Dodd: Biting the Hands That Fund Him?
When Chris Dodd's first quarter campaign disclosures were released this spring, revealing that just five of the hundreds of donors to the veteran senator's reelection bid were residents of his homestate of Connecticut, the political attack ads basically made themselves. One, released by one his Republican challengers, features a map showing the home states of his out-of-town contributors and the amounts derived from each locale: $90,000 from Massachusetts, $100,000 from Maryland and New York, $81,000 from Texas. And then, as game show style music plays, the zinger: just $4,250 from residents of the Nutmeg State.
Here at Mother Jones, Jonathan Stein and I focused on another aspect of Dodd's first quarter disclosures: the fact that, with his political future in jeopardy, the five-term senator and chair of the powerful Senate banking committee appeared to be receiving a personal bailout from his friends in the finance industry.
Despite his waning appeal in Connecticut, Dodd's fundraising effort picked up steam in the first three months of 2009. He raised just more than $1 million during the quarter, according to federal campaign disclosure records. Almost a third of that money—at least $299,000—came from banking and investment executives, financial industry trade groups, and finance-oriented political action committees (PACs). An additional $68,000 came from lobbyists, many with clients on Wall Street. And that doesn't count the formidable financial support Dodd has received from insurance and health care interests.