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Why would the Democrats have Chris Dodd-a chief contributor in the financial crisis- to write finance reform?

From the fall of 2008 through early 2009, the United States government spent nearly $170 Billion to bailout the failing insurance giant, AIG. AIG then spent $165 million of this money to hand out executive “retention” bonuses to its top executives. Public outrage ensued over this apparent misuse of taxpayer dollars.

Speaking of Dodd.

Obama Creates Permanent Tax-Payer Bailout Of Goldman-Sachs, Calls It “Wall Street Reform Bill”.

Ironically, at the same time the SEC is seeking justice for Goldman’s alleged victims, President Obama and Senate Banking Committee Chairman Chris Dodd (D-Conn.) are pushing a bill would reward the firm with potentially billions of dollars by instituting a so-called “resolution authority” that would, in practice, be a permanent bailout fund.

http://patdollard.com/2010/04/obama-creates-permanent-tax-payer-bailout-of-goldman-sachs-calls-it-wall-street-reform-bill/

Take a couple of minutes to read the info at the link you might be surprised to see what is really going on.

ACORN caused mortgage crisis and bailout

60 Minutes – The Bailout (September 28, 2008) $17.95 Airdate: 9/28/2008 Congress is working on the controversial $700 billion bailout of the national economy, and a lot of Americans are angry about it. But Secretary of the Treasury Hank Paulson says this emergency – including the failure of the nation’s largest insurance company and a major bank — demands intervention that was once unthinkable. Scott Pelley interviews Hank Paulson, a fo…

Bill Moyers Journal: Inside the Banking Crisis – An Anthology $114.99 Since the first rumblings of the subprime mortgage meltdown, Bill Moyers Journal has stayed on the story of the economic collapse. This anthology provides a selection of Journal segments from June 2007 through May 2009 featuring economists and other experts who provide powerful insight into the roots of the crisis stimulating a crucial national dialogue on its causes, effects, and possible solutio…

$700 Billion Bailout: The Emergency Economic Stabilization Act and What It Means to You, Your Money, Your Mortgage and Your Taxes $0.01 The book is an analysis of the controversial Emergency Economic Stabilization Act and explains in easy to understand language what the bailout bill means for individuals. $700 Billion Bailout answers questions such as:What does the bill say, exactly?Who is making decisions about how the $700 billion will be spent, and what does it mean now that the government is investing directly in our banks?Who…

Autopsy on a Bubble: The Complete Bibliography of the 2008 Credit Crisis A. Descriptive History of Crisis: Complete Timeline of Events (When, Who, Where, What, Why, and How).B) Interpretive History of Crisis: All Books About Companies, Decisions, Events, People and Prospects Associated with Crisis (published by academics, consultants, economists, executives and journalists)….

The Bailout Shame $7.79 Eight to ten million families are on the verge of losing their homes today. 14. 7 million Americans are unemployed 510.2 Trillion of hard-earned savings have been lost Businesses are closing their doors. What caused all this economic misery? Greed Insatiable greed On the part of banks who preyed on the working poor by abusing them through their pernicious but highly profitable credit card businesses. Then they created and sold unconscionable high interest adjustablerate "stated income" mortgage loans to the working poor. To further add to their profits they engineered bought and sold mortgage backed securities and bonds. Finally to protect themselves from possible losses they devised sold and bought "credit default swap" insurance policies. When their working poor victims could not longer pay their suddenly unaffordable mortgage payments the banks mercilessly foreclosed on them. With dwindling mortgage payments coming in Wall Street disintegrated In 2008 the $700 Billion Bailout came to its rescue. But out on Main Street distressed homeowners received not a single cent of the bailout money. By 2009 the 52 Trillion Financial Stability Plan allotted a mere 575 Billion to help homeowners being foreclosed on. This is the ugly face of the Bailout Shame. But there is hope. It lies in the implementation of the pragmatic and speedy Mortgage Bailout Plan and the Job Creation Bailout Plan outlined in the book.

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