Posted on 07/29/2009 9:38:33 AM PDT by khnyny
Two powerful Senate Democrats said Tuesday that they knew they got low mortgage-rate deals in a lender's VIP program but thought the special treatment was a "courtesy" or the same as "frequent flier" discounts.
Both vehemently denied any wrongdoing or ethical lapse in the mortgage deals, which came to light a year ago and triggered investigations by the Senate Select Committee on Ethics and the House Oversight and Government Reform Committee.
"I thought this was like a frequent-flier program," Sen. Kent Conrad, chairman of the Senate Budget Committee, said of the special benefits. "I thought nothing of it."
Sen. Christopher J. Dodd, chairman of the Banking, Housing and Urban Affairs Committee, said an account executive at Countrywide Financial Corp. told him that the VIP status was "nothing more than ... courtesy stuff."
A Countrywide official who handled the loans had said that both senators knew they got preferential treatment in the form of waived fees and points that likely saved them tens of thousands of dollars.
Robert Feinberg, who formerly worked in the mortgage giant's VIP section, said in testimony to congressional investigators last month that the senators were made aware of their status as VIPs or "Friends of Angelo," referring to Countrywide Chief Executive Officer Angelo Mozilo. The CEO played a central role in the subprime-mortgage meltdown, which included the downfall of Countrywide last year.
(Excerpt) Read more at washingtontimes.com ...
Yawn because they’re Democrats.
Courtesy stuff. Phftttttt
“I thought nothing of it.”
Of course you didn’t, because you felt entitled to it via your title and status as Senator.
So many of our congressional ‘critters’ receive preferential treatment for so long that they no longer realize it’s not ethical. They have become desensitized to the process. It’s an expected ‘right’, an expected perk for their positions.
Everyone knows they are Democrats with their hearts in the right place and only greedy Republicans would be worthy of investigation!
Culture of corruption!
“People like to give me money. Nice people anyway.”
The other day they actually said there was NO sweetheart deals.
Now they are mincing words and calling it a courtesy?
Why not just effing say it
IT WAS A KICKBACK.
ignorance of the law is an excuse? Since when?
Courtesy!!
That’s the biggest piece of BS I’ve ever heard.
They were public officials who took what ended up equaling money. Period. They were paid.
The arrogance is breathtaking.
I thought Dodd previously said he got NO special treatment.
How discourteous of you.
"Friends of Angelo"
like a frequent-flier program
nothing more than ... courtesy stuff.
I thought nothing of it.
—
FRom a Congre$$ where Congressional committee leaders don’t think there is any problem with not reading legislation before voting on it.
A Culture of Corruption? Oh yeah.
Pardon my rage, but what an "F'N" LIAR! Who in the world, having ever bought a house, would think that you get the opportunity to enroll in some kind of FF-like program! I say Kent Conrad is a liar....a bold-faced liar! Gosh...these congress-creeps take the rest of us for such idiots. SHAME ON YOU KENT CONRAD! SHAME ON YOU!
Give me ten thousand in freebies and I might change my words (cough)vote.
Almost correct. It is part of the Frequent Grafter program.
Those two are lying sacks of doo doo. As such they are not special. So are most of the congress. Sad.
Seems to be a disease shared on both parties
Congress — without a Senate committee hearing — with the aid of U.S. Sen. Phil Gramm of Texas. Gramm was chairman of the Senate Banking Committee, which had jurisdiction over the legislation he co-sponsored, but he chose to bypass his committee, and the bill was quietly tacked onto a "must-pass" appropriations bill late in the session. Gramm’s wife, Wendy Gramm, also aided Enron’s rise to power. As chairwoman of the Commodity Futures Trading Commission, she pushed through a key regulatory exemption on Jan. 14, 1993, just as she was about to leave office. Five weeks later, she joined Enron’s board of directors, where she served on the board’s audit committee and had access to key financial information about the company.
Under Federal ethics laws "courtesies" that bestow financial benefits on people who work in Congress are treated as "crimes."
Old Duke Cunningham was dished out quite a few "courtesies" prior to putting on the shackles and heading for the slammer.
Their feet should not touch the ground....and the GOP should be screaming 24/7 about it.....
That said, my guess is none of the 535 weasels in congress can stand to have their mortgages, car loans, stock purchases and others looked at too close.
In other words, it is standard operating procedure for them . SOP that is until they get caught. Then they just retire with their taxpayer paid pensions. Same old con: heads they win, tails we lose.
<<<”Two powerful Senate Democrats said Tuesday that they knew they got low mortgage-rate deals in a lender’s VIP program but thought the special treatment was a “courtesy” or the same as “frequent flier” discounts.”>>>
I worked for a university and a good part of the department’s budget was SBA money. We all had to sign a waiver agreeing we would not accept gifts in any form.
And in a perfect world both of these pompous elitists would now be spending some time in the confines of a 12 X 8 foot cell.
Link: In New Jersey, Ideal Conditions for Corruption (including Democratic domination)
Can you imagine what all the other congressmen are saying now that they’ve had to spend time in prison? They wish they would have thought of that.
Yeah, the Congress is a photo album of them.
A bankrupt government. Bankrupt of ethics, bankrupt of money.
Courtesy to what....ROYALTY? DEFEAT DODD and CONRAD!
Was this like the 10th mortgage Dodd had gotten from Countrywide?? Cause THAT”S how you get FREQUENT Flier Miles.
I can’t cite you chapter and verse but it is against the law for a government employee to take frequent flier miles.
Set an example, Dodd, and show us that taxes aren't just for the little guys.
Why don’t snakes bite attorneys? Professional courtesy.
Yes, the Feds got Al Capone (and others) on taxes.
Here’s another thought: RICO.
Btw, it was Leona Helmsley who said “only the little people pay taxes”. This was before her jail sentence.
Sounds like a confession to a crime. Of course, being a criminal is a campaign bonus for democrats.
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