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