Posted on 06/17/2008 11:19:55 AM PDT by Graybeard58
While liberal journalists have moved on from the Christopher Dodd-Countrywide Financial scandal, questions linger about the sweetheart loans he got in 2003 from Angelo Mozilo. At the time, Mr. Mozilo was chairman and CEO of Countrywide, which would become a leading player in the subprime-mortgage crisis and would benefit greatly if Congress passes Sen. Dodd's lending-industry bailout bill.
Does anyone believe Sen. Dodd when he says he and his wife did not "anticipate any special treatment" from Countrywide and were unaware they got it? A senator get treated royally everywhere he goes. He gets his jollies from the rump kissing of Capitol Hill staffers, lobbyists, special interests and journalists, and those who won't pucker up get no favors. As ranking member of the Banking Committee (he's now its chairman), he was keenly aware of mortgage rates in 2003. Yet he implausibly suggests Countrywide issued him and his wife two subprime loans totaling $781,000 and charged them below-market rates, waived $10,000 in fees and points, and ultimately saved them $75,000 simply because they "shopped around." Published reports said those who got "Friends of Angelo" discounts were told Mr. Mozilo had priced their loans so they knew they were being greased. Now Sen. Dodd claims Mr. Mozilo didn't say boo before saving the Dodds $75,000?
What's the difference between accepting sweetheart mortgages and unsolicited bribes? Mr. Mozilo was trying to buy Sen. Dodd's influence, and the senator accepted payment. Was Sen. Dodd's bailout bill that would shift $300 billion in non-performing mortgages — Countrywide alone holds $6 billion — from reckless lenders to taxpayers the quid pro quo payoff?
Did Sen. Dodd illegally accept special loans offered solely because of his position? Did he violate Senate rules that bar members from receiving gifts worth $100 or more a year from companies that have registered lobbyists?
In 1967, Sen. Dodd's father, then-Sen. Thomas Dodd, was censured for spending $116,000 in campaign cash on personal expenses. How does Sen. Christopher J. Dodd's use of an indirect, de facto $75,000 political donation to reduce his personal expenses differ materially from what his father did? For that matter, is it materially different from John G. Rowland accepting drywall, gutters and a hot tub while he was governor?
n Sen. Kent Conrad, D-N.D., who also has been implicated in this scandal, at first lied about it, but later admitted he called Mr. Mozilo and got a special rate on a $1 million mortgage. Sen. Conrad said he will donate his ill-gotten gains to charity in hopes of staving off criminal and ethics inquiries. When will Sen. Dodd come clean? When can Americans expect the criminal and ethics investigations to begin?
Dood has always been one of, if not the single most, corrupt member of the senate and that's saying a lot.
Like father, like son.
Ping to a Republican-American Editorial.
If you want on or off this list, let me know.
Dodd is shameless.
“Senatorial Scandal”
Scandal?
Nope.
No way. That requires an IdiotMedia with an enemies list to fan the flames in the style of Watergate or the Valerie Plame fiasco.
Dodd will probably get an award from those who should be seeing after the bess interests of tax-paying Americans.
Krauthammer had a great line on Fox last nite. “he said
they sell themselves for a few hundred dollars.”Congress
has become our rulers!
It is only going to get worse IMHO.
Didn’t Dodd also receive a sweetheart deal on an oceanside mansion in North Carolina? Seems I recall something about that about 4 or 5 yers ago. Maybe it was another senator, but Dodd comes to mind first.
Posted on 06/14/2008 7:36:15 AM PDT by doug from upland
The amount of corruption in the Democrat Party, and among individual Democrat politicians, is incredible. How much longer will the American public tolerate this kind of criminal behaviour?
http://findarticles.com/p/articles/mi_m1571/is_n8_v12/ai_18022523
Dood, Gephart? Same thing, corrupt liberal.
The end result is that with Dodd’s help, Countrywide gets to dump his bad loans on the taxpayer. We are so screwed on this one it’s legal to call it “Dodd’s Sex Scandal”.
Is the RNC leadership, whover that is, doing anything.
Corrupt, liberal HYPOCRITES!!
No, Graybeard, Chris is NOT his Father - Thomas Dodd (thou he was a LIBERAL) was in the Scoop Jackson wing of the party. Thomas was very Pro Military (because of the defense plants we had in Connecticut), Chris is ANTI-War. Yes Thomas was corrupt, but Chris is worse.
I needed a load so I can buy that house in Iowa! You know I couldn't use my own money.
Chris Dodd, Iowa's Third Senator!!
I know that but "Like son, like father" didn't sound quite right.
Did not Dodd get a SWEETHEART DEAL for a house in NORTH CAROLINS also????
Krauthammer is NAIVE to think they sell themselves for a few hundred dollars.....it's THOUSANDS AND MILLIONS from MANY, MANY, MANY PEOPLE!
Krauthammer is NAIVE to think they sell themselves for a few hundred dollars.....it's THOUSANDS AND MILLIONS from MANY, MANY, MANY PEOPLE!
This is what must be repeated again and again. Democrats had a field day hounding John Rowland out of office for accepting free renovations on his house. This is EXACTLY THE SAME THING.
Chris Dodd, ‘Rat scumbag.....
When he’s not making “waitress sandwiches” with Ted Kennedy he’s busy accepting BRIBES and screwing the taxpayers with the Countrywide bailout.
One of the most contemptible figures in our public life today. Prosecute the bastard and run him out of DC asap.
My, wasn’t Sen. Dodd the lucky guy to just happen to apply for a loan to Countrywide who just happened to have a special deal for politicians like Dodd who could help them?
Culture Of Corruption
Today, Dodd said “I thought it was just a courtesy.”
Yeah, like a mortgage company just waives $ 10,000 in fees every day.
These clowns have millions in campaign slush funds, don’t pay for anything, get their rear ends kissed by everyone in DC, and make $ 170,000 with free medical care.
And they have to call for “special favors”. SOBs.
Time for term limits—the stench of corruption is unbearable.
In May 2008, Mozilo made the news by accidentally hitting “reply” instead of “forward” in response to an e-mail from a CountryWide customer under mortgage stress. His reply described the customer’s plea as “disgusting”:
“This is unbelievable. Most of these letters now have the same wording. Obviously they are being counseled by some other person or by the internet. Disgusting.”
******
Mozilo writes to England (Mozilo’s consultant) about having to pay taxes when his wife travels with him on the corporate jet. In order “to avoid extraordinary travel expenses,” Mozilo complains that his wife “would have to travel commercial or not at all, which is not right nor wise.”
http://zangoceoblog.files.wordpress.com/2008/03/angelo_mozilo.jpg
At last month’s hearing, Mozilo testified that he had “to pay an enormous amount, a substantial amount of money, to have her on the plane.” But, ultimately, he conceded that he might have been making too much of a fuss. “In today’s world, I would never write that memo,” he said.
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