Dodd Visits Trinity, Talks Finances

Democratic Senator Chris Dodd of Connecticut kicked off his "Connecticut Banking on Change" campaign at the Smith House on Friday, March 20. Hoping to educate his constituents about the predatory practices sometimes used by credit card companies, Dodd indicated that he hoped new legislation would be passed at the state and federal level to help protect credit card holders.
Dodd has already introduced a bill to Congress called "The Credit Card Accountability Responsibility and Disclosure Act" that would lead to stricter oversight of the credit card industry as a whole. The legislation would particularly safeguard young adults by requiring credit card seekers under the age of 21 to use applications with a parent signature, demanding applicants to prove they have the means to pay off their bills or have completed a literacy competency course, and limiting pre-screened offers of credit to people under 21.
Calling practices used by such companies a "disgrace", Dodd, in his capacity as Chairman of the Senate Banking Committee, has overseen over 80 hearings on the ramifications of the economic crisis, including the credit card industry.
In addition to his work in the arenas of banking and finance, Dodd and has worked with Senator Joe Lieberman in dolling out more than $24.5 million in funding for energy efficiency and conservation projects from the American Recovery and Reinvestment Act.
Dodd claims that the funding will be used to help the state decrease their carbon footprint and boost energy efficient technology at the local level.
Also of note is Dodd's announcement on Tuesday, March 24 that Bradley International Airport will receive $8 million from the Transportation Department for repairs. The funding was given as part of the economic recovery package and will help recover the main runway. Given that Bradley is Connecticut's primary airport, and the second busiest in New England, it is hoped the funding will create jobs and limit congestion.
Up for re-election in November 2010 for his sixth term, Dodd has already kicked off an intense grassroots campaign headed by Jay Howser, who has led successful campaigns for other members of Congress. Though easily winning his last five elections, Dodd is under fire in both Connecticut and Washington D.C. for his role in the American International Group (AIG) bonus scandal and an ongoing investigation by a Senate ethics committee into whether or not the Senator used his role as Chairman of the Banking Committee to receive special privileges.
In addition to those controversies, Dodd's 2007 presidential bid in Iowa was a failure and he has already been criticized in the past for abusing his position on behalf of his friends. In particular, as pointed out by Ken Dautrich in an article republished in The Hartford Courant on Sunday, March 29, Dodd was able to get a presidential pardon for a friend convicted of insider trading back in 2001.
It was his involvement with the AIG bonus controversy that garnered Dodd his most recent unflattering press. After receiving billions of dollars in bailout, AIG awarded $165 million in bonuses for a number of their senior employees.
In the face of public outrage, Dodd first publicly denied questions that he had helped ease the restrictions on bonuses in the recently passed economic stimulus bill, saying, "This is another outrageous example of executives - including those whose decisions were responsible for the problems that caused AIG's collapse - enriching themselves at the expense of taxpayers. A car mechanic or teacher in Connecticut shouldn't have to subsidize the bad decisions of these executives." Dodd later admitted he had in fact been involved with the outcome of the amendment.
Realizing that for the first time in recent history there is a decent shot at having a competitive race against a democrat in a typically blue state, the Republican Party has selected former Congressman Rob Simmons to run against Dodd.
In an early look at the possible 2010 race, Quinnipiac University predicted as of Tuesday, March 10 that Dodd would get 42 percent to Simmons's 43 percent. Polling by Quinnipiac indicates that Connecticut voters approve 49 to 44 percent of Dodd's job.
Quinnipiac University Poll Director Douglas Schwartz stated publicly that, "These numbers have to worry Sen. Christopher Dodd. Former Congressman Simmons is not well known outside his district, yet he is running neck and neck with Dodd at this point [.] The good news for Dodd is that this is the first poll in a long time where Dodd's approval hasn't dropped. It appears that Dodd's slide may have ended."
Two issues that may sway voters one way or the other as the election draws closer are that of decriminalizing marijuana and legalizing the sale of liquor on Sundays.
When asked if "low-level users" of marijuana should face punishment similar to those who violate traffic laws, voters agreed 58 to 37 percent. Democrats, Republicans, and Independents of every age group approve of decriminalization.
Voters approve of legalizing the sale of liquor on Sundays 54 to 44 percent. There is a gender gap on the issue, however. Men agree 62 to 37 percent, whereas women disagree 50 percent to 48 percent. Men and women both oppose the sale of wine and hard liquor in grocery stores.