Industry Favorite Drops Out Of Race

Sen. Christopher Dodd, D-Conn., has responded to a disappointing finish in the Iowa caucuses by giving up his bid for the Democratic presidential nomination.

“Tonight I am withdrawing from the presidential race,” Dodd said Thursday after the caucuses. “But let me assure you, we do not exit this race with our heads hanging–rather, we do so with our heads held high.”

Dodd finished the caucuses with less than 1% of the caucus vote and fewer votes than “uncommitted.”

Sen. Joseph Biden, D-Del., who won 1% of the vote, also decided to end his campaign for the nomination.

“Chris Dodd has been an outstanding public servant for more than 30 years,” Frank Keating, president of the American Council of Life Insurers, Washington, says in a statement about Dodd’s decision to drop out of the primaries. “Whether as a presidential candidate or a leading member of the Senate, his dedication to assuring the strength of the American economy and enhancing the competitiveness of American businesses is unchallenged.”