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Dodd cleared from ethics probe on Countrywide loans
Market Watch ^ | 8/7/09

Posted on 08/07/2009 12:27:04 PM PDT by FromLori

n the middle of a difficult re-election campaign, Senate Banking Committee Chairman Christopher Dodd, D-Conn., on Friday was cleared by the Senate Ethics Committee from a year-long investigation about whether mortgages he obtained from Countrywide Financial Corp. violated the senate's rules on gifts.

The committee, however, did scold the senior lawmaker for not being more careful in his dealings.

"While the committee finds no substantial credible evidence as required by committee rules that your Countrywide mortgage violated Senate ethics rules, the committee does believe that you should have exercised more vigilance in your dealings with Countrywide in order to avoid the appearance that you were receiving preferential treatment based on your status as a senator," the report said.

At issue is whether Dodd and his wife knew they were receiving a high level of preferential treatment when they participated in a Countrywide Financial V.I.P. program run by the troubled mortgage lender, which is now owned by Bank of America (BAC 16.33, -0.34, -2.05%) .

Lawmakers have raised concerns about Dodd's participation in such a special program, in part, because he has a key role as chairman of the senate banking committee in overseeing regulations of mortgages, many of which were key contributors to the financial crisis. Dodd is also responsible for setting the Senate agenda for a major overhaul of bank regulation, a key component of which will be reform of the mortgage sector.

Countrywide ran an exclusive program for "Friends of Angelo," or F.O.A., named after the company's former chief executive, Angelo Mozilo, which provided "sweetheart" financial deals for special borrowers.

According to a letter to Dodd, the Connecticut senator told the ethics committee that he became aware that he had been placed in a V.I.P. program but said he was told that it offered heightened attention to service

(Excerpt) Read more at marketwatch.com ...


TOPICS: Crime/Corruption; Government; News/Current Events; US: Connecticut
KEYWORDS: 111th; bankingcrisis; boa; bribe; corruptelite; corruption; countrywide; countrywideloan; cultureofcorruption; democratscandals; dodd; doddscandals; elite; elitists; foa; friendsofangelo; injusticedepartment; mozilo; perks; probe; senate; specialtreatment; vipprogram
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Friggin crooks is there any justice?
1 posted on 08/07/2009 12:27:04 PM PDT by FromLori
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To: FromLori
Rarely in this life.
2 posted on 08/07/2009 12:27:54 PM PDT by Anti-Bubba182
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To: FromLori

The foxes determined that the henhouse was not infiltrated.


3 posted on 08/07/2009 12:28:34 PM PDT by ZirconEncrustedTweezers (Those who provide the least and demand the most have a voting majority.)
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To: FromLori

Fox guarding the hen house.


4 posted on 08/07/2009 12:28:41 PM PDT by Always Right (The Brown Shirt Media © is coming!)
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To: FromLori

Just what we make for ourselves at the ballot box I guess, because there is no say they would turn on one of their own now.


5 posted on 08/07/2009 12:29:10 PM PDT by Abathar (Proudly posting without reading the article carefully since 2004)
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To: FromLori
Isn't that special....


6 posted on 08/07/2009 12:29:33 PM PDT by darkwing104 (Lets get dangerous)
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To: FromLori

Whew - glad that’s settled. Now we can move on. For a minute I had thought Dodd was unethical.


7 posted on 08/07/2009 12:30:27 PM PDT by 2 Kool 2 Be 4-Gotten
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To: Abathar

Is anyone in america besides Criss Dodd buying this?


8 posted on 08/07/2009 12:31:08 PM PDT by musicalee
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To: FromLori

not until these idiots/criminals are held accountable


9 posted on 08/07/2009 12:31:15 PM PDT by SERE_DOC (My Rice Krispies told me to stay home & clean my weapons! How does one clean a phase 4 plasma rifle)
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To: FromLori

They investigated themselves and found they are innocent of any wrong doing.

Imagine if it were a Republican, I know, I know...


10 posted on 08/07/2009 12:31:41 PM PDT by poobear
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To: FromLori

This is Satire — Right?


11 posted on 08/07/2009 12:32:17 PM PDT by Red_Devil 232 (VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!)
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To: FromLori

bump


12 posted on 08/07/2009 12:32:29 PM PDT by lowbridge (It's not that liberals are ignorant, it's that they know so much that isn't so - Ronald Reagan)
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To: FromLori

If he was a republican, they would have thrown him out of the Senate and initiated a Justice probe.


13 posted on 08/07/2009 12:33:14 PM PDT by Old Retired Army Guy (tHE)
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To: musicalee

No, and I think most people see it for what it is too. All I can hope for is people have long enough memories to kick his butt out in the primaries.


