More bad news for the Democrats, courtesy of AP. It involves Sen. Kent Conrad of North Dakota Sen. Chris Dodd of Connecticut. The latter is not only one of the principal authors of the Democrats' health care bill, but is up for reelection next year.Despite their denials, influential Democratic Sens. Kent Conrad and Chris Dodd were told from the start they were getting VIP mortgage discounts from one of the nation's largest lenders, the official who handled their loans has told Congress in secret testimony.
Both senators have said that at the time the mortgages were being written they didn't know they were getting unique deals from Countrywide Financial Corp., the company that went on to lose billions of dollars on home loans to credit-strapped borrowers. Dodd still maintains he got no preferential treatment.
Dodd got two Countrywide mortgages in 2003, refinancing his home in Connecticut and another residence in Washington. Conrad's two Countrywide mortgages in 2004 were for a beach house in Delaware and an eight-unit apartment building in Bismarck in his home state of North Dakota.
Robert Feinberg, who worked in the Countrywide's VIP section, told congressional investigators last month that the two senators were made aware that "who you know is basically how you're coming in here."
Dodd's problems are well-documented, but Conrad has some sleaze in his background. After winning his Senate seat in 1986, he vowed not to run for a second term. But late in 1992, the state's other senator died, and Conrad ran for that seat, which in his twisted logic was okay, since he was not running for reelection. Conrad won that seat, and resigned his old seat to take his new seat.
What a piece of work. Both of them.
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