CHRIS DODD: A BLEEDING WOUND FOR THE OBAMA ADMINISTRATION?

To borrow a term from the battered auto industry, President Obama’s rollout of his economic recovery plan has been a bust. He has a chance tonight to explain why his plan should be upgraded from Sell to Buy. . . .

Speaking of which, the president ought to tell members of his own party that loose talk doesn’t help a market that sees its own shadow every day and prepares for six more months of recession. On Friday, Senate Banking Committee Chairman Christopher Dodd, D-Conn., mouthed off that the government might have to nationalize some big banks. Such a move would clean out investors, and investors reacted accordingly.

Having the ethically challenged Sen. Dodd – he accepted sweetheart loans from subprime-loan pusher Countrywide Financial – as a key player in the recovery effort is just one problem Mr. Obama faces. The biggest, though, is the perception that he doesn’t have a handle on the problem or a solution.

Yes, they do seem to be flailing. But having Dodd on board hasn’t helped.