Odd Dodd

18 April 2007 By Rob Cox Follow @rob1cox

While sprinkling their largesse all around, the smart money around Stevie Cohen is swarming around Christopher Dodd. Given his low polling, this looks odd. But the wager is a different one he s a wall the industry needs against further regulation.

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Senator Christopher Dodd, the Connecticut Democrat who chairs the Senate banking panel, received donations to his presidential campaign totalling $173,300 from 85 employees of Stephen Cohen's Stamford, Conn.based hedge fund, SAC.

Dodd has gone on the record opposing greater hedge fund regulation. "Hedge funds have been a tremendous wealthcreation vehicle in our capital markets" that have helped individuals and spurred economic growth, he said. Dodd is opposed to "rushing back" into legislation giving the SEC authority to regulate hedge funds.

Dodd also has pledged to be "very vigorous" in defending the Senate Banking Committee's jurisdiction over hedge fund issues, saying the Senate Judiciary Committee overreached by holding hedge fund hearings.

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