Skip to comments.Chris Dodd Under Investigation for Sweetheart Mortgage Deal
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.
Dodd should share a cell with Stephens.
Only what Dodd did was 1,000 times worse, because his bribed malfeasance crashed the entire economy.
Well..........it’s about effing time!!!
I wonder if Dodd’s current term will be his last?
This should be on digg.
Dodd under investigation, ObamaRezko next? $300,000 discount and a kneepad loan of his own, hayna? Or no?
Is this another “go no where” investigation story of a corrupt DemocRAT we’ll never read about again?
Get those cells warmed up, theres more to come.We demand justice!
Best news I’ve heard all day!
“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.)
Dodd under investigation? It’s about time. Now let’s also go after a few other like Bawney Fwank.
Why is there a Digg keyword in this post? There is no Digg link anywhere.
For sure, if Barack Odingo is elected.
If they find him guilty, since he’s a Demonkat, what will they do to him, deprive him of Happy Hour for a day?
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.
Get Barney Frank too!
Don’t know anything about digg.
I also heard Hannity mention this today on the radio. That’s why I looked up the article.