Dodd's Mortgage Saga Takes A Strange Turn

Let's see if The Media follows up on this "response" one-half year later. Dodd rode out the election year presidential coverage and bad economy news, and now has "dummied up" claiming ignorance of VIP status. Simply unbelieveable.

C'mon Rick, he was waiting for a day when it would get buried with other news

I don't believe a thing Dodd says!

there alot going on in washington d.c

Senator Chris Dodd (D-CT), head of the Senate Banking Committee, played a major role in the mortgage meltdown that precipitated our current financial crisis. Not only did he take more money from Fannie Mae and Freddie Mac than any other politician, but NBC News reports that Dodd received a sweetheart mortgage deal from Countrywide Financial. To this day, Dodd refuses to release the HUD statement for the mortgage, despite promising to do so months ago.

House Banking Committee Chairman Barney Frank (D-MA) also played a significant role in the mortgage meltdown. Not only did he take numerous contributions from those affiliated with the GSEs

$800,000: the amount of "sweetheart" mortgages Senate Banking Chairman Chris Dodd (D-CT) received from Countrywide Financial, the details for which he has refused to release details despite months of promises to do so. Countrywide was once the nation's largest mortgage lender and linked to Government-Sponsored Entities like Fannie Mae and Freddie Mac. Their meltdown precipitated the current financial crisis. Just days ago in Pennsylvania, Countrywide was forced to pay $150,000,000 in mortgage assistance following "a state investigation that concluded that Countrywide relaxed its underwriting standards to sell risky loans to consumers who did not understand them and could not afford them."

$12,000,000: the amount of money provided to community bank OneUnited despite the fact that it did not qualify for funds, and was "under attack from its regulators for allegations of poor lending practices and executive-pay abuses." It turns out that Rep. Maxine Waters (D-CA), a key contributor to the Fannie Mae meltdown, just happens to be married to one of the bank's ex-directors.

$3,700,000,000:($3.7 billion) not to be outdone, this is the estimated value of various defense contracts awarded to a company controlled by the husband of Rep. Diane Feinstein (D-CA). Despite an obvious conflict-of-interest as "a member of the Military Construction Appropriations subcommittee, Sen. Feinstein voted for appropriations worth billions to her husband's firms ."

A Democratic Chairman of the House Ways and Means Committee, Charlie Rangel (D-NY), who is currently the subject of four separate ethics investigations. Rangel is alleged to have: violated rent-control laws; preserved a tax break for an oil company in exchange for a $1 million contribution; failed to pay taxes on $75,000 in unreported income; and solicited donations on his office letterhead.

John "Porky" Murtha (D-PA), the famed chair of the House Defense Appropriations subcommittee; a charity founded by a longtime Murtha aide has become a "funnel for money" to his campaigns from defense contractors and lobbyists who directly benefit from his decisions. A Taxpayers for Common Sense spokesman noted, "It's a real tangled web between the congressman, the nonprofit, the defense contractors and the lobbyists." Oh, as an added bonus, Porky's one of the infamous unindicted co-conspirators caught during the Abscam round up

Harry "Land Deal" Reid (D-NV), the Senate Democratic Leader who collected a $1.1 million windfall profit on a Las Vegas land sale even though he hadn't owned the property for at least three years. Reid also did not disclose to Congress an earlier sale in which he transferred his land to a company created by a friend and took a financial stake in that company. The AP learned of the land deal from a former Reid aide concerned that the deal had been "hidden from Congress."
this is the tip of the ice berge

@ John Paul Jones:
I too am watching these democrat crooks accumulating corruption at this break-neck pace........ I think the american people will finally see it too (although the mainstream media will never acknowledge it)

They are undoing themselves in record time, after receiving a historic shot at running the country.

Like Tom, Like Chris.

amused wrote:

@ John Paul Jones:
I too am watching these democrat crooks accumulating corruption at this break-neck pace........ I think the american people will finally see it too (although the mainstream media will never acknowledge it)
They are undoing themselves in record time, after receiving a historic shot at running the country.

this guy mike has things on his post
look it up

Greatest hero of our time is the democrat party.

llot there good information

The other people like Jim Johnson, who received Countrywide Loans under the VIP (Very Important Prick) program all ran from the public eye when their dealings were exposed. If nothing about these loans is unethical, why did Johnson resign from Barry Husseins Campaign staff? So far, everything Dodd has claimed, is substantiated only by people he hired...

Obama promised a change in Washington. He said "Washington is broken", and that it was time to "Get rid of Politics as usual"...Yet Dodd, Rangel, Murtha, Clinton, Kennedy, and especially Pelosi with her Gulfstream Jet at Taxpayers expense, all have had their Genitals sewn into the hems of Obamas garments...

Where is the transparency? Where are the ethics?

Americans got bamboozled by the Democraps...Dodd is so unqualifed to lead anything to do with banking, yet the whole pack of liars keeps trying to concoct this "Stimulus Package"...It is a sham, a fraud, and the whole lot of them should be burned at the stake!!!

I can recall our Sen.Dodd saying he was the poorest member of the senate.Where does he stand now?

Politicians Term Limits, anyone?????

Milt Friedman wrote:

C'mon Rick, he was waiting for a day when it would get buried with other news

Agreed. And he had the loan investigated because he needed to know just how cushy the deal was before going to the press.

And as for showing all those documents to the press, what good is that? Unless you're a real estate lawyer, you can't get any valuable information from a glance at reams of mortgage paperwork. Post them on the internet minus social security numbers and let lawyers go through it page by page.

Since mortgage rates are so low right now, I'm pretty sure Senator Dodd isn't taking a loss to refinance the loans.

amused wrote:

@ John Paul Jones:
I too am watching these democrat crooks accumulating corruption at this break-neck pace........ I think the american people will finally see it too (although the mainstream media will never acknowledge it)
They are undoing themselves in record time, after receiving a historic shot at running the country.

Uh, aren't we reading about this in the "mainstream media?"

Dear Courant Readers:

Wake Up!!! Jackie Dodd is a banker -- she knew exactly what she was getting, and so did the Senator. For the person responsible for oversight of Fannie Mae, and by extension Countrywide, which benefitted from Fannie and Freddie's dispersion of Countrywide's toxic paper, to take ONE PENNY from Countrywide -- never mind $75,000 -- should be cause for either resignation or indictment. Failing these -- we have seen in DC a decisive inability for Democrats (Geithner, Daschle, etc.) to take any responsibility -- it is time for us to throw this man OUT!

Notice how this Green guy gives Dodd a softball pass. No demands for resignation. Just "owes us more than this"
Dodd and Green both need to resign.

I wrote to Sen. Dodd last August asking that he immediately take himself out of all Senate matters about mortgages and have nothing to say about bailing out mortgage banks, etc. He gave me a botched, amateurish non-reaponse in December.

Mr. Dodd still appears to be a lightweight who can't keep up with events and can't distinguish what's serious from what's trivial. The delay was probably because he thought he was more guilty of taking favors than he was. That is, it seemed very likely to him that he had infact taken a special, favored deal.

He had to learn how bad the record was and needed legal help and a significant consultant to frame that portion of the record that he chooses to reveal in a plausable manner. The fact that it took six months only indicates that there are embers that could be blown into a full scale inferno if the mainstream doesn't continue to main stream on Obamatron explanations of character flaws as evidence of personal qualification!
Delay in doing what's right is no substitute for doing right.

Senator Dodd and Speaker Donovan are peas from the same pod. I don't trust either of them anymore.

Dodd needs to release the HUD closing statement and copies of the application which is where the fraud occurred.

In the end, he's no better than his father and at least he'll be gone in a year and a half.

I think the standard today is to be emabarrased by it but have President Obama say it's not a problem.

Gee, I remember when Connecticut had a squeaky clean image. Are there no honest politicians left.