A Consumer Financial Cop? Not Likely

Now that Sen. Christopher Dodd (D-Conn.) no longer has to worry about getting reelected, he's considering scrapping the idea of an independent agency in return for bipartisan support of the broader financial regulation overhaul bill.

Senate Banking Chair Dodd Will Retire

Democrat Chris Dodd, the Connecticut senator who wants to weaken the Fed and name a top financial cop, won't run for reelection in 2010. His popularity has faded with the onset of the financial crisis and voters' perception that Dodd was under the sway of Wall Street.