The Incredible Folly of Chris Dodd 'Reforming' Anything

It was enough to make you vomit.

Yesterday, 'doddering' Chris Dodd, chased into retiring from the Senate for both his ethics violations and inept handling of his chairmanship of the Senate committee overseeing the financial sector, was bloviating about his newly-released bill to overhaul regulation of the financial services sector.

Here's a very simple way to view this joke.

Why should a guy who botched the oversight of this sector be in any way involved in its so-called 'reform?'

In fact, why should any Democrat or Republican who served on the committee over term from, say, 2000-2007 be involved? Why are any of those nitwits even still on the committee?

Yes, including Richard Shelby. After all, Greenspan's initial mistakes in maintaining the low interest rates which stoked the mortgage boom which led to the crisis occurred during a period of Republican majority in the Senate.

In the private sector, you generally fire the failed CEO or functional executive, then bring in someone more competent to fix problems.

In the Congress, you make the idiot chairman and let him try to pass his own stupid ideas.

In Dodd's case, the moron isn't even returning to the Senate next year! Who actually takes any of his moronic ideas seriously? He's one of the idiots who let himself be bribed by sweetheart mortgages from Angelo Mozillo at Countrywide to look the other way as poor quality mortgages were orginated and fed into Fannie and Freddie.

Rather than cover his self-important press conference on the matter, then have him on air this morning, gushing worshipful tones at the jerk, CNBC should have instead announced yesterday,

'Senator Dodd, who is resigning after this term ahead of a thrashing from his GOP opponent in November, is releasing a bill he authored on financial sector reform. However, our network has decided, in view of Dodd's disastrous oversight of the sector, that he could not possibly have anything of value to express on the topic. So we won't be bothering to cover his announcement.'

It's an insult to the American voters that Dodd is even proposing this bill, let alone that any media outlet would actually cover it.