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?
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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