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Dodd Of Indignation

Mike

Well-known member
What about all the other Dems in line for prosecution? Rangel, Jefferson, etc etc.? :lol: :lol: :lol:

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Senate Banking Chairman Chris Dodd has been in typically indignant form this week, opining on the financial crisis. Before his Tuesday hearing on Bernard Madoff, he demanded that regulators get to the bottom of any crime: "American investors deserve an explanation and the responsible parties must be held accountable!" And yesterday the Connecticut Senator denounced Wall Street bonuses and said, "I am urging -- in fact, not urging, demanding -- that the Treasury Department figures out some way to get the money back."


Pardon us, Senator, but how about taking your own advice?

We refer to his promise to release mortgage documents for the two properties that he and his wife refinanced with Countrywide Financial in 2003. In June a former Countrywide loan officer charged that Mr. Dodd received preferential rates and had fees waived on those loans as part of a VIP program the company had for "friends" of the company's then-CEO Angelo Mozilo. Mr. Dodd first issued a denial and then, days later, acknowledged that he was a "VIP" with Countrywide but said he thought it was "more of a courtesy." In late June he pledged to make all pertinent documents public "at some point." We're still waiting.

Some senators want a bailout for big political donors. What a surprise.Beltwaywide Financial 06/16/2008 – The new ARMs: Angelo-rated mortgages for senators.Increasing accountability is critical to rebuilding public trust in the financial system, as the Senator keeps telling us. Countrywide was one of the most irresponsible lenders in the subprime frenzy but it did not act alone. One reason it could pump out so much bad paper is because Fannie Mae and Freddie Mac were around to buy it and then resell it with a taxpayer guarantee. Messrs. Dodd and Mozilo were two of Fan and Fred's biggest supporters, with Mr. Dodd playing a role in pushing the companies to take on "affordable housing" loans from outfits like Countrywide.

Perhaps Connecticut's longest serving Senator was bamboozled by Mr. Mozilo and used bad judgment in backing the reckless lender. But loan officer Robert Feinberg, who oversaw Countrywide's VIP program, says Mr. Dodd knew he was getting favors from Mr. Mozilo. Mr. Feinberg says his job was to remind beneficiaries at every step of the process that they were getting a special deal because they were "Friends of Angelo." If true, it would mean that the Senator had a clear conflict of interest as a legislator promoting the business of a company doing him personal favors. Recall the Ted Stevens precedent.

The way to clear this up is to see all the documents and get Mr. Dodd to explain what happened, preferably under oath. But Mr. Dodd has been stonewalling. In July he said he would release the documents after President Bush signed the first housing bailout bill. Nothing. Then in October he said he wanted to wait until the Senate Ethics Committee completed its investigation.

That could take a while. On July 28 Ethics Chairman Barbara Boxer (D., Calif.) and Vice Chairman John Cornyn (R. Texas) issued a press release that explained "it has been the long-standing policy of the committee to defer investigation into matters where there is an active and ongoing criminal investigation and proceeding so as not to interfere in that process."

Earlier this month, Mr. Dodd's office confirmed that the law firm Perkins Coie has provided "ethics advice" to him, and we can't help but wonder what that entailed. The delay at the Ethics Committee in no way impedes Mr. Dodd from honoring his disclosure pledge. It's in his political interest to do so, assuming he has nothing to hide. A recent Quinnipiac poll showed his approval rating down to an all-time low of 47%. Rare is the politician who could clear his name overnight and chooses not to.

Being scolded by the government (especially Dodd) about shameful behavior and wasteful spending is like receiving a lecture on morals from a crack whore.
 

Sandhusker

Well-known member
In light of what the failure of Fannie and Freddie have done to this country and the world economcally, this should be front-page material for every paper in the country. There is plenty of blame to go around, but he and Barney Frank have by far the biggest share of responsibility in this mess that we're in and here is one of the reasons why, Dodd was accepting bribes. This guy should be in jail, not in office.
 
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Anonymous

Guest
Sandhusker said:
In light of what the failure of Fannie and Freddie have done to this country and the world economcally, this should be front-page material for every paper in the country. There is plenty of blame to go around, but he and Barney Frank have by far the biggest share of responsibility in this mess that we're in and here is one of the reasons why, Dodd was accepting bribes. This guy should be in jail, not in office.

Kind of funny when you put it that way-- as the majority of the folks in the nation didn't see it that way in 06 or 08-- in fact with all the polls indicating they felt the Repub party was the most involved in corruption and unethical politics....

