Tumblr Icon RSS Icon

Dodd: Financial crisis is not a ‘natural disaster like the Gustav hurricane.’

By Amanda Terkel on September 22, 2008 at 3:25 pm

"Dodd: Financial crisis is not a ‘natural disaster like the Gustav hurricane.’"


google plus icon

chris-dodd.jpg Today in an interview with NPR, Senate Banking Committee chairman Chris Dodd (D-CT) sharply criticized the Bush administration for demanding $700 billion with no accountability, noting that no accountability largely led to this financial crisis in the first place:

I spent quite a bit of time last night with my colleague from Alabama, Sen. Shelby, who is the ranking Republican on the banking committee. I ran into Mel Martinez of Florida, the Republican senator from that start. I’ve talked to others here. This isn’t just Democrats. This isn’t a natural disaster like the Gustav hurricane. This is a man-made, avoidable, preventable problem — and a lack of oversight and accountability was one of the problems.

Dodd’s comments were a swipe against President Bush, who last week cited the financial crisis in the same breath as terrorist attacks and natural disasters.


Krugman has more on Dodd’s alternative to the Bush administration’s financial bailout plan.

Even With Costly Wall Street Bailout, McCain Still Claims He Will Balance The Budget By 2013

Just Yesterday, McCain Said He’d ‘Be Glad’ To Have Rick Davis’s Record ‘Examined By Anybody’

By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.