One Example

One of the issues we face in our country is that our politicians rely on contributions from those whom they regulate. This is not an isolated issue - it happens over and over again.

Here is one small example, regarding Chris Dodd - a Democrat from Connecticut who is Chairman of the Senate Banking Committee. He is also known for ranting about the AIG bonuses while trying to hide the fact that he put the amendment in the Stimulus bill that specifically allowed for them (see previous posts).

More than $100,000 of the $1 million Dodd raised in the first three months of this year came from political action committees for the financial, insurance and real estate industries, according to his latest fundraising report. Among his donors were PACs for the American Insurance Association, Mortgage Bankers Association, Vanguard, Oppenheimer Funds, Charles Schwab, Real Estate Roundtable and Ameriprise Financial.

Dodd raised $608,995 from individuals, among them top executives from companies such as Fidelity, Citigroup and Citizens Financial Group. His take from Connecticut residents was $4,250, an especially anemic display of political enthusiasm for the state's senior senator.