James Pethokoukis

Politics and policy from inside Washington

The impact of Dodd’s Senate departure

By James Pethokoukis
January 6, 2010
2008 financial crisis | Consumer Financial Protection Agency | financial regulatory reform | Sen. Christopher Dodd

Some talking points/analysis on the  Chris Dodd retirement

  1. Makes it more likely Ds keep CT Senate seat, but also a sign of voter discontent with incumbents. Welcome to the U.S. Senate Richard Blumenthal, who says he will run.

  2. Makes it more likely that financial reform will be bipartisan, Dodd wants this to be a legacy moment for him. But the GOP may stall.

  3. I predicted Dodd would retire when he announced his support for Bernanke. (Yes!) Opposing him would have been the smarter political move.

  4. His Banking committee replacement in 2011 is likely Tim Johnson, considered friendly to the financial services industry. Hard to see a Glass Steagall repeal getting through a committee run by him.  Byron Dorgan, by the way, was a G-S guy and he is leaving, too. Sweeping financial reform happens now or never.

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