But we know Bankers in Booneytown Nebraska know more- eh :???: :lol:
 

Sandhusker

Well-known member
Oldtimer said:
Sandhusker said:
In light of what the failure of Fannie and Freddie have done to this country and the world economcally, this should be front-page material for every paper in the country. There is plenty of blame to go around, but he and Barney Frank have by far the biggest share of responsibility in this mess that we're in and here is one of the reasons why, Dodd was accepting bribes. This guy should be in jail, not in office.

Kind of funny when you put it that way-- as the majority of the folks in the nation didn't see it that way in 06 or 08-- in fact with all the polls indicating they felt the Repub party was the most involved in corruption and unethical politics....

But we know Bankers in Booneytown Nebraska know more- eh :???: :lol:

So your position is that Dodd did nothing wrong?
 
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Anonymous

Guest
Sandhusker said:
Oldtimer said:
Sandhusker said:
In light of what the failure of Fannie and Freddie have done to this country and the world economcally, this should be front-page material for every paper in the country. There is plenty of blame to go around, but he and Barney Frank have by far the biggest share of responsibility in this mess that we're in and here is one of the reasons why, Dodd was accepting bribes. This guy should be in jail, not in office.

Kind of funny when you put it that way-- as the majority of the folks in the nation didn't see it that way in 06 or 08-- in fact with all the polls indicating they felt the Repub party was the most involved in corruption and unethical politics....

But we know Bankers in Booneytown Nebraska know more- eh :???: :lol:

So your position is that Dodd did nothing wrong?

I don't know the facts...With all the sleazy things the Banks, Bankers, and Fatcat Moneymen been doing- just talking to a banker could make you a conspirator...
If he did get special treatment in return for favors or because of his position- he should be indicted...But McCain did the same thing a couple of times- and nothing happened- so who knows...
 

Sandhusker

Well-known member
What facts are you waiting for? Dodd acknowledges getting a special deal - he thought it was a "courtesy". :roll: Now why in the world would Dodd get a "courtesy" from Country Wide?
 
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Anonymous

Guest
Sandhusker said:
What facts are you waiting for? Dodd acknowledges getting a special deal - he thought it was a "courtesy". :roll: Now why in the world would Dodd get a "courtesy" from Country Wide?

Why do Bankers give out VIP loans to some- but not to Joe Blow :???:

Sounds like all should take a trip to the Rock ...
 

Sandhusker

Well-known member
When you answer a question with a question, you're dodging.

If a banker gives somebody a better deal than another guy, it's because they're pricing risk or want to estabish a closer relationship because they'll make more money in the long run. Rest assured, it's not a giveaway.

Now back to the topic of Dodd; Is "courtesy" the liberal politically correct word for "bribe" now?
 
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Anonymous

Guest
Sandhusker said:
When you answer a question with a question, you're dodging.

If a banker gives somebody a better deal than another guy, it's because they're pricing risk or want to estabish a closer relationship because they'll make more money in the long run. Rest assured, it's not a giveaway.

Now back to the topic of Dodd; Is "courtesy" the liberal politically correct word for "bribe" now?

If Bankers do this as a general practice- give some better rates because they are a better risk- then how do we know that wasn't the reason Dodd was given the VIP treatment?...Senators are paid pretty good- job security for a couple of years- and I read somewhere Dodd was worth quite a bit....

Be tough to prove in a criminal case--Unless the Banker - Mozilo (a creep) admitted he gave it to him as a special deal in return for a favor or favors he hoped to get--which would then also make him guilty of a crime... :roll:
 

Sandhusker

Well-known member
When you're selling all your loans to Fannie and Freddie as soon as you make them, where is the risk? There is none.

So Mozilo gave Dodd a sweetheart deal just so that the next time Dodd bought a home, he might come to Country Wide? :lol: :lol: :lol: I know you don't believe that.

So you're Chris Dodd, the Chairman of the banking committee, and a company that is under your regulation - a company that has everything to lose and to gain on your decisions - gives you a sweetheart deal, you know it's a sweetheart deal, and you think it's just a courtesy? :lol: :lol: :lol:
 
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Anonymous

Guest
Sandhusker said:
When you're selling all your loans to Fannie and Freddie as soon as you make them, where is the risk? There is none.

So Mozilo gave Dodd a sweetheart deal just so that the next time Dodd bought a home, he might come to Country Wide? :lol: :lol: :lol: I know you don't believe that.

So you're Chris Dodd, the Chairman of the banking committee, and a company that is under your regulation - a company that has everything to lose and to gain on your decisions - gives you a sweetheart deal, you know it's a sweetheart deal, and you think it's just a courtesy? :lol: :lol: :lol:

If its something they regularly do to people of good risk with good credit.... Or should they discriminate against a Congressman or politican because of their occupation :???:
You mean when I was in office-- and bargained/horse traded someone down on the price of a heifer- or a horse- it was because they were giving me a "sweetheart" deal :???: .....And automatically that person is quilty of a crime :???:

Maybe Congress/elected officials need to get an affidavit printed so that whenever a member gets a loan- or buys something at a sale price they can get the banker/businessman to sign that it is not in return for anything or expectations of anything...

Did you ever think-- there could/would be no crooked politicians if there wasn't so many crooked businessmen/bankers making these offers or giving these "special" deals :???:
 

Sandhusker

Well-known member
"If its something they regularly do to people of good risk with good credit...."

Everybody with good credit got the "friends of Angelo rate"? :lol: :lol:

Did you ever think-- there could/would be no crooked politicians if there wasn't so many crooked businessmen/bankers making these offers or giving these "special" deals

No. That's like blaming the prostitute for the preacher getting caught in the whorehouse. I'm a conservative, I believe in personal responsibility. But, you're making progress bringing crooked businessman into the conversation. Now, if you would only admit the obvious, a crooked politician was the recipient of the crooked deal from the crooked businessman

The man is the Chairman of the Banking Committee, and he's getting a "courtesy" from a company that his committee regulates, and you see nothing wrong with that. OT, I know you're smarter than that. You're losing credibility. You sound like SH defending NCBA.
 
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Anonymous

Guest
OK Sandhusker- put it this way...You are a Banker- and one day you go into the local hardware store looking for a Widget...The store owner knows you- knows you're a good customer that pays his bill on time- and he also knows you buy a lot of products from him for the Bank- and he knows the bank has a big purchase coming up of gadgets, which he also stocks...You find your widgit- and him and haw about it being $50 cheaper at Nexttown Walmart...The Store Owner says he will give you a special deal as a good customer and save you the drive- and knocks $40 off his price....Are you guilty of a crime :???: Is the store owner guilty of a crime :???:
Hell No - its good business- for both of you....

Now take the same story and substitute the County Commissioner in the position..One day the commissioner goes into the local hardware store looking for a Widget...The store owner knows him- knows he's a good customer that pays his bill on time- and he also knows he buys a lot of products from him for the County, and he knows the county has a big purchase coming up for Gadgets, which he also stocks...The Commisioner finds his widgit- and hims and haws about it being $50 cheaper at Nexttown Walmart...The Store Owner says he will give him a special deal as a good customer and save him the drive- and knocks $40 off his price....Is the Commissioner guilty of a crime :???: Is the store owner guilty of a crime :???:

Thats where it gets very questionable-- can you prove the intent was a special favor because of his political position-because he wanted the county business-- or was it just a good business deal between a businessman and his customer :???: ...

I've been involved in investigating several of these- and proving the intent is awful hard- especially where its done daily as normal business practice unless you can get them on tape making a special deal for return of favors- or have something on one and can turn him...Something tells me snidely Mozilo ain't going to turn......

Thing is- in Smalltown USA this goes on every day...
 

Tam

Well-known member
Thing is Oldtimer, Dodds could have cleared all of this up in a few minutes just like Obama could have stop the lawsuits against him in a few minutes by providing his Birth Certificate . The guy on the news today said Dodds agreed to provide the mortgage papers and details of the deals back in July but as of yet he hasn't. WHY if the deal was on the UP and UP is he not providing the papers he promise to the voter of Conn. IN JULY????? :? :???: :? :roll:
 
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Anonymous

Guest
Tam said:
Thing is Oldtimer, Dodds could have cleared all of this up in a few minutes just like Obama could have stop the lawsuits against him in a few minutes by providing his Birth Certificate . The guy on the news today said Dodds agreed to provide the mortgage papers and details of the deals back in July but as of yet he hasn't. WHY if the deal was on the UP and UP is he not providing the papers he promise to the voter of Conn. IN JULY????? :? :???: :? :roll:

Got me-- and I don't care....I'm not a Dodd fan-- but all I'm saying is that convicting someone or even showing someone did something for political purposes is not that easy....Especially when the type "special" deal is an every day unquestioned business deal if he wasn't an office holder....
 

