Dodd Man Out?

IBD Editorials ^ | July 29, 2009 | INVESTORS BUSINESS DAILY Staff

[Kaslin]

Corruption: Chris Dodd's teetering re-election chances weren't helped by news that the senator may have lied about not knowing he got preferential treatment as one of Countrywide Financial's Friends of Angelo program.

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Can you foreclose on a house of cards? Dodd, D-Conn., may soon find out after the official who handled his mortgages testified before both the House Government Reform and Oversight Committee and the Senate Ethics Committee that Dodd did in fact know he got sweetheart deals from a company that went on to lose billions of dollars on home loans to credit-strapped borrowers.

As the No. 1 recipient of campaign contributions from Fannie Mae and Freddie Mac, co-conspirators in the housing market collapse, Dodd had no trouble safeguarding his assets.

While head of the Senate Banking Committee that oversaw Countrywide Financial, he got a deal from Countrywide as a "friend" of founder and CEO Angelo Mozilo. He was able to take out two mortgages with no closing costs attached, at fixed rates of 4.25% and 4.50%, something unavailable to most homeowners.

Dodd has claimed that he had no knowledge of any preferential treatment from a man and a company known for preferential treatment of its favorite customers, refinancing his home in Connecticut and another residence in Washington.

Also in on the sweetheart deals was Sen. Kent Conrad, D-N.D., chairman of the Senate Budget Committee. His two Countrywide mortgages in 2004 were for a beach house in Delaware and an eight-unit apartment building in Bismarck, capital of his home state.

[Kaslin]

Funny how criminals always claim they are innocent

[Kaslin]

[bareford101]

it usually works for politician criminals...

[Rome2000]

Indict this socialist son of a bitch and the horse he rode in on.

Where is the GOP calling for a special prosecutor everyday of the week like the socialists did when they were in the minority?

[mathurine]

Them are just peckerheads, yankee style. Time for them to be kept home so they’ll quit runnin’ with a crowd they can’t keep up with.

[jazusamo]

Dodd has a problem with both ethics and honesty, and the voters of Connecticut are starting to catch on.

Let's hope they catch on, he should be charged and unavailable to run again from a prison cell.

[muir_redwoods]

Chris Dudd is as crooked as his old man.

[Clintonfatigued]

I hope he doesn’t pull a Torcelli and pull out of the race. He’s our best chance at winning.

[Harley]

Chris Dodd is about as popular as Pelosi. Not too many people will miss that horses arse if he gets kicked to the curb. Him and his old man are two senators that will never have a dam named after them. Think about it. Dodd Dam.

[Aggie65]

We need to make it a “Hanging Offense” for all Senators or Congressmen/Congresswomen to increase net wealth during their term of office. The day they are elected, their net worth is compiled and if it increases more than inflation during their term (limited to 6 yrs in Senate, and 4 yrs in House), they are hung from the closest tree. No appeal, no clemency just a short drop ad to be left hanging their for 7 days.

[Frantzie]

Man I played the re-fi market about as well as possible but it had some luck involved. I did not pull money out to raid equity either. I got a 15-year fixed probably back in 2005 or 2006 at 4.75% and I think that was about as low as possible. This was not a jumbo because it was paid down a lot.

No way anyone could get 4.25% with no closing costs. If he had a jumbo it would be even more impossible.

[SunkenCiv]

Dodd, Conrad: Mortgage Discounts Were ‘Courtesy’
The Washington Times | July 29, 2009 | S.A. Miller
Posted on 07/29/2009 9:38:33 AM PDT by khnyny
http://www.freerepublic.com/focus/news/2303657/posts

[Raycpa]

[Raycpa]

no knowledge of any preferential treatment

[Political Junkie Too]

Dodd, D-Conn.

-PJ

[SunkenCiv]

I think the stress and strain of being exposed as a crook and corrupt fraud will kill him. And then CT will vote him another term.

[headstamp 2]

10-1 this idiot is re-elected with room to spare.

[JrsyJack]

Forget about the special prosecutor. Holding a below market rate loan generates taxable income based on IRS determined tables. Where is Timmy boy? Dodd should be indicted for tax evasion if he didn't declare the income and for perjury if he did and is lying about it now.

[Lizavetta]

"Look into my eyes. You are getting sleepy. You are becoming forgetful. You are falling under the spell of my imperious gaze and senatorial tones. You are no longer curious as to why my eyebrows don't match my hair....you are getting sleepy...."