Posted on 06/13/2008 3:21:19 AM PDT by Liz
Two influential US senators got "VIP" loans from a subprime mortgage lender saving them tens of thousands of dollars. Democrats, Chris Dodd, Connecticut and Kent Conrad of NDakota, received highly favorable loans under "Friend of Angelo," a reference to embattled Countrywide head Angelo Mozilo, Condé Nast Portfolio reported. Dodd chairs the Senate Banking Committee; Conrad chairs the Budget Committee and is a member of the Finance Committee. Others who received "FOA" loans include Alphonso Jackson, HUD Secy under Pres Bush ( resigned in April), and Donna Shalala, Clinton's HHS secretary. The report came one day after Democratic heavyweight Jim Johnson stepped down as chief of Barack Obama's VP search committee after revelations he'd gotten Countrywide loans at very favorable rates.
FOAs paid lower fees, and if rates fell, VIPs got a free "float-down" while regular customers paid a surcharge. Dodd reportedly received two loans in 2003 - $506,000 to refinance his Washington town house, and $275,042 to refinance a Connecticut home....saving him about $70,000. The company also contributed $21,000 to Dodd's campaigns since 1997.......Conrad borrowed $1 million to refinance his vacation home, saving at least $10,000.
(Excerpt) Read more at nypost.com ...
Grrrrrrrrrr. So mad I could spit.
Two days after Bush awarded Shalala the Medal of Freedom...
Mozillo is such a crook. I guess he wasn’t smart enough to be a Mafia don, but he still made multi-millions by giving sweetheart deals to other crooks in Congress.
A trip to DC by US citizens with tar and feathers in tow.
These bums need to be kicked out forcibly.
The Medal of Freedom means nothing. It is Bush’s fault.
Well I can see there is NO culture of corruption on the democrats site ...Those evil republicans. lol
Just goes to show you, no matter how cynical I get it’s never enough to keep up.
These “bums” have become our Rulers and were nothing but Serfs!
Never fear sheelpe—— These are Democrats so nothing will come of it-—the media will let it die
Dodd responded, " Let them eat cake, er, I'll have a waitress sandwich."
Liz,
Here in CT Dodd will be lauded for this. The denizens of this little version of a Marxist state applaud any politician that “understands” the system.
America is still strong and free, not broken.
I have my doubts about Congress though.
Freedom ain't free, metesky. ;-)
“Mozillo is such a crook.”
Yes, the way he victimized those poor congressmen who took out loans with terms that they just didn’t understand - just like the industry did with millions of Americans.......it’s unconscionable.
” Dodd chairs the Senate Banking Committee; Conrad chairs the Budget Committee and is a member of the Finance Committee. “
No conflict of interest, or influence peddling goin’ on here! They should be forced to resign from these committees!
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