Embattled Senate Banking Committee Chairman Christopher Dodd (D-Ct.), whose low approval ratings make him one of the most vulnerable Democrats seeking re-election next year, gets help from President Obama tonight.So, why is Obama willing to appear with Dodd? Well, it's all about the politics of securing passage of financial services overhaul legislation. Never mind that Dodd is ethically challenged over his ties to the industry and his committee has failed in its oversight function on numerous occasions. In fact, Dodd purposefully excluded AIG from employment compensation limits, causing a kerfuffle over bonuses provided AIG executives paid out from bailout funds, even though Congress was well aware of the existence of the exclusion.
Obama will appear at a $1,000-per person fundraising event for Dodd in Stamford.
Dodd’s low approval ratings stem from several factors, including the sluggish economy and questions raised about favorable treatment he received on a mortgage from Countrywide Home Loans.
New York Democrats have to wonder why they aren't getting the support that their fellow Democrats in New Jersey and Connecticut received, even though in both instances, the candidates were seriously flawed.