Chris Dodd

Dodd was elected to the U.S. Senate in 1980, and was subsequently reelected in 1986, 1992, 1998, and 2004. He is the first senator from Connecticut to serve five consecutive terms.

Facing a competitive reelection bid for his Senate seat in 2010 and trailing against both of his likely Republican challengers in public opinion polling,[13] Dodd announced in January 2010 that he would not seek re-election for a sixth term in the Senate. Polls of Connecticut voters in 2008 and 2009 had consistently suggested Dodd would have difficulty winning re-election, with 46% viewing his job performance as fair or poor and a majority stating they would vote to replace Dodd in the 2010 election.[14]

During the 1994 elections, the Republicans won the majority in both houses of Congress. Dodd therefore entered the minority for the second time in his Senate career. He ran for the now vacant position of Senate Minority Leader, but was defeated by South Dakota Senator Tom Daschle by one vote. The vote was tied 23–23, and it was Colorado Senator Ben Nighthorse Campbell who cast the deciding vote by absentee ballot in favor of Daschle.

From 1995 to 1997, he served as General Chairman of the Democratic National Committee. As General Chairman, Dodd was the DNC's spokesman. Donald Fowler served as National Chairman, running the party's day-to-day operations. Dodd has also involved himself in children's and family issues, founding the first Senate Children's Caucus[15] and authoring the Family and Medical Leave Act (FMLA),[16] which requires larger employers to provide employees unpaid leave in the event of illness, a sick family member, or the birth or adoption of a child. To date, more than 50 million employees have taken advantage of FMLA mandates. He is working to support a bill that would require employers to provide paid family and medical leave. For his work on behalf of children and families, the National Head Start association named him "Senator of the Decade" in 1990.[16]

Dodd briefly considered running for president in 2004, but ultimately decided against such a campaign and endorsed fellow Connecticut Senator Joe Lieberman. He then was considered as a likely running mate for his friend, eventual Democratic nominee John Kerry. He was also considered a possible candidate for replacing Daschle as Senate Minority Leader in the 109th Congress, but he declined, and that position was instead filled by Harry Reid.

Dodd maintained an office in Hartford, Connecticut, which was burglarized in 2007 by a man stealing property for subsequent sale to support his drug habit.[17]

• Committee on Foreign Relations
  • Subcommittee on Western Hemisphere, Peace Corps and Narcotics Affairs (chairman)
  • Subcommittee on Near Eastern and South and Central Asian Affairs
  • Subcommittee on East Asian and Pacific Affairs
  • Subcommittee on European Affairs
• Committee on Banking, Housing, and Urban Affairs (chairman)
  • As chairman of the committee, Dodd may serve an ex officio member of all subcommittees of which he is not already a full member.
  • Subcommittee on Economic Policy
  • Subcommittee on Security and International Trade and Finance
  • Subcommittee on Securities, Insurance, and Investment
• Committee on Health, Education, Labor, and Pensions
  • Subcommittee on Children and Families (chairman)
  • Subcommittee on Employment and Workplace Safety
• Committee on Rules and Administration
• Joint Committee on the Library
• Commission on Security and Cooperation in Europe

In February 2011, despite "repeatedly and categorically insisting that he would not work as a lobbyist,"[27][28] Dodd replaced Dan Glickman as chairman of and chief lobbyist for the MPAA.[29][30][31]

On January 17, 2012, Dodd released a statement criticizing "the so-called 'Blackout Day' protesting anti-piracy legislation."[32] Referring to the websites participating in the blackout, Dodd said, "It is an irresponsible response and a disservice to people who rely on them for information and use their services. It is also an abuse of power... when the platforms that serve as gateways to information intentionally skew the facts to incite their users in order to further their corporate interests."[32] In further comments, Dodd threatened to cut off campaign contributions to politicians who did not support the Preventing Real Online Threats to Economic Creativity and Theft of Intellectual Property Act and the Stop Online Piracy Act, legislation supported by the MPAA.[33][34][35]

On September 4, 2017, Dodd stepped down as MPAA CEO, and was replaced by former U.S. Ambassador to France and Assistant Secretary of State for Economic and Business Affairs Charles Rivkin.[36][37]

Following his tenure at MPAA, Dodd joined law firm Arnold & Porter in Washington, D.C.[38]

During the 2020 Democratic primary, Dodd was an advisor and surrogate for the campaign of his friend and colleague Joe Biden. Dodd was a member of Biden's vice presidential search committee. He was reported to have spoken against picking California Senator Kamala Harris—saying that "she had no remorse" for "her ambush on Biden in the first Democratic [primary] debate"—and to have advocated for California Congresswoman Karen Bass to be selected instead because "she’s a loyal No. 2."[39]

