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.
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