14 posted on 08/07/2009 12:33:18 PM PDT by Abathar (Proudly posting without reading the article carefully since 2004)
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To: Red_Devil 232

No not at all remember this is no bZERO world


15 posted on 08/07/2009 12:33:52 PM PDT by FromLori (FromLori)
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To: FromLori

Crap


16 posted on 08/07/2009 12:34:14 PM PDT by mfish13
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To: FromLori

Gee, I am tho thurpwised at this.


17 posted on 08/07/2009 12:34:47 PM PDT by dforest (Who is the real Jim Thompson? I am.)
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To: FromLori
The committee, however, did scold the senior lawmaker for not being more careful in his dealings.

If he did nothing WRONG there was nothing to scold him over.

Just like there is no reason to work to make abortion (safe, legal, and) RARE if it is just a glob of tissue.

18 posted on 08/07/2009 12:34:59 PM PDT by a fool in paradise (There is no truth in the Pravda Media.)
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To: FromLori
Friggin crooks is there any justice?

Only if you're the low man on the totem pole like Jefferson.

Bawney Fwank, Franklin Raines and Chuck You need to go down hard

19 posted on 08/07/2009 12:35:41 PM PDT by Las Vegas Ron (Americans, just reading the bills and doing the jobs their representatives won't do)
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To: holdonnow; Bahbah; mware; rodguy911; STARWISE; Fudd Fan; eeevil conservative

Oh well, there goes the last branch.


20 posted on 08/07/2009 12:35:41 PM PDT by AliVeritas (Ez 38 Pray.)
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To: FromLori
At issue is whether Dodd and his wife knew they were receiving a high level of preferential treatment

I know nuthink!

21 posted on 08/07/2009 12:35:59 PM PDT by a fool in paradise (There is no truth in the Pravda Media.)
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To: FromLori
This is why Conrad got all over Issa for his investigation, because he knew the Senate (so called) Ethics Committee would allow him to violate any reasonable person's standard of honest, honorable behavior.

This is so typical, they all provide cover for each other. I don't care what this committee opines, Dodd got preferential treatment because of his position as senator, chairman of that committee, it's obvious to anyone with an uncorrupted brain.

22 posted on 08/07/2009 12:36:20 PM PDT by MozarkDawg
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To: FromLori

the fox is guarding the chicken coop. Senate and ethics are oxy morons.

Did anyone expect DODD to actually be indicted for his crimes???


23 posted on 08/07/2009 12:36:24 PM PDT by o_zarkman44 (Obama is the ultimate LIE!)
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To: a fool in paradise
Just like there is no reason to work to make abortion (safe, legal, and) RARE if it is just a glob of tissue.

Great point!

24 posted on 08/07/2009 12:37:28 PM PDT by Las Vegas Ron (Americans, just reading the bills and doing the jobs their representatives won't do)
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To: FromLori

25 posted on 08/07/2009 12:38:21 PM PDT by FTJM
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To: FromLori

Just in time for the dust to settle before the election.


26 posted on 08/07/2009 12:38:24 PM PDT by Califreak (My word calibrator's in the shop)
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To: FromLori
And the band plays on. The level of corruption in our government is not only appalling, but self sustaining.
27 posted on 08/07/2009 12:40:18 PM PDT by paul51 (11 September 2001 - Never forget)
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To: Califreak

Meanwhile Tom DeLay’s “ethics” case STILL hasn’t been brought to trial by the prosecutors.


28 posted on 08/07/2009 12:40:33 PM PDT by a fool in paradise (There is no truth in the Pravda Media.)
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To: FromLori
The committee, however, did scold the senior lawmaker for not being more careful in his dealings.

Foolish statement.

He was very careful in his dealings with Countrywide Financial Corp.

He was careful to make sure he used his position, influence and power to sqeeze them for the best sweetheart deal possible.

29 posted on 08/07/2009 12:40:44 PM PDT by Iron Munro (You can't kill the beast while sucking at its teat - Claire Wolfe)
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To: FromLori

Senate Ethics Committee Chairman: Barbara Boxer

Nuff Said!!!


30 posted on 08/07/2009 12:43:53 PM PDT by avacado
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To: FromLori

The United States Senate: The world’s most exclusive club (of crooks, thieves, perverts, mountebanks, charlatans).


31 posted on 08/07/2009 12:44:01 PM PDT by clintonh8r ("Seems fishy")
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To: FromLori

From now on, he promises to be good.

IMHO


32 posted on 08/07/2009 12:45:35 PM PDT by ripley
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To: FTJM

If the deals smells like sh!t
You must acquit


33 posted on 08/07/2009 12:47:59 PM PDT by TruthShallSetYouFree (Kenya tell me where Obama was born?)
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To: FromLori

What a surprise. But Dodd won’t get off so easily at the Judgement.


