Friday, August 10, 2007

Looking to draw differences...

US Sen. Christopher J. Dodd took the opportunity today to draw some differences between himself and one of the leading candidates in the Democratic race for the nomination, Illinois Sen. Barrack Obama.

In a recent interview, Obama conceded that he doesn't know how he would have voted on the measure to go to war in Iraq if he were a senator at the time. In the past, Obama, who was a state senator at the time of the vote, has been quite critical of his opponents who did support the measure.

This is what Dodd said about Obama:

"Senator Obama's position as a state senator rings hollow in light of the fact that he himself says he doesn't know how he would have voted as a U.S. Senator. It's going to take leadership in the U.S. Senate to end the war in Iraq. That's why I led the fight for a firm deadline and clearly and unequivocally stated my opposition to supplemental funding for George Bush's failed policy - something that can't be said of all the candidates."

Dodd also took the opportunity to criticize the Bush Administration for its failure to act more quickly in addressing the crisis in the home mortagage industry. He had this to say:

"The Administration’s response to the continued turmoil in the mortgage market is wholly unsatisfactory. Today’s news that the mess in the subprime lending market has spilled over into European markets is further evidence that this crisis has yet to be contained, as some, including Treasury Secretary Paulson, have suggested. The Federal Reserve, by injecting some liquidity into our markets, has taken, at best, a modest step towards helping to ease the tightening of credit that not only affects our nation’s economy but also impairs the ability of subprime borrowers who seek to salvage their homes through loan refinancing and modifications but cannot do so due to the lack of available credit on fair and affordable terms. But in addition to today’s action by the Fed, more can, and should, be done. It may be appropriate for the Administration to ease the temporary regulatory cap on Fannie and Freddie's mortgage portfolio in a manner consistent with safe and sound practices in order to infuse more liquidity into our markets."


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