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Chris Dodd Under Investigation for Sweetheart Mortgage Deal
The Weekly Standard ^ | 10/30/08 | Brian Faughnan

Posted on 10/31/2008 3:47:35 PM PDT by randita

Chris Dodd Under Investigation for Sweetheart Mortgage Deal

NBC news reports that the Justice Department has begun an investigation into whether Countrywide Financial Corp used the 'Friends of Angelo (Mozilo)' program to buy influence with Senators Chris Dodd (D-CT), Kent Conrad (D-ND), and others. According to a senior Countrywide official who handled its VIP program, there was no way Dodd and Conrad could not have known they were getting a special deal:

...Feinberg says part of his job was to hammer home to the V.I.P. clients that they were getting special deals.

"You spoke in a manner that was different than you spoke with a regular customer," said Feinberg. "'Your loan has been specially priced by Angelo.' 'You're getting special discounts because you're in the V.I.P. loan department."

So what would a "Friend of Angelo" get that an average customer would not? According to Feinberg, the possible benefits ran the gamut.

"They got a discount on the interest rate," said Feinberg. "They got discounts on their fees. They got a free floatdown option before closing..."

"There were many, many taglines we used to let them know their level of importance to make sure that they understand where they're located," said Feinberg. "And nine times out of ten, once you mention 'V.I.P' the person's gonna ask you 'what am i getting for being in this V.I.P department?' Or 'what am I getting because I know Angelo?' Or 'I talked to Angelo and he said I'm getting this...'"

Feinberg says he's not aware of any discounts linked to favors, but he did see e-mails noting the potential value of the relationships to Countrywide's political and business interests. The e-mails noted one particular client was "of importance to Countrywide." Another encouraged a discount, noting "they are incredibly important to us." Yet another asked that the loan officer, "make an exception" in Countrywide's lending rules, "due to the fact that the borrower is a Senator."

If Dodd and Conrad somehow missed the special treatment they were receiving, Feinberg's testimony suggests that it was only because they chose not to listen. Nevertheless, Dodd is still refusing to release the paperwork related to his loans--information he promised to share weeks ago.


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events; US: Connecticut
KEYWORDS: 110th; chrisdodd; corruptdems; countrywide; digg; dodd; mortgage; perks
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Searched and didn't see this posted.
1 posted on 10/31/2008 3:47:36 PM PDT by randita
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To: randita
He's got to be innocent! He's a DemocRAT! This is just a "political witchhunt!"

sarc/off

2 posted on 10/31/2008 3:49:58 PM PDT by FlingWingFlyer (I'm voting for McCain/Palin so I can look my grandchildren in the eyes when I tell them I'm sorry.)
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To: randita

Praise GOD!

LLS


3 posted on 10/31/2008 3:50:21 PM PDT by LibLieSlayer (GOD, Country, Family... except when it comes to dims!)
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To: randita

Dodd should share a cell with Stephens.

Only what Dodd did was 1,000 times worse, because his bribed malfeasance crashed the entire economy.


4 posted on 10/31/2008 3:50:42 PM PDT by Travis McGee (--- www.EnemiesForeignAndDomestic.com ---)
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To: randita

DoddGamed America!


5 posted on 10/31/2008 3:51:52 PM PDT by Moorka
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To: randita

Well..........it’s about effing time!!!

bttt!!!!!


6 posted on 10/31/2008 3:52:33 PM PDT by CaliforniaCon
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To: nutmeg

I wonder if Dodd’s current term will be his last?


7 posted on 10/31/2008 3:53:15 PM PDT by Clintonfatigued (If Islam conquers the world, the Earth will be at peace because the human race will be killed off.)
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To: randita

This should be on digg.


8 posted on 10/31/2008 3:53:21 PM PDT by murphE ("It is terrible to contemplate how few politicians are hanged." - GK Chesterton)
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To: randita

Dodd under investigation, ObamaRezko next? $300,000 discount and a kneepad loan of his own, hayna? Or no?


9 posted on 10/31/2008 3:53:24 PM PDT by flowerplough (Obama, Oct. 7 debate: " You know, a lot of you remember the tragedy of 9/11 ...")
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To: Travis McGee

Is this another “go no where” investigation story of a corrupt DemocRAT we’ll never read about again?


10 posted on 10/31/2008 3:53:33 PM PDT by TribalPrincess2U (Is ACORN founder Wade Rathke, a Bill Ayers Weather Underground Associate)
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To: CaliforniaCon

Get those cells warmed up, theres more to come.We demand justice!


11 posted on 10/31/2008 3:54:30 PM PDT by ronnie raygun (THE NEW MILLIONAIRES CLUB : YOUR FRIENDLY NIEGHBORHOOD CONGRESSMEN)
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To: randita

Best news I’ve heard all day!


12 posted on 10/31/2008 3:54:30 PM PDT by ConservativeGreek
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To: randita

“chris dodd under investigation...”

and the result?

(hint: democrats can do nothing wrong and are immune from the laws that govern the rest of humankind.)

IMHO


13 posted on 10/31/2008 3:54:41 PM PDT by ripley
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To: randita

Dodd under investigation? It’s about time. Now let’s also go after a few other like Bawney Fwank.


14 posted on 10/31/2008 3:55:21 PM PDT by From The Deer Stand
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To: randita

Why is there a Digg keyword in this post? There is no Digg link anywhere.


15 posted on 10/31/2008 3:56:12 PM PDT by GodGunsGuts
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To: TribalPrincess2U

For sure, if Barack Odingo is elected.


16 posted on 10/31/2008 3:56:21 PM PDT by Travis McGee (--- www.EnemiesForeignAndDomestic.com ---)
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To: randita

If they find him guilty, since he’s a Demonkat, what will they do to him, deprive him of Happy Hour for a day?


17 posted on 10/31/2008 3:57:28 PM PDT by webschooner
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To: randita

I’ve loathed that SOB for decades, and while I’d prefer he was charged for un-natural acts committed with Daniel Ortega, I’ll settle for anything. He’s a despicable, slimy, treasonous blow-dried bastard.


18 posted on 10/31/2008 3:57:50 PM PDT by VR-21
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To: randita

Get Barney Frank too!


19 posted on 10/31/2008 3:58:06 PM PDT by CycloneGOP
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To: GodGunsGuts

Don’t know anything about digg.

I also heard Hannity mention this today on the radio. That’s why I looked up the article.


20 posted on 10/31/2008 3:58:41 PM PDT by randita
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