On March 1, 2021, the public relations and advisory company Teneo announced that it was hiring Dodd, while he was a top advisor to President Biden,[40] as a senior advisor at the company, and that Teneo had acquired a significant minority stake in the consulting firm WestExec Advisors, which had very close ties to the new Biden administration.[41]

In his role as chairman of the Senate Banking Committee Dodd proposed a program in June 2008 that would assist troubled sub-prime mortgage lenders such as Countrywide Financial in the wake of the United States housing bubble's collapse.[42] Condé Nast Portfolio reported allegations that in 2003 Dodd had refinanced the mortgages on his homes in Washington, D.C., and Connecticut through Countrywide Financial and had received favorable terms due to being placed in the "Friends of Angelo" VIP program, so named for Countrywide CEO Angelo Mozilo. Dodd received mortgages from Countrywide at allegedly below-market rates on his Washington, D.C., and Connecticut homes.[42] Dodd had not disclosed the below-market mortgages in any of six financial disclosure statements he filed with the Senate or Office of Government Ethics since obtaining the mortgages in 2003.[43]

Dodd's press secretary said "The Dodds received a competitive rate on their loans," and that they "did not seek or anticipate any special treatment, and they were not aware of any," then declined further comment.[44] The Hartford Courant reported Dodd had taken "a major credibility hit" from the scandal.[45] At the same time, the Chairman of the Senate Budget Committee Kent Conrad and the head of Fannie Mae Jim Johnson received mortgages on favorable terms due to their association with Countrywide CEO Angelo Mozilo.[46] The Wall Street Journal, The Washington Post, and two Connecticut papers have demanded further disclosure from Dodd regarding the Mozilo loans.[47][48][49][50]

On June 17, 2008, Dodd met twice with reporters and gave accounts of his mortgages with Countrywide. He admitted to reporters in Washington, D.C., that he knew as of 2003 that he was in a VIP program, but claimed it was due to being a longtime Countrywide customer, not due to his political position. He omitted this detail in a press availability to Connecticut media.[51]

On July 30, 2009, Dodd responded to news reports about his mortgages by releasing information from The Wall Street Journal showing that both mortgages he received were in line with those being offered to general public in fall 2003 in terms of points and interest rate.[52]

On August 7, 2009, a Senate ethics panel issued its decision on the controversy. The Select Committee on Ethics said it found "no credible evidence" that Dodd knowingly sought out a special loan or treatment because of his position, but the panel also said in an open letter to Dodd that the lawmaker should have questioned why he was being put in the "Friends of Angelo" VIP program at Countrywide: "Once you became aware that your loans were in fact being handled through a program with the name 'V.I.P.,' that should have raised red flags for you."[53]

Dodd was involved in issues related to the federal takeover of Fannie Mae and Freddie Mac during the 2008 subprime mortgage crisis. As part of Dodd's overall mortgage bill the Housing and Economic Recovery Act of 2008 before Congress in the summer of 2008, Treasury Secretary Hank Paulson sought provisions enabling the Treasury to add additional capital and regulatory oversight over these government-sponsored enterprises. At the time, it was estimated that the federal government would need to spend $25 billion (~$31.3 billion in 2021) on a bailout of the firms.[54]

During this period, Dodd denied reports claiming that these firms were in financial crisis. He called the firms "fundamentally strong,"[55] said they were in "sound situation" and "in good shape" and to "suggest they are in major trouble is not accurate."[56] In early September, after the firms continued to report huge losses,[57] Secretary Paulson announced a federal takeover of both Fannie Mae and Freddie Mac. Dodd expressed skepticism of the action, which the Treasury estimated could cost as much as $200 billion.

Dodd was the top recipient in Congress, followed by John Kerry, Barack Obama, then Hillary Clinton, of campaign funds from Fannie Mae and Freddie Mac during 1989–2008.[58]

In February 2009, Kevin Rennie, a columnist at the Hartford Courant, ran an op-ed concerning Dodd's acquisition of his vacation home in Roundstone, Ireland.[59] The article alleged that Dodd's former partner in buying the home had ties to disgraced Bear Stearns principal Edward Downe, Jr. who had since been convicted of insider trading by the Securities and Exchange Commission.[60] After paying an $11 million fine for his role in the scam, Downe later obtained a pardon in the waning days of the Bill Clinton administration. The controversial pardon was granted after Dodd lobbied Clinton on Downe's behalf. Dodd's letter to the President said, "Mr. President, Ed Downe is a good person, who is truly sorry for the hurt he caused others."[61] After Downe's pardon, Dodd bought out the interests of his partner for a price allegedly based on a 2002 bank appraisal of the Roundstone home, which yielded little profit for Dodd's partner.[62][63] Rennie criticized Dodd for claiming the Roundstone home was worth less than $250,000 in Senate ethics filings; some observers estimated the likely value in excess of US$1 million.[64]

