The Eye

Schiff hemmed and hawed before admitting that he was eyeing a run for the Republican nomination to challenge Democrat Christopher J. Dodd, the state's five-term senior senator, who has faced withering criticism for his ties to the financial industry as chairman of the powerful Senate Banking Committee.

The opportunity to send Dodd home, Schiff said, is "the most attractive part of running."

"He's been living in the Senate his whole life. He thinks he's in the House of Lords."

"He's got a very nice house. I happen to know he got a very good deal on his mortgage, as well," Stewart joked, in a nod to the controversy surrounding the VIP treatment Dodd received on his mortgage with Countrywide, which has since collapsed in the wake of the subprime mortgage crisis.

Seizing the opportunity to test out attack lines, Schiff noted that the man who helped Dodd with his mortgage, Countrywide co-founder Angelo Mozilo, was charged with fraud and insider trading by the Securities and Exchange Commission last week.

If Schiff does decide to run, he would first have to get through a crowded Republican primary. The favorite, based mainly on name recognition, is former Rep. Rob Simmons, who has been campaigning since March. State Sen. Sam Caligiuri and former Ambassador Tom Foley are also running.

Schiff could be a formidable candidate thanks to his grass-roots following -- he served as an adviser to Republican Ron Paul's presidential campaign and has supporters from Paul's camp who have been urging him to run for months -- and his ability to self-fund. He also has a ready-made platform as a prescient voice against both government and Wall Street financial practices, a subject that is sure to remain salient in coming months.