how about some preliminary figures on the contested Senate and House  seats before elecction night.

The genesis of this disaster lies in excessive and careless deregulation of the financial system.  The bail out/rescue plan does nothing except grease the wheels to hopefully get credit moving again.  Protecting consumers and preventing a recurrence must come next.  I applaud Senator Dodd for reminding us of that fact.

Chris Dodd is a big part of the reason we are in this financial mess. Add in Barney Frank for good measure. The Dems missed the boat on this one and it will get worse with the Obama Trauma and Mr.Gaffe in the White House.

Obama's character is so cloudy he might bring rain. His integrity and honesty isn't much either.

Bet on the Rays to beat Boston.

Dodd offering reforms , that is a real oxymoron. He fought reforms for Fannie and Freddie

With all due respect, someone needs to 'reign' in Palin...period.

It's about time Congress puts a boot in somebody's behind besides us consumers.

I agree that credit cards and mortgages are two of the biggest out-of-control areas on main street, but also soaring medical costs that have lead to so many bankruptcies in recent years.

One of the reforms Dodd can make is his resignation., Dodd is #1 in lobbying money recieved from Fannie and Freddie. Guess who #2 is? None other then Barack Hussein Obama. At least it took Dodd 20 years to become number one. Obama got to number two in three years. Between Dodd, Obama, Barney Franks, Chuck U. Schumer, that group is the most responsible for the banking mess of today. When the Republicans tried to change the regulations in 2005, it was this group of misfits that stopped those changes. Dodd even has a sweet-heart mortgage deal that he got for all his favors. The corruptness never stops with the Democrats.

These are EXCELLENT REFORMS

Let's hope Dodd can co-ordinate this with Obama, his experts and maybe Consumers Union and Public Citizen

Hopefully, the 'Maverick' will reach accross the aisle and support these reforms
Maybe he can add a few himself

How about limits on interest rates that Credit Card companies can charge ?

How about controlling when they cna change rates on consumers

We've got a lot of work ahead of us, after the wreckage of the last 16 years of anti-consumer Presidents

And, YES that INCLUDES Dummy W and Slick Willie

They were both leaders in selling out America to the corporate interests


TURN THE PAGE

I'm sure Dodd is in no danger of foreclosure, what with his sweetheart deal from Countrywide.

What a joke, Dodd!  You refused to listen when people were saying there were problems with FM&FM. You and you fellow democrats pushed to give loans to unqualified borrowers.  And, you, Mr. Dodd, got a sweetheart "VIP" rate on your mortgage from countrywide.  Best thing that could happen in this siutation is that you and Barnie Frank would resign. You've made quite enough of a mess out of the housing situation.

There needs to be all kinds of regulations, guidelines and rules set for all banks, Wall St,
anyone getting our taxpayers money.
They have done this to our country and need to
be penalized, stripped of perks, salaries
monitored, and absolutely no retreats, etc.
We are their bosses now and we demand credibility!

good plan by Dodd. Reforming the bankruptcy law allows people to renegotiate their interest rate in their mortage as well as the amound due. this will stablize the economy somewhat because the housing bubble along with a lack of regulation led to this economic crisis. stablizing the housing market and creating jobs can hopefully stimulate the economy.

Chris Dodd and Barney Franks should be fired from their positions. Chris Dodd taking money from Country Wide and then both senators saying Freddie and Fannie were not in trouble. What a joke. Two Democrats that should be put in jail.

   Let us agree that "God" has a sense of humor. Imagine the whole of the world surrounding the "Alamo".....and this one guy in the Alamo trying to "squeeze" "Blood" out of a turnup......and he want's seven-hundred billion, to give it back to you......only in "Texas"......I am sure "you" know this is a land of "Pre-tend".....

Basically, put back most of the regulations that were stripped away.  Amazing we have to relearn all the lessons from 70 years ago.  

Words from an Independent Economist 10/10/2008

“Short run yes, because in long term we all will be died.”

As I mentioned yesterday on my email to MSNBC, the problem we face today in the economic is "TRUST." People stop believe in this government. This problem happened on the watch of this group of people. They blamed the authorities in power for what going on the economy right now. You can find the solutions to this problematic by: i) Stop all transactions in Wall Street for two days to cool off the pressure in the market; ii) Hire a group of independent controllers to audit the balance statement of all banks and financial institutions; The government needs to intervene buy all the bad debts, remove them on the market at the same time invest in some good stocks in those companies; Open the market and inject those stocks on the market and sell them at cheap price to attract investors; The government in the short term need to hire a new team of management for every institution, because the problem of the economic is confidence “TRUST”. No body trusts the same group of people with their money. If not, it will take time to resolve the TRUST problem, and America can go bankrupt. Don’t wait, time is now. Also, the Fed needs to come on TV and talk to our citizen only when the find the solution of this problematic. The Fed needs to silence, because any time they come on TV people are nervous, the stock market is nervous and an anxiety or panic is establish.  