34 posted on 08/07/2009 12:50:48 PM PDT by beethovenfan (If Islam is the solution, the "problem" must be freedom.)
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To: musicalee
Is anyone in america besides Criss Dodd buying this?

Connecticut isn't. Dodd is wayyy behind in the polls to the lead GOP challenger, Simmons.

35 posted on 08/07/2009 12:51:07 PM PDT by kidd (Obama: The triumph of hope over evidence)
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To: Las Vegas Ron
Bawney Fwank, Franklin Raines and Chuck You need to go down hard.

Geeze...are you sure you don't want to rephrase that?

36 posted on 08/07/2009 12:53:43 PM PDT by Gay State Conservative (Christian+Veteran=Terrorist)
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To: FromLori

You have got to be freaking kidding me...what a farce.


37 posted on 08/07/2009 12:55:20 PM PDT by Dinah Lord
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To: FromLori
"The committee, however, did scold the senior lawmaker for not being more careful in his dealings."

Another fine example of equal justice under the law./sarc

38 posted on 08/07/2009 12:56:42 PM PDT by Heart of Georgia (BHO Administration = America-destroying thugs)
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To: MozarkDawg

Yes you are referring to this right?

http://online.wsj.com/article/SB124960476129713019.html


39 posted on 08/07/2009 12:56:53 PM PDT by FromLori (FromLori)
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To: kidd
Connecticut isn't. Dodd is wayyy behind in the polls to the lead GOP challenger, Simmons.

Watch for Hussein to call Dodd into the Oval Office and make him an offer he can't refuse....kinda like with Torrisilly.And the RAT who takes his place on the ballot will get 60% of the vote.

40 posted on 08/07/2009 12:56:56 PM PDT by Gay State Conservative (Christian+Veteran=Terrorist)
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To: Dinah Lord

http://online.wsj.com/article/SB124960476129713019.html


41 posted on 08/07/2009 12:57:38 PM PDT by FromLori (FromLori)
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To: FromLori

No! Really?!? He didn’t do a thing wrong! Well, there ya go. A paragon of virtue.

The British were saints compared to those in Washington...


42 posted on 08/07/2009 12:59:00 PM PDT by patriot preacher (To be a good American Citizen and a Christian IS NOT a contradiction. (www.mygration.blogspot.com))
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To: FromLori
Here is Dodd's spokesman making the announcement.


43 posted on 08/07/2009 12:59:33 PM PDT by kennedy (I'm a Kennedy with no experience or qualifications too! Where do I sign up for MY Senate seat?)
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To: TruthShallSetYouFree

"lewd, lascivious, salacious, outrageous!"

44 posted on 08/07/2009 1:01:10 PM PDT by FTJM
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To: Gay State Conservative

LOL....wouldn’t want to get ‘ol Bwney all worked up


45 posted on 08/07/2009 1:01:28 PM PDT by Las Vegas Ron (Americans, just reading the bills and doing the jobs their representatives won't do)
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To: Gay State Conservative

“Watch for Hussein to call Dodd into the Oval Office and make him an offer he can’t refuse....kinda like with Torrisilly.And the RAT who takes his place on the ballot will get 60% of the vote.”

Yep. Or maybe Dodd will simply resign to tend to his medical issues.


46 posted on 08/07/2009 1:02:03 PM PDT by Heart of Georgia (BHO Administration = America-destroying thugs)
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To: FromLori
No, that one is news to me, thank you. I refer to this thread I posted on yesterday:

Kent Conrad rips Darrell Issa investigation (whiny Democrat Alert)

Conrad has accused Issa of attempting to impugn his name in a GOP inquiry into the Countrywide mortgage scandal. Conrad said that the Senate Ethics Committee is the “appropriate forum to resolve this matter,” not Issa’s Republican staff on the House Oversight and Government Reform Committee.

This comment really chapped my hide, but now in view of this decision by the Senate Ethics (ho ho, ha ha) Committee, grrrr!!

47 posted on 08/07/2009 1:03:11 PM PDT by MozarkDawg
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To: FromLori
WHITEWASH!
48 posted on 08/07/2009 1:04:24 PM PDT by The Sons of Liberty (FUBO Kenyan Usurper Thug - DON'T TREAD ON ME!!!!!)
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To: ripley


I'll be good, I will, I will.
49 posted on 08/07/2009 1:09:36 PM PDT by eCSMaster
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To: FromLori

Senate Select Committe on Ethics members:
Democrats
Barbara Boxer, Chairwoman, California
Mark Pryor, Arkansas
Sherrod Brown, Ohio
Republicans
Johnny Isakson, Vice Chairman, Georgia
Pat Roberts, Kansas
Jim Risch, Idaho


50 posted on 08/07/2009 1:15:52 PM PDT by jamese777
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