dims...... that's nice.

33 posted on 01/10/2010 8:00:25 AM PST by Liz
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To: Liz; Libloather
Democrats stupidly gave Dodd a big role in healthcare "reform" thinking that would rehabilitate his damaged image.....

Yep. CT is an insurance and financial services state, filled with many NY and NJ expats. Dodd's eager support and embrace of any and all taxes, mandates, regulations and other "reforms" of insurance and financial industries would hit Conn. big time.

"a whole new voter base" didn't exist and didn't materialize out of thin air, so now "everybody hates Chris".

Dodd may be a resident of Iowa / Connecticut in the same way as ex-Rep. Robert Wexler (D-FL) was a "resident" of Florida 19th district while living in Maryland, where he exempted himself from the income tax by claiming that he lived in Florida.

34 posted on 01/10/2010 12:14:00 PM PST by CutePuppy (If you don't ask the right questions you may not get the right answers)
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To: CutePuppy; Libloather; raybbr; Condor51; Just mythoughts; maggief; GOPJ; hoosiermama
Dodd was a resident of Iowa/Connecticut like ex-Rep. Robert Wexler (D-FL) was a "resident" of Florida 19th district while living in Maryland, where he exempted himself from income taxes by claiming that he lived in Florida.

Two of the most bizarre disappearing acts in politics: Mel Martinez (R-Fla and onetime RNC chef) and Cong Wexler (D-Fla). One day they just decide to quit.

Martizez disappears. Wexler announces he is quitting to head The Middle East Peace Center------yet another Middle East Slush Fund---setup as a tax-exempt "foundation."

Just filling the money laundering void that Madoff created. The bilking of the US Treasury continues.(/snic).

NEED TO KNOW Did then-Cong Wexler vote for (or did he earmark) budget appropriations for The Middle East Peace Center Slush Fund--that included a hefty salary, expense account, travel allowance, and other perks, for himself?

==================================================

BACKSTORY Wexler lived with his family in Maryland and calculatedly used his in-laws’ Palm Beach address to establish Florida residency — in overwhelmingly Democratic Palm Beach. Wexler was elected in 1996 and has NEVER faced a serious challenge. Wexler won a seventh term with 66.2 percent of the vote.

(Sob) I just hope Wexler's wealthy Palm Beach district is not the same wealthy Palm Beach affinity crowd that got wiped out "investing" with Madoff (/sniffle).

Wexler's new job at The Middle East (gag) Peace Center involves Big Bucks US tax dollars. Wexler's job will consist of negotiating a multi-billion dollar price tag for the inevitable photo-ops of phony Peace Pals---Obambi and Bimbiyahoo (in $3500 Armani suits)---shaking hands in the Rose Garden (yawn).

An accounting of the Wexler-types getting wealthy off these peace scams is in order. Most Americans believe these people should be prosecuted for daring to utter "peace" and "Mideast" in the same sentence.

35 posted on 01/10/2010 3:11:40 PM PST by Liz
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To: maggief
Thanks for the link.

Yet another carpetbagger going to New York to make / keep / increase his / her political fortune. Oh well.

Harold Ford Jr. was almost successful in fooling enough people in Tennessee that he is a "charismatic" and "conservative" Democrat in TN Senate race of 2006.

We all should take heed that RINOs from "blue states", including "Maine Sisters" Snowe and Collins, have voted against the passage of Senate ObamaCare bill (after playing some "cooperation game"), while it didn't take much of taxpayers' dough to buy "blue dogs" including Nebraska's Ben Nelson and the "independent" pretender Lieberman. It may be a lesson to show voters in conservative states and districts.

We have about 30 reliable "red states" in the West and South (like Montana, Dacotas, Carolinas etc.) that should have no business electing Democrats (of any "color") to Senate, if only national and state's GOP organizations could get decent candidates which would give Republicans almost filibuster-proof Senate "forever". Even easier is to maintain control of the House and have 30 or more governors.

We, then, would not have to worry about "blue state" RINOS, as they would have little voice, except to keep their constituents happy, but would add enough to the numbers when needed... if we only threw out RINOS and "blue dog" Democrats from otherwise reliably conservative "red" states that need to be cleaned up with new "red" insurgent blood. From these insurgents, just like from class of 1994, may come new Congressional leadership.

That's where the efforts need to be allocated starting this election year. Democrats have been very successful with their Colorado Model - The Democrats' plan for turning red states blue and the Swing State Project.

Republicans, geopolitically and demographically (for now, at least) are in much better position to have this kind of electoral success, if only the current GOP leaders could get off their duffs and get to work recruting and sponsoring the right new people, instead of supporting the usual "good ole' boys".

36 posted on 01/10/2010 3:16:19 PM PST by CutePuppy (If you don't ask the right questions you may not get the right answers)
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To: Liz
(Sob) I just hope Wexler's wealthy Palm Beach district is not the same wealthy Palm Beach affinity crowd that got wiped out "investing" with Madoff (/sniffle).

I feel your pain :-) Yes, his former district includes western part of Palm Beach, which was hit hard by Hurricane Bernie.

An accounting of the Wexler-types getting wealthy off these peace scams is in order.

That's what these "foundations" are for - to funnel money out of government into private coffers of politically connected, and/or launder tax-free or tax-friendly money into political campaigns and other "foundations".

37 posted on 01/10/2010 3:28:37 PM PST by CutePuppy (If you don't ask the right questions you may not get the right answers)
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To: CutePuppy; Condor51
That's what these "foundations" (like Wexler's tax-exempt Peace Center) are for - to funnel money out of government into the private coffers of politically connected.......and/or launder tax-free or tax-friendly money into political campaigns and other "foundations".

Must be nice to be in the "tax-exempt peace business." Gosh, too bad Bernie didn't think of that---he's still be hob-nobbing with all the Palm Beach "philanthropists" instead of occupying a cement cell.

38 posted on 01/10/2010 3:42:42 PM PST by Liz
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