Dodd, Conrad cleared in Countrywide probe

Source: The Hill

Dodd, Conrad cleared in Countrywide probe
By Susan Crabtree
Posted: 08/07/09 01:32 PM

The Senate Ethics Committee on Friday dismissed complaints against Democratic Sens. Chris Dodd (Conn.) and Kent Conrad (N.D.) over their participation in Countrywide Financial Corp.'s VIP lending program.

But the panel cautioned the senators that they should have "exercised more vigilance" in their dealings with the mortgage giant to avoid an appearance of preferential treatment.

“While the committee finds no substantial credible evidence as required by Committee rules that your Countrywide mortgages violated Senate ethics rules, the Committee does believe that you should have exercised more vigilance in your dealings with Countrywide in order to avoid the appearance that you were receiving preferential treatment based on your status as a Senator,” the committee wrote the senators in a letter dated Aug. 7.

The Senate Ethics Committee has spent a year investigating loans Countrywide made to Democratic Sens. Chris Dodd (Conn.) and Kent Conrad (N.D.) through the VIP program — operated under former Chief Executive Angelo Mozilo and known within the company as “Friends of Angelo."

Read more: http://thehill.com/leading-the-news/dodd-conrad-cleared-in-countrywide-probe-2009-08-07.html

That's a fact of life in this country.

Chances are, they paid more than a smart shopper from off the street.

I'm in the business. We do these VIP programs all the time. Smart marketing but probably no better deal, if not worse, than some schmuck off the street.

No Saudi Involvement...

Official reports do not always tell the truth.

What a bunch of BS.

The desire for a politics-without-politicians, a politics of immaculate conceptions, will now rob the Senate of a valuable member -- FISA filibuster and all.

Democrats, who should know better, will now elect Schiff instead, some by actually voting for Schiff -- "Hey, he's so rich, you can't bribe him!", some by not turning out. To punish the 'bankster' Dodd, they'll elect the real McCoy -- people on this board.

It's too late to save Dodd. Story on A1, retraction on A17.

IT"S NOT TOO LATE TO SAVE DODD!! The real Democrats in Ct. know that this was all a bunch of BULLSHIT !! You do realize that people with higher credit ratings, and higher income get better credit deals,...........RIGHT??? You don't have to be a Senator. Of course this has not only been proven fact, but truth, in my humble opinion! This is not directed at you, but your post gave me the opening.....Thanks!

I also had a Countrywide home loan which I paid off when I sold my home after my husband died. I know how things like this function. Thank God I was able to pay it off, because I'm sure I would have been in the same boat as Dan. I wasn't so lucky with my car note with GMC!! I asked them to refinance at a lower rate so I could afford to keep the car on my income alone. Their reply was....they couldn't do it. I would have to get financing from a bank or something and just pay it off. I struggled with the high payments for 2 more years, then told them to come get the car. I tell you all this because I understand Dan 's plight, and sympathise...............but what does all this have to do with Sen. Dodd???

:think: