U.S. Senator Chris Dodd may have been out of his element when he spent a year on the campaign trail running for the presidency in 2007 and early 2008. But whatever his shortcomings, word that he will remain in charge of the committee handling insurance is good news indeed for the industry.
The Connecticut Democrat spent perhaps $5 million–some of it raised from companies and trade groups that have business before the Senate Banking Committee he heads–thus he came back to Washington with his tail between his legs, without garnering a single delegate for his labors.
He may also have used poor judgment when he took a mortgage loan from a special program provided to Washington insiders and others from Countrywide Financial, the now-humbled mortgage originator.
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