Posted by
Always To The Right on Friday, October 10, 2008 2:35:33 PM
With Congress grilling Wall Street executives over the financial collapse, why not have some of the real
culprits testify in their investigations? One of them is close at
hand; in fact, he’s pretending to lead the investigation while really
being one of its best targets. Senator Chris Dodd took massive amounts
in political contributions from Fannie Mae, Freddie Mac, and
Countrywide, while securing sweetheart deals from that same lender, all
while supposedly providing the oversight that somehow missed the rotten
struts under the entire subprime market. The Wall Street Journal wonders why Dodd’s asking questions rather than answering them
Dodd should get expelled first for his conflict of interest in
accepting his sweetheart loans from Countrywide in the “Friends of
Angelo” program. Dodd now claims he never knew that he saved thousands
of dollars in lower interest rates and fees, but Countrywide’s loan
officer, Robert Feinberg, scoffs at that notion. He personally
discussed the loans with Dodd, as he did with other FOAs, to make sure
he understood the bargain he was getting.