Most recently, he was a major player with Sen. Thomas Daschle, D-S.D. in getting the original Terrorism Risk Insurance Act enacted.

In a virtual all-night phone call with White House officials in November 2002, Sen. Dodd and his top aides bridged the gap between totally different bills passed by the House and the Senate. He was also a key player in getting the Gramm-Leach-Bliley Financial Modernization Act that became law in 1999.

A close long-time friend and a former aide when Sen. Dodd served in the House said, “Sen. Dodd is thinking about running.” The former aide said there would be “no formal announcement for a long, long time,” because that triggers “all sorts of legal requirements.”

The former aide, who did not want to be identified, added, “he is in what is called the 'pre-exploratory phase'. He is making every decision to do everything necessary to prepare to run for the presidency.”

The aide explained that, “Should he make that final decision, he will be very well prepared to make that decision. It is not an exercising in ego and hubris.”

According to The Washington Post, at the end of March, Dodd had $2 million in his Senate campaign account. Sen. Hillary Rodham Clinton has $20 million in campaign contributions stored away. Other current potential candidates include Sen. Evan Bayh, Ind., former Virginia Gov. Mark Warner, and Sen. Russell Feingold, D-Wis.

The aide said that Sen. Dodd has organized a national fund raising base, “and has extensive national experience in a previous role as former chairman of the Democratic National Committee under President Clinton.”