Tuesday, September 01, 2009

HuffPo and Caligiuri seem to agree that Dodd should remain as Banking Chair

US Senate hopeful Sam Caligiuri has called on Senator Chris Dodd to remain the Chairman of the Banking Committee, rather than moving to the Health, Education, Labor & Pensions (HELP) Committee. And depending how the Senate Chess Game plays out, The HuffPo may agree with state Senator Caligiuri.

Ryan Grim reports on Dodd's possible successor as Banking Chairman (Tim Johnson, SD) and how banks may be treated in the future:

As irritating as Dodd can be, carrying their water for years, he's better than Johnson," said another advocate who wouldn't speak on the record for fear of alienating the soon-to-be chairman.

On the flip side, Grim also reports that Senator Johnson opposed the Bush / Bernanke / Paulson / Geithner $700 billion bailout for Wall Street. So he's got that in his favor.

Personally, I think Dodd should give up his Banking Chairmanship because he simply doesn't understand banking and money. And monetary policy is simply too important to be left untended.

Since the bailouts began with Bear Stearns in March 2008, it's been obvious to me that Senator Dodd was not the right person to Chair the Banking Committee. My guess is that even if I disagree with Dodd's goals, he could add some value on the HELP Committee. I think he should make the switch.

Tim White

No comments: