Posted on 06/13/2008 12:04:17 PM PDT by doug from upland
CHRIS DODD SWEETHEART LOAN STORY
I just left a message for Justine Sessions, Deputy Press Secretary for Senator Chris Dodd, Chairman of the Banking Committee. Dodd was the beneficiary of an insider loan from Countrywide for his condo in which he paid no loan fees or points. His constituents could not get that loan. That stinks.
I let Justine know I was working on a story and wondered if, because of the controversy, will the senator pay off the Countrywide loan and get a new loan.
Perhaps I should not hold my breath awaiting a return phone call. If you would like to call and ask a question of Justine Sessions, Dodd's office is 202.224.2823. Someone might want to ask if Dodd will step down as chairman of the committee until the entire sub-prime controversy is solved.
And, no, I didn't make any comments about the waitress sandwich. It was difficult, but I behaved myself.
SPECIAL NOTE: On June 23, 1967, Senator Thomas J. Dodd, Democrat of Connecticut, was censured by the United States Senate for diverting $116,000 in campaign funds for his personal use. The vote was 92 to 5. The rotten apple didn't fall far from the tree.
You can still get a loan without fees and points but they pack it into a higher interest rate. You can get a lower interest rate by buying down the loan. That may make sense if you plan to stay in the property for some time.
How many Countrywide mortgage holders were forced into these predatory loans in order to cover the cost of the deals to Mr. Mozilo's "friends"?
How many children are now homeless because these mortgage holders were forced into foreclosure?
How many of these children are now obese because their family can't afford to serve them a nutritious diet?
How many of these children are now severely underweight because their family can't afford to serve them a nutritious diet?
How many of these mortgage holders are now facing foreclosure, because they can't afford the gas to drive to work?
...just taking a page from the Democrat playbook...
tsk tsk bump
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