BREAKING: Sen. Kent Conrad (D-N.D.) to announce retirement Tuesday, sources say

Washington Post ^ | Washington Post

[sunmars]

Question is why has he retired..various outlets reporting Conrad had already begun radio ads for 2012.

Retired or Pushed?

http://www.rollcall.com/news/-202187-1.html

[kcvl]

most influential -- and intellectual -- policy makers

Conrad married Lucy Calautti, a lobbyist for Major League Baseball.

The AFL-CIO announced they will fund a primary challenge against Conrad in 2012 if he continues to oppose a "public option".

Conrad was one of only four Democrats to vote in favor of confirming Judge Samuel Alito to the Supreme Court.

In June 2008, it was reported that Senator Conrad had received mortgages on favorable terms for a second home and an apartment building due to his association with Countrywide Financial CEO Angelo R. Mozilo. Conrad acknowledged that he spoke with Angelo Mozilo, the Countrywide CEO, by phone. In an April 23, 2004, email about one of Senator Conrad loans, Mozilo encouraged an employee to “make an exception due to the fact that the borrower is a senator".

[GOP_Party_Animal]

I’m not so sure Wrigley would run. He’s got a young family and a nice “in” to the governorship when Dalrymple decides to retire.

[Eva]

Was Conrad in a position of influence regarding the Countrywide?

[GOP_Party_Animal]

Strangely, the Conrad '12 campaign has been running ads to counter negative ads already running against him. In his ads, they cite sources that call him an economic genius.

Yeah, right. If I can balance my checkbook, I'm already more of a genius than him.

[Gumdrop]

Hi from neighboring Minnesota. Do the ND GOPers have any person available to run for this senate seat? Perhaps someone in the state legistlature or a GOP mayor somewhere?

The problem that ND had in the past decade was two Democrats elected to the US Senate & one US Rep as well - and I wonder if it was because of all the liberals in Fargo and Grand Forks who were affiliated with the two major universities there.

I know the ND people are the salt of the earth, so to speak, and their natural inclinations would be expected to be conservative.

I am wondering who might come forth as a strong conservative voice to run for this open senate seat?

[Oldpuppymax]

TRANSLATION: Since I’m going to get my A$$ kicked in 2012, I’ve decided to spend more time with my family!!!

[max americana]

That was one of the most ass-kissing articles written for a departing Rat’. Coming from the ComPost’, it simply means Conrad is a King Rat’ and good riddance.

[almcbean]

I feel a song coming on:

Another one bites the dust
Another one bites the dust
And another one gone, and another one gone
Another one bites the dust
Hey, I’m gonna get you too
Another one bites the dust

[hal ogen]

Bwaaaahahahahahahahahahahahaha!

[kcvl]

Committee on Finance

Subcommittee on Energy, Natural Resources, and Infrastructure

Subcommittee on Social Security, Pensions, and Family Policy

Subcommittee on Taxation, IRS Oversight, and Long-Term Growth (Chairman)

[Red_Devil 232]

He plans on serving out his term.

[KansasGirl]

I’d assume this means he plans to vote against any repeal of the healthcare takeover.

[kcvl]

Kent Conrad, Democrat from North Dakota, chairman of the Budget Committee and a member of the Finance Committee

Conrad obtained a $1.16 million loan from Countrywide in 2002 to buy his vacation home, then refinanced twice through the company. Portfolio reported that an internal e-mail from Mozilo instructed an employee to give Conrad a 1-percent discount off his interest rate on his 2004 refinance of $1.07 million, a savings of about $10,000 a year in interest payments.

Conrad said the terms he received each time he did business with Countrywide were no better than market rates, particularly given that he had good credit and a spotless payment history.

But he said his former loan officer has since acknowledged to Conrad that Countrywide dropped the rate a full percentage point.

“If they did me a favor, they did it without my knowledge and without my requesting it,” Conrad said. “It’s an appearance issue, but in terms of substance, I have not done one single thing wrong here.”

‘The borrower is a senator’

Countrywide also made an exception in lending Conrad $96,000 in 2004 to buy an 8-unit apartment building from his brothers. The company had a policy of only providing loans for buildings of four units or fewer.

“They said they frequently made exceptions, especially for good customers, and I was a very good customer,” Conrad said.

An internal e-mail from Mozilo, however, said the exception was “due to the fact that the borrower is a senator,” according to the Portfolio report.

other participants in the company’s VIP program included former Secretary of Housing and Urban Development Alphonso Jackson, former Secretary of Health and Human Services Donna Shalala, and former U.N. ambassador and assistant Secretary of State Richard Holbrooke.

http://www.msnbc.msn.com/id/25140560/ns/politics-capitol_hill/

[kcvl]

Both senators were VIP borrowers in the program known as "friends" of Angelo. Angelo Mozilo was chief executive of Countrywide, which played a big part in the foreclosure crisis triggered by defaults on subprime loans. The Calabasas, Calif.-based company was bought last July by Bank of America Corp. for about $2.5 billion.

Mozilo has been charged with civil fraud and illegal insider trading by the Securities and Exchange Commission. He denies any wrongdoing.

Asked by a House investigator if Conrad, the North Dakota senator, "was aware that he was getting preferential treatment?" Feinberg answered: "Yes, he was aware."

[SoFloFreeper]

2 potential CONSERVATIVE pickups this week....

1. TEXAS may finally get a reliable fiscal/social conservative as Kay Bailey has announced her retirement. (though her lifetime ACU rating is 89.8)

2. NORTH DAKOTA has a chance to finally give America a break. CONRAD has a lifetime rating of 19, and DORGAN has a lifetime rating of 16.

I like the GOP’s chances in 2012.

Maybe they can ALSO replace these RINOs in 2012:

DICK Lugar of Indiana
O-LIMP-ia Snowe of Maine
Scott BROWNnoser of Massachusetts

Wouldn’t it be NICE to see these three replaced with people who love the Constitution?

Also in the CROSSHAIRS for ELECTORAL DEFEAT in 2012 should be these vulnerable Demon-rats:

BILL Nelson, (’rat of Florida)
D. STABENOW (’rat of the extremely unemployed MICHIGAN)
Claire McCaskill (Obama worshiper of MISERY)
Jon Tester (barely won as a RAT in Montana of 2004)
Ben “Payoff” Nelson (Nebraska’s shame)
Sherrod BROWN (another liberal BROWNnoser...from Ohio)
B. Casey JUNIOR, (Pennsylvania numbskull)
Jimmy Webb (pretends to be a conservative Dem in Virginia)
Herb Kohl (multimillionaire from Wisconsin)

[Eva]

The fact is that banking policy is flexible. There are no hard and fast rules about rates or what type of buildings loans are made on. The rules are only guidelines. The problem that arises is that the same Congressmen that were receiving special treatment, wanted that special treatment extended to everyone, whether they qualified or not.

It’s a simple fact, the more money you have, the more money the bank will loan you and the better the rate, too.

[TYVets]

Conrad sees the handwriting on the wall and retires

[Vendome]

Likely. What’s his downside.

[Maine Mariner]

A former governor, Schaffer, would be a great candidate.