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Obama praises Dodd at credit card signing ceremony

Burning Giraffe

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The Hill

President Obama went out of his way to praise embattled Sen. Chris Dodd (D-Conn.) Friday while signing major credit card reform legislation at a Rose Garden ceremony.

Dodd, the chairman of the Senate Banking Committee, is a co-author of the credit card legislation but faces a tough 2010 reelection campaign along with charges he has been too cozy with financial institutions.

“I want to give a special shout-out to Chris Dodd, who has been a relentless fighter to get this done," Obama said at a signing ceremony with lawmakers.

“Chris wouldn't give up until he got this legislation passed. He spent an entire career fighting against special interests and fighting for ordinary people, and this is just the latest example,” Obama said.

Does President Obama ever listen to any of the asinine things he says? Chis Dodd and Barney Frank are as cozy with Special Interests as anyone. Dodd was one of the Senators that availed himself of the Countrywide VIP mortgage service. Christopher Dodd and President Obama were the top two recipients of special interest money from Fannie Mae. If people aren't going to see through this bill as a pathetic attempt to save Dodds shriveling campaign, then we're in trouble. I would hate to see Dodd reelected on the basis of President Obama's support. Of course, now we'll get to discover how much power and influence President Obama really does have over the American electorate.
 
Reading your thread title I thought you were praising Dodd. That's why I repeatedly passed this thread by until I decided to give it a look. Finally.
 
Dodd in trouble in home state

The Hill



Does President Obama ever listen to any of the asinine things he says? Chis Dodd and Barney Frank are as cozy with Special Interests as anyone. Dodd was one of the Senators that availed himself of the Countrywide VIP mortgage service. Christopher Dodd and President Obama were the top two recipients of special interest money from Fannie Mae. If people aren't going to see through this bill as a pathetic attempt to save Dodds shriveling campaign, then we're in trouble. I would hate to see Dodd reelected on the basis of President Obama's support. Of course, now we'll get to discover how much power and influence President Obama really does have over the American electorate.

Sen Dodd actually did the right thing with the credit card bill even if it may be an attonement for real or alleged complicity with banking interests. President Obama was correct in his praise for the bill . that another post.

Dodd is being challeneged wiyhin his party and also by Fmr Congressman Simmons (R) who is polling better than Dodd but that isn't exactly a surprise.
 
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Don't debase Card Bill with your hatred for Dodd

The Hill



Does President Obama ever listen to any of the asinine things he says? Chis Dodd and Barney Frank are as cozy with Special Interests as anyone. Dodd was one of the Senators that availed himself of the Countrywide VIP mortgage service. Christopher Dodd and President Obama were the top two recipients of special interest money from Fannie Mae. If people aren't going to see through this bill as a pathetic attempt to save Dodds shriveling campaign, then we're in trouble. I would hate to see Dodd reelected on the basis of President Obama's support. Of course, now we'll get to discover how much power and influence President Obama really does have over the American electorate.

Being from Connecticut I know Dodd, his staff, and his history pretty well since I have worked with groups who met with the senator and his staff. I am not a Dodd fan.

The card was needed since anyone with half a nano of awareness and history will understand that the financial companies who pushed credit cards upon anyone who could breathe are for the most part responsible for the mess. The compnaies used less than transparent tactics to net their victims.
College kids were given cards at the hope that they will pay them off maybe when they get jobs. Since the companies gave cards to people who had a higher than the average finacially sound and responsible peron they ( the lesser ones) defaulted morfe often. The companies built in tricky fees and rules and fines and escallating interest arte which they charged virtually all of us to pay for the volume of people they netted in.

The credit card scheme by the banks and finincial companies was not that must diferent than the sub-prime mortagage scheme that was pulled off the the very people who we have just bailed out.

In fact many of the ones we bailed out were heavily involved in the credit card sub-prime scheme.

Thje credit card scheming companies brought the bill upon themselves.
 
