Quote of the Day

Friday, June 25th, 2010

“It’s a great moment. I’m proud to have been here. No one will know until this is actually in place how it works. But we believe we’ve done something that has been needed for a long time. It took a crisis to bring us to the point where we could actually get this job done.”

That’s a “teary” Sen. Chris Dodd (D-Conn.), on the financial overhaul bill assembled by leaders in both houses this week. So Dodd, the chair of the committee with jurisdiction over the bill, has no idea how the bill work. Which also means he has no idea if it will work. Which also means he has no idea if the bill will do more harm than good. Nonetheless, he’s certain it was needed, and is proud to have helped make it happen.

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20 Responses to “Quote of the Day”

  1. #1 |  JS | 

    pretty much sums up American leadership in the early 21st century.

  2. #2 |  CHRISC | 

    Good heavens. This is the best this country has to offer? This is like communism, the elite party does great and the rest of us suffer as they drive the plane right into the ground. We’ve been frankendodded again.

  3. #3 |  Kevin3% | 

    Classic dysfunctional thinking from a congressthing who has been there too long and served no one but his own interests. And he is leaving at the end of his term. How fucking convenient. His pension will keep him safe from whatever he has stuck us with.

    Sadly, his replacement likely won’t be an better. ‘Tis the nature of the beast.

  4. #4 |  Judas Peckerwood | 

    “It took a crisis to bring us to the point where we could actually get this job done.”

    …he said to the architects of the crisis.

  5. #5 |  Robert | 

    So Dodd is less than eloquent. What does that have to do with the substance of WSR? Oh yeah, glibertarians have the answer to everything- do nothing because market solutions are better. Always. Just because…

  6. #6 |  Jeff | 

    You’re blowing this way out of proportion. All he’s saying is that reforms are needed, but no one can truly predict how well these reforms will work, whether there’ll be a ton of loopholes exploited, et cetera. That’s pragmatic cynicism, and I can’t believe you’re insulting him for it.

  7. #7 |  Henry Bowman | 

    Of course he’s proud of it! That way, he figures he has actually earned the millions of dollars that the big banks sent his way.

  8. #8 |  JS | 

    Legislate even if it hurts us bad laws are better then no laws at all huh Robert?

  9. #9 |  Boyd Durkin | 

    Isn’t Chris Dodd more crooked than a snake’s dick?

  10. #10 |  Boyd Durkin | 

    It took a crisis to bring us to the point where we could actually get this job done.”

    OK, so a little more commentary is needed. The crisis he is talking about isn’t the crisis that actually took place. And, the “job done” isn’t the job the voters think is getting done.

    This is yet-another “never waste a good crisis to expand government”.

    The “crisis” is failed economic, social and monetary policies of the Republican and Democrat parties along with the Federal Reserve. THAT is the crisis that happened, is happening, and will continue to happen.

    The job that should be done is stop buying votes on credit and let capitalism and failure dance like they’re supposed to.

  11. #11 |  Boyd Durkin | 

    Oh yeah, glibertarians have the answer to everything- do nothing because market solutions are better. Always. Just because…

    Now, Robert, you know this isn’t a fair summary of economic philosophies from Mises, Rothbard, Menger, Hayek, and several others. Not one of these men has ever said “just because”. It is ignorant to insinuate such.

    But it is fair to say “Congress will respond to both real and perceived crisis with regulations, expansion of government powers, and higher taxes…” because the people are powerless to stop them.

  12. #12 |  Alex D | 

    If the quote was derived from the linked article, then WaPo has removed the incriminating evidence. It now reads:

    > “It’s a great moment,” said a teary-eyed Sen. Christopher J. Dodd (D-Conn.), who as chairman of the banking committee led the effort in the Senate. “It took a crisis to bring us to the point where we could actually get this job done.”

  13. #13 |  the friendly grizzly | 

    “Isn’t Chris Dodd more crooked than a snake’s dick?”

    I’d not know, but the pic of Frank and Dodd over at Drudge shows Frank pulling up on his belt like needs to “adjust” something… I guess he does after what he just did to the American people.

  14. #14 |  Cynical in CA | 

    Actually, Boyd, I think Robert summed up the reality of free markets rather succinctly. It really does boil down to “just because.” When something is true, explanations only matter to the thick-headed.

  15. #15 |  B8ovin | 

    “Here’s your artificial leg. Walk a bit and let’s see HOW it works.” I’m sure you see the context. It doesn’t express doubt in its ability, but rather denotes a healthy interest in its utility. An intellectual understanding of the law of unintended consequences would demand that Dodd present some caveats. Rather than pillory him for these remarks you might consider how rare such admissions are.

  16. #16 |  Cynical in CA | 

    An intellectual understanding of the law of unintended consequences should deter any rational individual from service in Congress.

    F’en duh.

  17. #17 |  B8ovin | 

    What an odd use of “rational”. By all means lets support the idea of Congress being peopled by “irrational” people unaware that even their best efforts can result in disaster.

    No wait…uh…

  18. #18 |  Alex Russell | 

    Radley,
    … Uh… no. I’m rarely moved to shake my head when I read you, but it’s possible for a post to be a high percentage of knee-jerking, and I think this is you knee jerking. “…has no idea how the bill work. Which also means he has no idea if it will work. Which also means he has no idea if the bill will do more harm than good.”
    Man, the simplest reading of that sentence is just a) that he’s speaking imprecisely and b) that he’s just doing the alternative to proclaiming that “we have solved it!”, i.e., he saying it’s going to be necessary to see how it shakes out. Normally I’d expect people whom I find sensible, if not necessarily to applaud that relative caution or humility or whatever it is, to at least not ding him for it, let alone extrapolate this confession of vast uncaring ignorant folly from it (would that be plausible at all from any other viewpoint?). You can have that kind of deep suspicion about how the bill itself will work out, fine, but – I don’t even know how to say it. I’ve had you bookmarked because you do good reporting, and I tend to like it from a libertarian standpoint, but pure reading-in like this isn’t good reporting, it’s ideological Super-Perceptiveness, that particularly makes me sigh when people I like reading do it.

  19. #19 |  Radley Balko | 

    Alex,

    And I guess you’re going to tell me I’m also “reading-in” when the Democrats said we’ll worry about what’s actually in the health care bill once it’s passed?

    Or when both parties (at different times) have said that it’s impractical for members of Congress to actually read and understand complicated bills before they’re passed into law?

    I think Dodd knew exactly what he was saying. They haven’t the slightest idea if this bill will work. But they’re succumbing to “we have to do something” syndrome. This is at least “something.” So they’re going to do it.

  20. #20 |  Cynical in CA | 

    You’re right B8ovin, I should have written “moral,” rather than rational. Not that “rational” doesn’t fit the context, but it would have made it more clear for you.

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