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LWW
06-16-2008, 03:40 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">WASHINGTON (AP) Senate Banking Committee Chairman Christopher Dodd reportedly received two mortgages under a special Countrywide Financial Corp. program that gave preferential interest rates to "friends" of the company's chairman.

A spokesman for Dodd, D-Conn., said Friday that the senator did not seek any special treatment.

"The Dodds received a competitive rate on their loans," spokesman Bryan DeAngelis said in a statement. "They did not seek or anticipate any special treatment and they were not aware of any."

The news of the loans comes as Dodd, who ran an unsuccessful campaign for the 2008 Democratic presidential nomination, is playing a high-profile role seeking to ease the nation's housing foreclosure crisis.

Conde Nast Portfolio magazine first reported Dodd's participation in a special program that awarded preferential rates to people considered "friends" of the company's chairman and chief executive, Angelo Mozilo.

Portfolio reported that Countrywide made two loans at special rates to Dodd in 2003. One was a $503,000 loan to refinance a Washington townhouse. The second was for refinancing a loan on a home in East Haddam, Conn.

Countrywide waived three-eighths of a point, or about $2,000, on the townhouse loan, and one-fourth of a point, about $700, on the second, according to internal documents cited by Portfolio. Both loans were for 30 years, with the first five years at a fixed rate.

The magazine said other participants in the company's "V.I.P." program included Sen. Kent Conrad, D-N.D., chairman of the Budget Committee and a member of the Finance Committee, 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.

Portfolio said that according to company documents and e-mails, the participants got deals that were better than those available to ordinary borrowers.

Fannie Mae's former CEO, Jim Johnson, resigned Wednesday as the leader of likely Democratic presidential nominee Barack Obama's search for a running mate after The Wall Street Journal reported that he and another former CEO, Franklin Raines, received low-rate home loans from Countrywide, a large originator of higher-risk subprimes mortgages and a major seller of home loans to Fannie Mae.</div></div>

Let's see.

Dems in congress threaten litigation under CRIA against mortgage lenders unless they don't make high risk loans in inner cities to unqualified applicants.

Then Clinton signs off on the removal of key regulations.

Then the lenders who are stuck with bad loans start a Ponzi scheme to pass off bad paper.

To do it they need cover in congress.

Six key Dems, several with oversight powers and all well connected, start getting personal sweetheart deals so that the problems aren't nipped sooner.

The whole thing blows up and the taxpayer is left footing the bill.

Who has the left blamed all along for this debacle? We all know the obvious anser to that.

Will they now heap their scorn on the truly guilty since they have been exposed?

I'm giving them their opportunity.

OH DEAR! (http://ap.google.com/article/ALeqM5hz9TqDTc2yyFDmE7Oe5CJu9-0EywD919849G3)

LWW

pooltchr
06-16-2008, 06:39 PM
How many of us can pick up the phone and call the CEO of a mortgage company and get them to work on our personal loans? How do you even find that phone number? Sen Conrad had the nerve to say he didn't even know he got a special rate. Now that it's come to light, he's going to donate $10500 to Habitat for Humanity to make up for it!
I'm so glad that the Dems have cleaned up congress as they promised they would during the last election!
Steve

nAz
06-16-2008, 07:09 PM
yeah they should flog him! and then replace him with a respectable republican.

seriously though what did he give back to that CEO, was anything found yet?

pooltchr
06-17-2008, 04:16 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: nAz</div><div class="ubbcode-body">yeah they should flog him! and then replace him with a respectable republican.

seriously though what did he give back to that CEO, was anything found yet? </div></div>

Well, since it was Countrywide, the largest lender in the middle of the sub-prime problem, one could draw the conclusion that the proposed bail-out might have been part of the whole deal. They are trying to get ahold of all the communications that went back and forth. To me, it's one of those cases where if there is smoke....
Even if nothing was offered in return, there is an obligation on the part of our elected officials to act in an ethical manner. After all, that was what the Dems used as their big talking point when they took over the majority of congress. Or was that just typical political BS?
Steve

LWW
06-17-2008, 05:52 AM
When will you ever learn?

If he was a republican no evidence would be needed. The left would call for his nuts and his party would force him out.

Since he's a dem, no evidence will be sufficient for the far left and the dems will bury their heads on it.

LWW

LWW
06-17-2008, 05:56 PM
The silence from the far left is deafening by it's absence.

LWW

mike60
06-17-2008, 07:08 PM
Anyone breaking the law needs to be caught and tried. As for the criminal element
in politics there were more than 200 members of the Reagan administration were
indicted and tried for stealing from the US. Anyone think Cheney is innocent of the crime of war profiteering? I've got a nice bridge you might want to buy.

All politicians are suspect.

mike60
06-18-2008, 06:50 PM
The silence from the right is expected. Bankrupt morally and spiritually.

mike60 vet&pissed off

Deeman3
06-19-2008, 07:19 AM
I think most of us agree all politicians are suspect.

Qtec
06-19-2008, 07:39 AM
OMG!

Q..........LMAO....priorities?

Gayle in MD
06-19-2008, 09:52 AM
The current Democrats certainly have a better record than the Republicans. I've never seen so many illegal activities, bribes, abuse of power, torture, wasted tax payers collars, borrowed debt, ruined national security, bad economy, outing covert agents, pardoning treasonists, hob nobbing with the likes of Enron, flying around in the Enron Jet, hiring incompetenents, leaving Americans with no food or water in a National Disaster, and it goes on and on.

But then, McCain will get votes from the nutty right. They only have one issue, how much taxes they have to pay. Lies, cheating, stealing, incompetence, war profiteering, no bid contracts for their friends, lying the country into an un-necessary war, none of that matters... /forums/images/%%GRAEMLIN_URL%%/crazy.gif

Bobbyrx
06-19-2008, 11:49 AM
Just to pick one " leaving Americans with no food or water in a National Disaster".......when might this have been? and don't give me Katrina because that didn't happen.

Deeman3
06-19-2008, 12:16 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Bobbyrx</div><div class="ubbcode-body">Just to pick one " leaving Americans with no food or water in a National Disaster".......when might this have been? and don't give me Katrina because that didn't happen.
</div></div>

<span style="color: #FF0000">Bobby.

Last night on Jon Stewart they had a couple of reporters from Iowa, one black saying, "Bush hates White People!"

/forums/images/%%GRAEMLIN_URL%%/smile.gif </span>

Bobbyrx
06-19-2008, 03:39 PM
He hates everyone doesn't he? /forums/images/%%GRAEMLIN_URL%%/sick.gif

LWW
06-19-2008, 04:51 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: mike60</div><div class="ubbcode-body">Anyone think Cheney is innocent of the crime of war profiteering?</div></div>
I do, and you have nothing to show otherwise.

LWW

LWW
06-19-2008, 04:53 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Bobbyrx</div><div class="ubbcode-body">He hates everyone doesn't he? /forums/images/%%GRAEMLIN_URL%%/sick.gif </div></div>
Bush blew out a speaker in my roadster.

LWW