Saturday, January 10, 2009

Will Ill’s Sen. Burris Investigate Countrywide’s Sen. Dodd?

Senate Dems have figured out they can’t get away with not seating Illinois Gov. Rod Blagojevich's appointee to fill President-elect Barack Obama's Senate seat.

So will Illinois’ new Senator, Roland Burris, investigate that scoundrel from Connecticut, Senator Chris Dodd?

I don’t think so. But Burris and his fellow Senators should.

Yesterday the WSJ explained why - -

With the opening of the 111th Congress yesterday, all of Washington is tingling with the allure of a fresh start. Not so fast. We've got some leftover business from the 110th Congress -- namely, Chris Dodd's July 2008 promise to release the details of his sweetheart loans from Countrywide Financial.

The Connecticut Senator got favored treatment from the subprime mortgage purveyor, even as he was a power broker on the Banking Committee that regulates the industry.

When the news broke, the Senator first denied that he sought or expected preferential treatment.

He later admitted that he knew he was considered a VIP at the firm but claimed he thought it was "more of a courtesy." He also promised the Connecticut press that he'd come clean with the documents and details of the loans. But six months later -- nada, zip, nothing.

The rest of the press corps may have moved on, but we'd still like to know.

All the more so because former Countrywide Financial loan officer Robert Feinberg told us last fall that Mr. Dodd knowingly saved thousands of dollars on his refinancing of two properties in 2003 as part of a special program for the influential.

Mr. Feinberg also reported that he has internal company documents that prove Mr. Dodd knew he was getting preferential treatment as a friend of Angelo Mozilo, Countrywide's then-CEO, and Mr. Feinberg has offered to provide those documents to investigators.

[Mr. Dodd] will now play a lead role in drafting legislation affecting the very business that gave him preferential treatment, yet he still refuses to release the mortgage documents that would illuminate this treatment. (emphasis added) …

We suspect there's at least one habit of the 110th Congress that won't change in the 111th: The Members think they can get away with anything -- and usually do.

The entire WSJ editorial’s here.


My comments:

Most of the press corps has moved on because they hate to cover a story like this when the Senator’s a member of their own party.

If Dodd was a GOPer they’d be swarming like flies after honey.

But Dodd’s a Dem so he’s going to “fix the mess in Washington” he helped create.


Anonymous said...

Don't hold your breath waiting for an investigation of Dodds - in fact, I would wager that a real investigation of Freddie and Fannie will never occur either - principle reason, there will be no desire on the part of the Democrats to air their dirty linen of Dodds, Gorelick, Raines, etc. Look for a similar fading away of any action on Charlie Rangel. Just as William Jefferson in Louisiana (he of the freezer full of cash) was allowed to slide by (thank God that the voters of Louisiana finally had had enough), so too will the above named crooks. Keep in mind the mantra - Republicans are the party of sleaze - the Democrats are the party of high standards!

Anonymous said...

We shouldn't forget that Barney Frank (former proprietor of a gay whorehouse in our nation's capital) bears much responsibility for running interference for Fannie and Freddie. And since cks mentions Jamie Gorelick, I'll remind all that Gorelick's chum Johnsen is soon going to be a Justice Department official. It'll be business as usual for "the party of high standards."
Uh, excuse me, but didn't St. Barack make a lot of promises about "change?"
Tarheel Hawkeye

Anonymous said...

Chris "Dodge" will release nothing and there will be no investigation. It will be up to the voters of Conn. to administer whatever justice he recieves, which at worst, will be sending him off into the sunset with a healthy pension. How soon and how hard Obummer steps on Dodge, Pelosi, Reid and Frank will probably define his domestic legacy. Steve in New Mexico