the banking crisis MUST include the average credit card user.  the current pattern of raising the interest rate at will is causing many people to feel like they have no recourse but bankruptcy.  if a CC user adds a charge at 10% - that amount should stay at 10% until that original charge is paid off.  Period. Lots of us carefully plan when we charge.  My budget will be able to handle  X months of  $X extra until this is paid off.  So I can use the card to pay the doctor bill at the ER.  After a month or two the CC company raises the % to 39.9% for no reason (other than greed) what am I to do.  No late payments, no skipped payments, no fault of mine.  Why can they do this??  Congress needs to address this "no holds barred loan-sharking" credit card fiasco.  SOON

Chris Dodd is the problem - sweetheart mortgages from companies he is supposed to regulate. This guy has no credibility on these issues and is a complete joke. Dodd and Barney Frank should do all taxpayers a favor and resign. You wonder why people are sick and tired of Washington?

Where may I find the specifics of Dodd's proposed reforms?  This is the only reference I have seen to credit card reform? Where are the economic "bailouts" and tax cuts for taxpayers who couldn't afford a house to start with? With foreclosures, rents are increasing.  Proposed tax cuts if any are included in itemized deductions.  Without mortgage interest, itemized deductions are not available.  Non-homeowners get an average of $5,000 standard deductions against homeowners with $30,000 itemized deductions.  Non-owners would pay $5,000 more in income tax than a homeowner with the same income.  Is there a contact for Dodd for taxpayers to have input.

Chris Dodd has been one of the most effective senators to date. I liked him even in the presidential primary, but I suspected that he would not win, though I thought he would make a terrific vice president [and still do]. But now I see that the best place for him is right where he is at so that he is able to shepherd reforms Through the congress and to keep a wary eye on the crooks in Washington. Great job, Chris, and good wishes to you in the next administration.

It is laughable that some so closely related to the corrupt practices of Washington insider politics should be in charge of badly needed reform on the oversight & regulation of financial industry. Sen. Dodd is partly responsible for the lax regulation of Fannie & Freddie, applying in concert with other prominent Democratic politicians like Rep. Frank pressuring those institutions to pursue risky ventures that eventually sank them, and has gotten a deal on his house that a normal citizen would never get.  

It's true we need to hold off on the foreclosures. We also need to clean up the senate and congress.Term limits would be a start.

Chris Dodd?  The Chris Dodd who received waivers of loan fees of $60-$70,000 on mortgages with Countrywide as a "Friend of Angelo", that Chris Dodd is going to offer more lending reforms.  

How about as an alternative he be put under oath and questioned about his complicity in the mortgage loan meltdown that is a primary cause of the financial disaster we've just experienced?  Would that be asking too much?  Get real.  

I hope whatever reforms are offered will include some type of requirement on mortgage lenders that if they receive "rescue" funds in whatever form they must allow financially distressed homeowners to modify their mortgages, not make it discretionary other legislation has.  I represent many such homeowners and the lenders all require that a borrower must be delinquent in their mortgage payments before they will even talk to them to renegotiate or modify their existing mortgages and then to no avail.  These homeowners are not cheats or greedy but people who have been victims of greedy mortgage brokers and lenders.  They are regular working people who have hit financial hard times and are embarassed by their current position.  Their sense of right is to contact their lenders before they can't make their payments to see if the lenders will agree to work with them to make their payments more affordable.  Lenders on the other hand won't even talk to them until they are delinquent at least 60-90 days.  It seems counterproductive for lenders who are in financial difficulties to not want to work with someone who will continue to make payments.  It seems lenders are more inclined to foreclose than to work with borrowers and keep an income stream albeit less profitable but still profitable.  I believe this is part of the mentality that has led to the financial institution meltdown.  I  just wish someone with hands on practical experience would be included in addressing these concerns.

The creator of this mess chimes in with more of his wisdom....what.... he wants more money for credit card reform, bankruptcy reform, and predatory spending?
Where is the personal accountability? Ohh thats right, its not my fault! Its got to be those banks, credit card companies and those evil loan officers who make people sign the dotted line.

So Mr Dodd we have nothing more to give YOU to spend.

People its your own fault, quit asking for money and quit asking the government to help you when you screw up.

Who's going to reform Dodd.  He should be brought up under theft by ignorance charges.  But, I forgot, he thought it was just perks he'd earned.  You go Chris.
We got em boys.  Bin-Ladin/Biden 08'

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