Chris Dodd Knew He Was Receiving Preferential Treatment From Countrywide

  Countrywide Financial  is one of the companies that is considered to be at the heart of the mortgage meltdown. Chris Dodd received a special interest rate through Countrywide Fianancial although he has denied that he had any idea he was receiving preferential treatment.

  This story has disappeared from the public eye for over a year but now we are learning that Chris Dodd, who is chairman of the banking committee, did in fact knowthat he was getting preferential treatment from a company that has been accused of using predatory lending practices on people of less stature that Chris Dodd.

  One of Chris Dodd’s responsibilities is to fix the mortgage crisis and I would argue that with his sweetheart loan deal he is part of the problem and as such he could begin to fix the problem by resigning his chairmanship.

   The hypocrisy of Chris Dodd bemoaning mortgage companies for predatory lending while at the same tome accepting a sweetheart loan deal is breathtaking. He is part of the problem, not part of the solution.