Re: Don't debase Card Bill with your hatred for Dodd

Being from Connecticut I know Dodd, his staff, and his history pretty well since I have worked with groups who met with the senator and his staff. I am not a Dodd fan.

The card was needed since anyone with half a nano of awareness and history will understand that the financial companies who pushed credit cards upon anyone who could breathe are for the most part responsible for the mess. The compnaies used less than transparent tactics to net their victims.
College kids were given cards at the hope that they will pay them off maybe when they get jobs. Since the companies gave cards to people who had a higher than the average finacially sound and responsible peron they ( the lesser ones) defaulted morfe often. The companies built in tricky fees and rules and fines and escallating interest arte which they charged virtually all of us to pay for the volume of people they netted in.

The credit card scheme by the banks and finincial companies was not that must diferent than the sub-prime mortagage scheme that was pulled off the the very people who we have just bailed out.

In fact many of the ones we bailed out were heavily involved in the credit card sub-prime scheme.

Thje credit card scheming companies brought the bill upon themselves.

The people who are responsible are the ones who spent more than they could afford and lived above thier means. While the credit card companys did do some shady crap it is up to the user to understand what they are signing.
 
Re: Don't debase Card Bill with your hatred for Dodd

The card was needed since anyone with half a nano of awareness and history will understand that the financial companies who pushed credit cards upon anyone who could breathe are for the most part responsible for the mess. The compnaies used less than transparent tactics to net their victims.
College kids were given cards at the hope that they will pay them off maybe when they get jobs. Since the companies gave cards to people who had a higher than the average finacially sound and responsible peron they ( the lesser ones) defaulted morfe often. The companies built in tricky fees and rules and fines and escallating interest arte which they charged virtually all of us to pay for the volume of people they netted in.

And none of this gets the consumer off the hook, since they would be just financially fine if they hadn't wanted to own and consume things they could not afford.

Don't tell me I made you steal by making my treasure so shiny :roll:
 
Re: Don't debase Card Bill with your hatred for Dodd

The people who are responsible are the ones who spent more than they could afford and lived above thier means. While the credit card companys did do some shady crap it is up to the user to understand what they are signing.

Precisely. Once people refuse to use credit cards with ridiculous policies, Credit Card companies will have to administer fairer, more user friendly contracts. It's very simple. However, in this case, the government has already taken over banks, insurance companies, and car companies. Why not massive regulations over the credit card companies, universal health care, and complete control over our Energy industries?

Damn Marxists.
 
Reading your thread title I thought you were praising Dodd. That's why I repeatedly passed this thread by until I decided to give it a look. Finally.

Praising bhkad......... for looking. :mrgreen:
 
This bill was a positive move in the right direction. I'd like to see them undo the bankruptcy law that was passed a year or two ago. The credit card company extends too much credit to people who are borderline risks. It's my opinion that if they're going to take the risk of giving 10,000 to someone who is risky in the first place....they get to own some of the consequences of it.

They haven't taken it upon themselves to help the consumer actually pay back the debt, instead they raised the rates. Where's the common sense in that?

The economic and healthcare issues are also part of the credit card problem. As more and more people find themselves out of a job or a lower paying job AND find themselves without healthcare, they're going to use their credit card to pay for the healthcare they receive.

They're also paying for food at the grocery store. Almost every time I go to the grocery store I've been behind people who are using their credit card to pay for food.

I just look around at what's happening and it makes me wonder. Are people really being irresponsible and living beyond their means or are they just trying to survive?

:confused:
 
How eloquent of Obama to use the term 'shout-out'. What is he on TRL?

I guess the teleprompters didn't have 'I would like to given special thanks and recognition to Senator Dodd...' typed in yet.
 
Moderator's Warning:
Title changed to match title of news story in OP. Please remember to follow breaking news rules.
 
