Doubters who thought the new Obama administration's promise of "transparency" was just a political slogan seem to have been proven right in that the new Democrat majority in Congress continues to keep the misdeeds of Senate Banking Chairman Chris Dodd (D-Conn) under cover.
While Dodd has demanded that regulators get to the bottom of any crimes by Bernard Madoff, he has played a cat and mouse game in keeping the documents about his dealing with Countrywide Financial under wraps. What is known is that he got favored treatment from the subprime mortgage company in 2003 while at the head of the Banking Committee that regulates the industry.
Dodd had promised a number of times that he would provide the necessary documents and details of the loans. As of February 1, 2009, the documents are still not forthcoming. What is known is that Dodd and his wife financed two properties through Countrywide and got preferential rates and had fees waived on the loans. It was part of a VIP program that the company had for "friends of the company." (WSJ 1/30/2009)
First Dodd issued a denial and finally acknowledged that he was a "VIP". In June, 2008, he pledged to make all pertinent documents public "at some point." Meanwhile, Countrywide Financial loan officer, Robert Feinberg, told the Wall Street Journal that Sen. Dodd knowingly save thousands of dollars on the refinancing to two properties as part of a special program for the influencial. Feinberg said that he had internal company documents proving that Dodd knew he was getting preferential treatment as a friend of then Countrywide CEO Angelo Mozillo. (WSJ 01/07/2009)
Although investigators were told by Feinberg that he would provide those documents, the Senate ethics committee dilly dallies while Dodd continues as Chairman of the Banking Committee. Apparently, the "change" and transparency promised by Obama has not filtered down to the 111th Congress.
Comments
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Dodd is so crooked you could pick a lock with him... so much for the Hope and Change we can believe in... Ask the hundreds of people who the Clinton's swindled, who lost their life savings in the White Water scam, if they feel Hillary is a breath of fresh air.
*Bert
Bert: One of things that I wonder about is why the people of Conn. keep reelecting Dodd. This has been going for years, yet they keep voting him into office. It is unfortunate that there is not a successful third party because once people like Dodd are elected, they remain for years because incumbents usually win.
There is a growing grassroots movement here in CT to get rid of this guy. Check out www.theartfuldoddger.blogspot.com for a running commentary on all of Dodd's numerous issues.
CTVoter2010. Thank you for the website as it will help to build my research files on Dodd. Please keep sending me new material as you find it. The problem is that he is so entrenched that the Democrats will funnel so much money to him. It is one of the things that is putting our democracy in danger, challengers just can't match that of incumbents like Dodd.
Keep up the heat. It is difficult to remember such hypocrisy from an elected official. Dodd is a filthy liar and needs to go.
I agree Keep up the heat. It is difficult to remember such hypocrisy from an elected official!!
Barney Frank
Chris Dodd
Jail looks good for them!!
I agree Keep up the heat. It is difficult to remember such hypocrisy from an elected official!!
Barney Frank
Chris Dodd
Jail looks good for them!!
Just read that Dodd was wrongfully placed on Countrywide's VIP list. I'm sorry his hand was wrongfully caught in the cookie jar and that the dog ate his loan papers.
Some call them "sweetheart deals". I call them kick-backs.
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