Tue, 02/03/2009 - 9:18am — connecticut man1
Senator Chris Dodd released the details of his Countrywide mortgages. In a statement released with it he said that he would refinance the loans. But, please, pay no attention to this fact:
"Jackie and Chris have "decided to refinance (their) homes", which seems unremarkable, given that they had an ARM that guaranteed their rates for 5 years and the rates re-set last July or so, I gather. Who wouldn't at least try to refinance?"
h/t to ctblogger and greenpeas, with more commentary, videos and documents available at the link.
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i haven't really followed this one, CT. care to elaborate?
it's not surprising to me to find out that a senator may have gotten sweet deals on a major financial transaction. is that what this is all about?
Yeah.
Countrywide's A. Mozilo (Mozilo bailed with a golden parachute right before the SHTF for Countrywide) was found to have made a VIP list of people that all got sweetheart mortgage deals. Just remember what Dodd's committee position is (BANKING) and he has been quite nice to all of them, giving them the indentured servant credit laws, etc. and never mind the money that has gone directly to his family (through his wife's "directorships of finance and health industry junk) to the tune of about a million bucks.
It stinks to high hell. Right up there with what has been coming out on Daschle.