Posted on 06/13/2008 7:54:09 PM PDT by mdittmar
When Senator Kent Conrad wanted a mortgage for his beach house,he turned to a Washington insider, Johnson, former head of Fannie Mae, the government mortgage giant, who then put the senator in touch with Angelo Mozilo, chief executive of the mortgage lender Countrywide Financial.
The ensuing telephone call between Mr. Conrad of North Dakota and Mr. Mozilo led to two Countrywide mortgages, including one in which the company bent its rules to give Mr. Conrad a loan.
Those loans are among a number of Countrywide mortgages at the center of an examination into whether a number of top politicians in Washington members of Congress, the cabinet and celebrated advisers received favorable deals from a company whose lax lending standards are at the center of the subprime mortgage crisis.
This week, Mr. Johnson, whom Mr. Conrad turned to for help, was forced to step down as head of Senator Barack Obamas vice-presidential selection committee in part over Countrywide home mortgage loans that Mr. Johnson had received at favorable rates.
At the center of the scrutiny are the activities of Countrywides V.I.P. program, also known as the Friend of Angelo program, in which Countrywide appeared to bend its lending rules for prominent people. Now, many of those receiving Countrywide home mortgages say they were not aware the company might have been working behind the scenes to give them favorable loan terms.
Senator Christopher J. Dodd of Connecticut, chairman of the Senate Banking Committee and a leader in the effort to help homeowners caught in the subprime mortgage crisis, denied on Friday that he received preferential treatment for his two Countrywide loans.
(Excerpt) Read more at nytimes.com ...
Impeachment!!!!
Stock tip: Buy Home Depot and Lowes. Im headed out for a pitchfork for the march on Washington that I know is coming soon to remove these phony baloney crooks.
For Mr. Dodd, who is a LSOS..
‘Caught’? Hah! Elected Democrats are immune to criminal prosecution, just ask Wm. Jefferson of LA., who had $90,000 in marked cash in his freezer and thumbs his nose at the judicial system. There is not such thing as a criminal democrat. Ted ‘the swimmer’ proved that decades ago. It has only gotten worse. The democrat party is surfing on the blood of aborted alive unborn children ... the demons protect them, now.
The SANCTIMONIOUS Kent Conrad caught with his ethics down?
Ya just have to love it.
He should resign or stand impeachment.
And CHRIS DODD, the other half of Ted Kennedy’s now famous waitress sandwich?
Oh, be still my heart!
Democrat Congressmen playing the “who me?” role? They declare their expertise by making laws for us but know nothing about the subject. They didn’t know they got preferential treatment? What planet to these guys live on.
“many of those receiving Countrywide home mortgages say they were not aware the company might have been working behind the scenes to give them favorable loan terms.”
Bwahhh, ha, ha, ha! Please stop! I can’t breath. My ribs are about to explode.
What is wrong with the Dakotas? 3 of 4 Sens are RATS.
Politicians benefitting financially from their office and connections? No Way!!!!
/sarcasm
Kent CON-rad’s Vacation home was a MILLION DOLLAR MORTGAGE@!!! VACATION HOME of a MILLION DOLLAR MORTGAGE!!! geesh.
Chris Dudd is up to his short little neck in CORRUPTION!!!! INVESTIGATE!!!
Alphonso R. Jackson served as President Bush's housing secretary from 2004 until March 31, 2008, when he resigned in the face of investigations into whether he improperly steered hundreds of thousands of dollars in government contracts to friends in New Orleans and the Virgin Islands.
Mr. Jackson was the first leader of the federal Department of Housing and Urban Development to arrive at the post with a background in running public housing, having served as president of the Dallas housing authority. He was the federal agency's deputy director from 2001 to 2004.
Doesn’t the paperwork say “VIP LOAN”???
For SOME reason the HUD guy is ALWAYS CORRUPT, no matter what admin.
Dudd and AON-rad need to RESIGN!!
“Doesnt the paperwork say VIP LOAN???”
Please, have mercy, my eyes are tearing so bad from laughing, I had to let my seeing eye dog type this response.
Not going to read anymore.... NO-OBAMANATION, it will never end until we create a 3rd party.
A new one, that is not Libertarian, Independent, ect.
Something completely different.
We must save our grandchildren from this mess.
I respect Sen McCain for his service to our country, not lip service by me, but he is not the answer.
Obama should change his name to Barrack H. Obama-Soros.
What can be done?
Yeah I know a rant, has nothing to do with the title....
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