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Dodd, Conrad: Mortgage Discounts Were 'Courtesy'
The Washington Times ^ | July 29, 2009 | S.A. Miller

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 ...


TOPICS: Breaking News; Crime/Corruption; Government; Politics/Elections; US: Connecticut; US: North Dakota
KEYWORDS: 111th; chrisdodd; conrad; corruption; countrywide; cultureofcorruption; democrats; dodd; economy; friendsofangelo; kentconrad; mozilo; perks; sweetheartdeals; vipprogram
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1 posted on 07/29/2009 9:38:35 AM PDT by khnyny
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To: khnyny

Yawn because they’re Democrats.


2 posted on 07/29/2009 9:39:57 AM PDT by Boiling Pots (Barack Obama: The final turd George W. Bush laid on America)
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To: khnyny

Courtesy stuff. Phftttttt


3 posted on 07/29/2009 9:41:04 AM PDT by sunny48
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To: khnyny
If you don't proposition and you aren't propositioned, but value changes hands, are you still a whore?

4 posted on 07/29/2009 9:41:35 AM PDT by the invisib1e hand (The revolution IS being televised.)
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To: khnyny

“I thought nothing of it.”

Of course you didn’t, because you felt entitled to it via your title and status as Senator.


5 posted on 07/29/2009 9:41:40 AM PDT by kenth
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To: khnyny

6 posted on 07/29/2009 9:43:15 AM PDT by avacado
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To: khnyny

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.


7 posted on 07/29/2009 9:43:20 AM PDT by Stand Watch Listen
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To: kenth

Everyone knows they are Democrats with their hearts in the right place and only greedy Republicans would be worthy of investigation!


8 posted on 07/29/2009 9:43:22 AM PDT by Boardwalk
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To: khnyny

Culture of corruption!


9 posted on 07/29/2009 9:43:29 AM PDT by charmedone (There is a right to health care but no right to be born?)
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To: khnyny

“People like to give me money. Nice people anyway.”


10 posted on 07/29/2009 9:43:50 AM PDT by dead (I've got my eye out for Mullah Omar.)
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To: khnyny
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.

That's not courtesy. That's bribery.
11 posted on 07/29/2009 9:44:07 AM PDT by allmost
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To: khnyny

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.


12 posted on 07/29/2009 9:44:30 AM PDT by Dubya-M-DeesWent2SyriaStupid! (Obama, the first ever 3 in a half year, lame duck TOTUS)
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To: khnyny
"frequent flier Liar " discounts
Fixed it
13 posted on 07/29/2009 9:44:35 AM PDT by NativeSon (got myself a Mrs on June 19, 2009)
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To: khnyny

ignorance of the law is an excuse? Since when?


14 posted on 07/29/2009 9:45:09 AM PDT by grandpa jones (I am Jim Thompson.)
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To: khnyny

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.


15 posted on 07/29/2009 9:45:28 AM PDT by xzins (Chaplain Says: Jesus befriends all who ask Him for help.)
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To: khnyny

The arrogance is breathtaking.

I thought Dodd previously said he got NO special treatment.


16 posted on 07/29/2009 9:45:44 AM PDT by exit82 (Sarah Palin is President No. 45. Get behind her, GOP, or get out of the way.)
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To: NoObamaFightForConservatives
The other day they actually said there was NO sweetheart deals.

Now they are mincing words and calling it a courtesy?


Yes, that's the money quote. So now it's evolved into a coverup.
17 posted on 07/29/2009 9:47:43 AM PDT by khnyny ("The demagogue is one who preaches doctrines he knows to be untrue to men he knows to be idiots.")
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To: allmost

How discourteous of you.


18 posted on 07/29/2009 9:48:13 AM PDT by Mr. Lucky
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To: khnyny

              "Friends of Angelo"

19 posted on 07/29/2009 9:48:51 AM PDT by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: khnyny

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.


20 posted on 07/29/2009 9:49:24 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard)
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