In June 2009, Dodd provided a new statement to the Senate reporting the actual value of his Irish property at $658,000 (~$819,695 in 2021).[65] The Wall Street Journal later compared this issue to the ethical charges which led to the political demise of Alaska Senator Ted Stevens.[66]

From the fall of 2008 through early 2009, the United States government spent nearly $170 billion to assist failing insurance giant American International Group. AIG then spent $165 million of this money to hand out executive "retention" bonuses to its top executives. Public outrage ensued over this perceived misuse of taxpayer dollars.

The Fox Business Network's Rich Edson broke the story claiming Dodd was responsible for the inclusion of a clause limiting excessive executive pay in the American Recovery and Reinvestment Act.[67][68][69][70] On February 14, 2009, The Wall Street Journal published an article, Bankers Face Strict New Pay Cap, discussing a retroactive limit to bonus compensation inserted by Dodd into the stimulus bill that passed in the Senate.[71]

The same article went on to mention that Treasury Secretary Timothy Geithner and Lawrence Summers "had called Sen. Dodd and asked him to reconsider."

When the bill left conference, Dodd's provision had been amended to include a provision preventing limits on bonuses previously negotiated and under contract. This provision was lobbied for by Geithner and Summers.

As Dodd explained in a March 18, 2009 interview on CNN,[72] at Geithner and the Obama Administration's insistence he allowed his provision's original language to include Geithner and Summers' request, which in turn allowed AIG to give out bonuses under previously negotiated contracts. However, Dodd's provision also included language allowing the Treasury Secretary to examine bonuses doled out and, if they were found to be in violation of the public interest, recoup those funds.

Dodd retreated from his original statement that he did not know how the amendment was changed.[73] Dodd was criticized by many in the Connecticut media for the flip-flop.[74][75] In a March 20, 2009 editorial the New Haven Register called Dodd "a lying weasel"[76] The same day, Hartford Courant columnist Rick Green called on Dodd not to seek re-election in 2010.[77]

The Hill described Dodd as "reeling" from the controversy[78] and having "stepped in it" after changing his story about the bonus amendment.[79]

At a press conference in Enfield, Connecticut, on March 20, 2017, Dodd responded to critics and explained that his original answer to CNN was based on a misunderstanding of the question.[80] He also said he was disappointed that the Treasury officials who asked him to make the legislative changes had not identified themselves, refusing to confirm the identity of the individuals responsible for changing the amendment.[81]

The Manchester Journal Inquirer suggested that "Chris Dodd's explaining may have only begun."[82]

Opensecrets.org reported that Dodd received over $223,000 from AIG employees, many of whom were Connecticut residents, for his campaigns.[83] Additionally, realclearpolitics.com reported that Dodd's wife was a former director for Bermuda-based IPC Holdings, a company controlled by AIG. She held this position before she married him.[84] On May 3, 2009, the Courant reported Dodd's wife served on a number of corporate boards, including the CME Group and could be earning as much as $500,000 annually for those services.[85] On March 30, 2009, The Courant reported that former AIG Financial Products head Joseph Cassano personally solicited contributions from his employees in Connecticut via an e-mail in fall 2006, suggesting that the contributions were related to Dodd's ascension to the chairmanship of the Senate Banking Committee.[86]

In 1985, Dodd and fellow Senator Ted Kennedy, were involved in an incident at a Washington restaurant, which a waitress reported allegations that the pair sexually assaulted her.[87][88] According to an account in GQ magazine, Kennedy grabbed waitress Carla Gaviglio, and rubbed his genital area against hers, while pressing her against Dodd's lap.[89] The incident was corroborated to the magazine by another waitress, as well as the restaurant's owner.[90]

In late-April 2020, it was announced that Dodd was a member of the vetting committee for the selection of presumptive Democratic Party presidential nominee Joe Biden's running mate.[91] The appointment caused Gaviglio's allegation to re-appear in the news, in the context of the #metoo movement, and Biden's own sexual assault allegation.[92][93][94]

During this time, Gaviglio spoke again of the incident, acknowledging that Kennedy was the instigator, but also laying blame on Dodd. When asked about the vice presidential search, she stated she would still vote for Biden, but disapproved of Dodd being part of the selection process.[95]