The Hill



Does President Obama ever listen to any of the asinine things he says? Chis Dodd and Barney Frank are as cozy with Special Interests as anyone. Dodd was one of the Senators that availed himself of the Countrywide VIP mortgage service. Christopher Dodd and President Obama were the top two recipients of special interest money from Fannie Mae. If people aren't going to see through this bill as a pathetic attempt to save Dodds shriveling campaign, then we're in trouble. I would hate to see Dodd reelected on the basis of President Obama's support. Of course, now we'll get to discover how much power and influence President Obama really does have over the American electorate.

Oh, come off it. When the Republicans were in power, their committee
chairman's got the big contributions to keep regulation down.

The notion that this all happened in the last two years is what's asinine. You are aware that prior to Jan. of 2007 it was the Republicans who chaired these two committees?

Dodd and Frank have done more to reel the banks and market in. Could this legislation have ever gotten written or passed when the Republican's were in power? Think about it.
 
And this legislation was necessary because?

Oh, yeah, because Chris Dodd and Obama are special interest kinds of guys.

Clearly, the free market was perfectly capable of weeding out the unsucessful card users and lenders without any interference from the federal government.

I mean, Joe With No Job gets a credit card some company let him have. Joe can't pay back the loan he's taking out because he's frankly stupid, and Joe's credit history is shot for a while.

The credit card company loses money when Joe goes bankrupt.

OH! I see! THIS legislation is "necessary" because Gaffin' Joe Biden, Senator of Special Interest to all the banking and finance companies home-stated in Delaware, just wasn't influenced by them at all when those companies DEMANDED changes in the rules to make it almost impossible for the fish name Joe they caught to file bankruptcy and get off their hook.

So now Senator Doddly-Do-No-Right has changed the rules making it more difficult for the credit card companies to charge fees on the bad users, and easier for them to charge fees to the responsible users of their credit cards, and everyone is supposed to sing Rosannas (I believe that's a song by Toto) in praise of The Messiah and his arch-angel Doddly.

Yea! Team! Screw those responsible Americans! Yeah!

The most important thing patriotic Americans can do is pay their credit cards down to zero, and destroy them, and then use cash only, and under the table where ever possible, to feed the Beasts in Washington and the state capitals as little as possible. Remember also, wear that stupid seat belt and obey all traffic laws to minimize the effectiveness of the Rolling Tax Collectors with Badges.
 
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Dodd and Frank have done more to reel the banks and market in. Could this legislation have ever gotten written or passed when the Republican's were in power? Think about it.

You are referring, of course, to the Dodd and the Frank who contributed more to the collapse of the financial industry than any other seated Congressman or Senator, right?

Now you're praising them for making it easier for the credit card companies to punish the people who pay their bills on time?
 
This bill was a positive move in the right direction. I'd like to see them undo the bankruptcy law that was passed a year or two ago. The credit card company extends too much credit to people who are borderline risks. It's my opinion that if they're going to take the risk of giving 10,000 to someone who is risky in the first place....they get to own some of the consequences of it.

They haven't taken it upon themselves to help the consumer actually pay back the debt, instead they raised the rates. Where's the common sense in that?

The economic and healthcare issues are also part of the credit card problem. As more and more people find themselves out of a job or a lower paying job AND find themselves without healthcare, they're going to use their credit card to pay for the healthcare they receive.

They're also paying for food at the grocery store. Almost every time I go to the grocery store I've been behind people who are using their credit card to pay for food.

I just look around at what's happening and it makes me wonder. Are people really being irresponsible and living beyond their means or are they just trying to survive?

:confused:

This bill will do NOTHING except raise the costs to the consumer. Just as any good hearted emotional legislation does; the only ones who REALLY get hurt down the road are the very people this kind of emotionally felt but poorly thought out legislation does.

There's nothing WRONG with USING Credit cards; it beats paying Debit Fees and carrying HUGE amounts of cash or using a check book to pay for items. What is WRONG with them is their improper use by people acting irresponsibly to support a lifestyle they cannot afford.

You cannot “legislate” people’s behavior. All more legislation does is cost citizens more in the long haul and make credit even harder to obtain when they perhaps need it the most.
 
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