Senator Chris Dodd Caught in the Culture of Corruption
Cross posted on Grizzly Groundswell
The chairman of the Senate Banking Committee, Senator Chris Dodd has been receiving preferential treatment on loans that he has taken out through Countrywide. You remember Countrywide don’t you? Countrywide is one of the “big bad predatory loan” companies that is now considered to be at the heart of the mortgage crisis. That is if you refuse to blame the people that took out the loans that they couldn’t afford.
The chairman of the banking committee is getting special treatment? Naturally he denies any wrongdoing.
“As a United States senator, I would never ask or expect to be treated differently than anyone else refinancing their home. This suggestion is outrageous and contrary to my entire career in public service,” Dodd said in a statement.
“When my wife and I refinanced our loans in 2003, we did not seek or expect any favorable treatment. Just like millions of other Americans, we shopped around and received competitive rates.”
He is in the VIP loan program at Countrywide,also known as the FOA program, The Friends of Angelo program (Angelo is the CEO), and he didn’t know this would give him a special rate? I declare BULLSHIT!
This all comes out when Dodd is getting ready to introduce a huge federal taxpayer bailout of the people who spent over their heads. How ironic is it that as Dodd is preparing to make us pay for other people’s mortgages he was getting a break on his?
There has to be a congressional hearing on this. We must demand it. Arlen Specter is wasting time trying to find out if his Steelers got screwed by the Patriots, there have been two congressional hearings on steroids in baseball, the oil companies have been grilled, the polar bears have been named endangered, and we are supposed to believe this isn’t a big enough scandal to investigate? Once again I declare BULLSHIT!
Countrywide had a sweetheart deal with Fanny Mae and speculation on the news tonight is that Countrywide was looking to buy some protection through the sweetheart deals to not only Chris Dodd but other senators (mostly Democrats).
This needs to be looked into. This man is the chairman of the Banking Committee in the senate, as well as a former presidential candidate and many believe the front runner to the vice presidency. Not to investigate this would be criminal in itself.
America's Watchtower 
While Dodd gets a sweetheart deal from Countrywide, he has made sure that the minorties will not get a home. He has put ,into the new housing bill ,information that will eliminate the Down Payment Assistance program for the low income. He is the cause of this and the loss will be over 800 billion dollars in the next 4 months not to mention the number of low income families that will not be able to purchase a house. His motto is NMMNH. No more morities in new homes. This is not a moral, ethical and honest man and should not be in our Senate. He
hurts people and he is arrigant as well. This step will put many builders, and Mortgages companies out of business which seems to be his goal. He is just not that bright.
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you declare BULLSHIT? i call bullshit on YOU!
i am a nobody college professor in the midwest who bought a condo in 2003. the rate quoted to me for a $275K loan was 4.5% but i bargained (got a competing offer at the same rate) and got a quarter percent discount. just like dodd.
if dodd’s so-called corruption got him the same deal being offered to a joe like me, where is the corruption?
i’ll tell you where: it is with ideologically motivated, morally bankrupt keyboard jockeys like you pretending to be journalists while blogging in their bath robes, who will take any road no matter how low to sling mud, begging for attention and ad revenues.
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I never claimed to be a journalist and I don’t wear a bathrobe. Not only that but this is a free blog, I get no ad revenues.
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