By Senate Standards, Dodd’s Video on Card Rates Freeze is a Hit

Nearly 5,000 views on YouTube is mere pittance, but by Senate floor standards, Sen. Chris Dodd’s impassioned plea to freeze credit card interest rates is a hit.

Consider that the nearest competitor among Dodd’s other posted videos had 621 views. And by YouTube statistical benchmarks of fellow lawmakers speaking from the House or Senate floors, even 1,000 views would draw a boastful claim.

Titled, Republicans Block Dodd’s Effort to Protect Consumers from Credit Card Rate Hikes, the nearly 10-minute video is noted for the mere 5-second presence of a Republican, that of Sen. Thad Cochran, R-Mississippi.

Cochran’s mere 13 words, in effect, killed Dodd’s attempt to freeze credit card rates on existing balances until much broader reform laws take effect in February. Cochran’s moment comes at about 7:48 into the video.

“On behalf of several senators from this side of the aisle, I object,” Cochran announced, following  the speech by Dodd, who is chairman of the Senate Banking Committee.

Cochran’s objection effectively killed the rate freeze bill by putting it on hold, a procedural step that makes it virtually impossible for it to pass.

On the video, Democratic Senators Charles Schumer of New York and Mark Udall of Colorado also spoke in favor of the rate freeze.

The rate freeze video’s popularity is being fueled by politically liberal websites, led by http://www.huffingtonpost.com/ (more than 1,800 views), one of several organizations that have embeded, or made the YouTube speech viewable, on their sites. 

See related article:
Republicans Swiftly Block Move to Freeze Credit Card Rates