by Deepak Gupta
The headline of a piece in today's Washington Post reads The Banker's Candidate: Senator Dodd Amasses Huge Warchest. In the interest of balance, the story mentions Dodd's recent leadership on predatory mortgage lending and high-interest credit cards, but the overwhelming focus is on his close ties with the banking industry. The Post also includes a data-filled chart (on left; click to enlarge), showing Dodd's donations from the finance and insurance industries over time. Here's a snippet:
Connecticut Sen. Christopher J. Dodd has two big jobs. He is a candidate for the Democratic nomination for president, and he chairs the Senate Banking Committee.
They are proving to be a lucrative combination. Among Democrats, Dodd's $5 million campaign nest egg is surpassed only by that of Sen. Hillary Rodham Clinton (N.Y.), who has one of the most elaborate fundraising machines ever assembled.
Dodd's electoral riches can be traced to the banking panel, whose jurisdiction includes some of the wealthiest industries in America -- banking, insurance and financial services. In addition, Dodd's home state is the hedge fund and insurance capital of the country.
But it is Dodd's philosophy, not only his geography, that has made him a cash magnet. Each of these big-money interests applauds his light-handed approach to financial regulation and considers him a reliable friend -- a fact that raises questions about Dodd's viability in a Democratic field even as it bolsters his fundraising prowess.
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