The retirement of longtime Sen. Chris Dodd (D-Conn.), the second leading Democrat to make such an announcement in recent days, could portend difficult times ahead for the president’s allies in Congress’ upper chamber.
Dodd, 65, whose congressional election winning streak dates back 35 years, was looking at a particularly difficult re-election bid this year. His ties to the despised financial industry, and the fact that several strong challengers have lined up to take him on, made him vulnerable for the November election.
Last year, Dodd was publicly castigated for drafting the language responsible for maintaining mega-million-dollar bonuses for the top brass of American International Group, which had gotten major bailout bucks from taxpayers. At first, Dodd, who heads the Senate Banking Committee, denied that he had anything to do with the decision to award the fat paydays.
On Monday, Democratic senator, Byron Dorgan of North Dakota, also announced that he will not seek re-election in November.