Maybe Dodd's Angling for 'Cushy Bank Job'

That Sen. Chris Dodd would sacrifice tighter regulations on big banks in the name of bipartisanship is so insane—and bad politics, to boot—that his threats on the so-called Volcker rule have Joe Klein wondering if the Connecticut Democrat “just wants a nice, cushy bank job after he retires.” Snarls Klein for Time: “There is smart bipartisanship, but this isn’t it.”

It’s good law, Klein continues, that “banks shouldn’t be allowed to play private Ponzi games … with their depositors’ money.” And “the politics is also straight-forward: Anything that lashes the Republicans to their natural allies on Wall Street is good for the Democratic Party.” Dodd says he wants a bipartisan bill to cap his legacy, but Klein sees Wall Street between those lines.