In 2003 Countrywide placed Sen. Dodd in its “VIP” program that offered special rates to special people. Countrywide's motivation in providing special treatment to Sen. Dodd, a longtime member of the Senate Banking Committee and now its chairman, is of obvious interest.
The senator insists he got the same treatment any good customer of Countrywide would receive. The special treatment, he insists, had nothing to do with his influence over the banking industry, an industry that has brought the country to the brink of financial ruin through its reckless lending practices and investment schemes. Countrywide was at the head of that parade.
When the story broke three months ago, the senator's office pledged to release documents on the two mortgages. Seems simple enough, but they still remain under lock and key. On Wednesday Sen. Dodd indicated that's where they may remain.
”I'm not about to go through all that,” said the senator.
A Senate aide later said that the information will still be provided, but wasn't sure when.
The logical conclusion is that Sen. Dodd is stalling because the documents will prove embarrassing. If the senator wants to stop the questioning, he should be forthcoming now.Dodd has also taken over two million dollars from big banking lobbyists, the same ones that are responsible for destroying the economy.


Comments: 16
There comes a point in many instances when it is impossible to define the obligation of a public servant on such matters. Every one else in the nation is free to go around and ask the rate at varying places and then select the one that is lowest. When Senator Dodd does this we suspect that the lender knew who he was and chose to give him a preferable rate. But does he not have the right to shop for that rate?
If there is proof of any quid pro quo or similar action, that is another matter. Actual graft is unacceptable and should be prosecuted! But shopping for a rate and the lender deciding he wished to supply the loan at that rate don't sound to me like an evil conspiracy! I certainly try everything I can to get the very best rates on such things.
Also, in looking at received rates, one needs to know the credit score of the borrower. Only the borrower and his lender are entitled to that information.
Did the American public get a socialist bailout to help pay their bills? The corporate fascists that destroyed the economy got 700 billion plus to go rent resort spas did you?
Funny how people are brainwashed into strict party lines even as they are being dumped overboard.
I am a no body and I got a 4.75% rate on my mortgage in 2004, money was cheap then.
I think you make too much of this expected kinds of things that harm no one, yet you do not pay attention to voter stealing, crooked laws, danger to the republic from the fascist and so many serious threats to the constitution.
Now it is time to get serious and keep our eyes open for flagrant misconduct from the radical right, antiamerican nutty flavored conservative lost in the wilderness of their minds.
Why is nobody outraged at what Congress, particularly Dodd, Frank and others that refused oversight warnings on these companies while taking thier favors and money. Everybody wants a Wall Street head, some CEO, and rightfully so; but once again Congress and the leaders of these committees go unaccountable. At a minimum they should be replaced on those committees. Won't we even learn?
I'm not sure what party Dodd is connected to and don't really care at this point. If there is rel proof of him involved in wrongdoing, it should be prosecuted to the fullest extent of the law. As should anyone else if they take personally, a million or more dollars from a lobbyist!
I'm not on any banking committee and receive no special favors from anyone but I'm going to wait until there is a little more confirmed information available to actually hang the man. I know how things get blown out of proportion by people with half facts. I will not be a party to that premature condemnation.
What would satisfy you, strip him of everything he owns, public lashing in the nude and calling his first born ugly? I fully expect the appropriate authorities to address the matter in an appropriate manner. I also recognize that such justice often fails to ensue! But I believe in supporting the system we have and express our discomfiture at the polls on election day.
"He was in bed with "Countrywide" is a sever statement, the proof of which should unseat the man when it is proven. Although, I have no idea what "in bed with" actually means here. Was he sharing sleeping facilities with the CEO of Countrywide? Or is there something more specific to which you can direct me?
Men in power taking advantage of that power is an ancient tradition but it needs to be terminated in a modern society. Those who would serve need to realize there are no significant perks. And that they are under the scrutiny of the voters.
But I would like to see an actual trial where all the evidence can be presented, before dropping the guillotine!
"Has taken over two million in lobby money" is interesting, can it be proven? If so, why isn't he prosecuted? Or is that pending? Let's have more actual information on this, we've already memorized the accusations but can't convict on those alone.
BTW, is Dodd a Republican or a Democrat? Not that it matters in the least but just curious. And is there a law saying he must release his mortgage details to the public? One can dislike him for not allowing this but if there is no law then there is no crime. Many candidates withhold records that might or might not prove embarrassing. John McCain's war records for instance. President Bush's military records. But they didn't hesitate to try and use Kerry's against him.
I favor a lot of disclosure but we need active laws in place determining just what needs to be disclosed by whom before there is any meaningful complaint possible. Contact your legislator on this one!
Do you have a mortgage and if so, have you notified the media of all the details? I certainly have not! However, I cannot get a lobbyist to give me a damn cent! I need instructions in this skill, I guess.
As badly as I hate what Bush has done to the country, I remain unconvinced that any kind of criminal prosecution against him would succeed. It sounds tempting although he is almost out of office but I believe it would be a waste of time and taxpayers money. I assure you that I am not guilty of voting for Bush either time! And he has been largely as I expected before the first election.
I can research till hell freezes over and I cannot dig up the "proof" of Dodd's guilt, nor George Bush's either. I might find all kinds of "incriminatory" evidence claimed on the internet but we both know that is one of the most unreliable places on earth from which to derive facts or proof.
To really research it would require going to Washington, interviewing all the principals involved and studying all the records. That requires some kind of legal and subpoena authority which I don't possess. And without which I would be lying if I said I had proof.
There are lots of things done by persons in power that look really bad to us common people but when you really look at it, there is no law against it, ergo no crime!
On Bush, I'd have liked to see the man impeached a long time ago if the evidence of legal wrongdoing can be proven. "Abuse of power" and several other subjective criteria would never cut it though. Specific crimes would. At this point in time, he is so close to getting out that such an effort would not have time to come to fruition. If there are real and discrete crimes for which to account, he can be prosecuted by the authorities in the state where such crimes occurred.
There were presidents who's terms I did not live through but for everyone holding that office since Hoover, GWB has been the most damaging to our country!
In my eyes this economic meltdown is the fruition political left's grand scheme to socialize our free nation. Tell me I'm wrong as I watch institution after institution hand over their organizations for bailout money. This is the answer? Print money and hand it out like candy?
This is a disaster that hasn't even shown its full blown effects .
This reminds me of the 1970's so much that I can only hope that we come out of this with a Ronald Reagan incarnate .