Did You Know...

   

The inartful Dodd-ger

Share
By Michelle Malkin  •  July 21, 2008 10:01 AM

Unscrupulous borrower Sen. Chris Dodd still won’t come clean on his special home loan deal. And folks in Connecticut aren’t letting him off the hook.

Kevin Rennie turns up the heat on The Dodd-ger in the Hartford Courant:

I took the Dodd challenge, and the senator won’t like the result. Several days after news broke last month that Sen. Christopher J. Dodd and his wife received significantly reduced interest rates on more than $800,000 in mortgages from Countrywide Financial, Dodd taunted reporters to look at the rates. He claimed he got a deal available to any other borrower. He was wrong.

Dodd won’t provide any information to support his claim. He still has not. He denies knowing he was among the privileged on Countrywide founder Angelo Mozilo’s exclusive “Friends of Angelo” list. Eventually, Dodd admitted he knew he received VIP treatment from Countrywide on mortgages on his homes in Washington, D.C., and Connecticut.

Though he said he’d release documents associated with the transactions to the public “at some point,” Dodd continues to refuse to let his constituents see the secret details of two deals that will save him more than $70,000 over the life of the loans.

Some embarrassing devils must live in the details of the records Dodd refuses to release. Dodd got great deals from Countrywide, and checking the rates confirms it. The senior senator didn’t issue an easy challenge. The 2003 loan on his D.C. property, purchased a few years before from his old friend, Rep. Rosa DeLauro, was for $506,000. That’s a “jumbo,” more than the maximum of a conventional loan, and records on those interest rates aren’t widely available.

Curiously, Sen. Dodd has not produced a survey of interest rates available at the time he obtained his mortgages. The chairman of the Senate Banking Committee could get the information if he thought it would confirm his loud claim that it’s outrageous to think he got special treatment from Countrywide.

Meanwhile, Beltway buzz continues to surround the possibility of Dodd as Obama’s VP pick.

Again, some Connecticut folks aren’t buying it. And that includes a prominent Democrat in CT who has one word for Dodd as VP: “Stupid.”

Many Connecticut Democrats rallied around U.S. Sen. Christopher Dodd in his race for the presidency, and now many of the top officeholders – such as Attorney General Richard Blumenthal and Secretary of the State Susan Bysiewicz – support the idea of Dodd serving as the vice presidential candidate on the Democratic ticket with U.S. Sen. Barack Obama.

But not Edith Prague.

The outspoken Democratic state senator from Columbia supported U.S. Sen. Hillary Clinton for president, and she thinks that Clinton would be the best choice for the No. 2 spot under Obama.

“I think Obama would be stupid at this point to put [Dodd] on the ticket,” Prague said. “This mortgage deal. Give me a break.

Posted in: Subprime crisis