Sandhusker

Well-known member
Oldtimer said:
OK Sandhusker- put it this way...You are a Banker- and one day you go into the local hardware store looking for a Widget...The store owner knows you- knows you're a good customer that pays his bill on time- and he also knows you buy a lot of products from him for the Bank- and he knows the bank has a big purchase coming up of gadgets, which he also stocks...You find your widgit- and him and haw about it being $50 cheaper at Nexttown Walmart...The Store Owner says he will give you a special deal as a good customer and save you the drive- and knocks $40 off his price....Are you guilty of a crime :???: Is the store owner guilty of a crime :???:
Hell No - its good business- for both of you....

Now take the same story and substitute the County Commissioner in the position..One day the commissioner goes into the local hardware store looking for a Widget...The store owner knows him- knows he's a good customer that pays his bill on time- and he also knows he buys a lot of products from him for the County, and he knows the county has a big purchase coming up for Gadgets, which he also stocks...The Commisioner finds his widgit- and hims and haws about it being $50 cheaper at Nexttown Walmart...The Store Owner says he will give him a special deal as a good customer and save him the drive- and knocks $40 off his price....Is the Commissioner guilty of a crime :???: Is the store owner guilty of a crime :???:

Thats where it gets very questionable-- can you prove the intent was a special favor because of his political position-because he wanted the county business-- or was it just a good business deal between a businessman and his customer :???: ...

I've been involved in investigating several of these- and proving the intent is awful hard- especially where its done daily as normal business practice unless you can get them on tape making a special deal for return of favors- or have something on one and can turn him...Something tells me snidely Mozilo ain't going to turn......

Thing is- in Smalltown USA this goes on every day...

You're comparing apples to oranges. Dodd is not a regular customer of Country Wide or any other mortgage company. Good grief, you're comparing home purchases to hardware purchases? How many times has the typical homeowner been in a hardware store compared to the number of mortgages they've gotten? Country Wide made the mortgages and sold them Fannie and Freddie. In that business model in that business, there isn't much repeat business that would justify a sweet deal and they're transfering the risk, so there isn't any reason to cut a special deal on that. They're not going to make any more money on Dodd in the future via his purchases, so there's got to be another way to make money off of him..... :shock:

Now why would Country Wide select Dodd, of all their customers, for the "Friends of Angelo" rate? You don't think that his influential position as the Chairman of the very government committee that just happens to oversee Country Wide had anything to do with the deal?

I seem to remember you being critical of Earl Butz for taking "favors" from Tyson when he was Secretary of Agriculture. I think "crook" was the word you used. What's the difference here?
 
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Anonymous

Guest
Sandhusker said:
Oldtimer said:
OK Sandhusker- put it this way...You are a Banker- and one day you go into the local hardware store looking for a Widget...The store owner knows you- knows you're a good customer that pays his bill on time- and he also knows you buy a lot of products from him for the Bank- and he knows the bank has a big purchase coming up of gadgets, which he also stocks...You find your widgit- and him and haw about it being $50 cheaper at Nexttown Walmart...The Store Owner says he will give you a special deal as a good customer and save you the drive- and knocks $40 off his price....Are you guilty of a crime :???: Is the store owner guilty of a crime :???:
Hell No - its good business- for both of you....

Now take the same story and substitute the County Commissioner in the position..One day the commissioner goes into the local hardware store looking for a Widget...The store owner knows him- knows he's a good customer that pays his bill on time- and he also knows he buys a lot of products from him for the County, and he knows the county has a big purchase coming up for Gadgets, which he also stocks...The Commisioner finds his widgit- and hims and haws about it being $50 cheaper at Nexttown Walmart...The Store Owner says he will give him a special deal as a good customer and save him the drive- and knocks $40 off his price....Is the Commissioner guilty of a crime :???: Is the store owner guilty of a crime :???:

Thats where it gets very questionable-- can you prove the intent was a special favor because of his political position-because he wanted the county business-- or was it just a good business deal between a businessman and his customer :???: ...

I've been involved in investigating several of these- and proving the intent is awful hard- especially where its done daily as normal business practice unless you can get them on tape making a special deal for return of favors- or have something on one and can turn him...Something tells me snidely Mozilo ain't going to turn......

Thing is- in Smalltown USA this goes on every day...

You're comparing apples to oranges. Dodd is not a regular customer of Country Wide or any other mortgage company. Good grief, you're comparing home purchases to hardware purchases? How many times has the typical homeowner been in a hardware store compared to the number of mortgages they've gotten? Country Wide made the mortgages and sold them Fannie and Freddie. In that business model in that business, there isn't much repeat business that would justify a sweet deal and they're transfering the risk, so there isn't any reason to cut a special deal on that. They're not going to make any more money on Dodd in the future via his purchases, so there's got to be another way to make money off of him..... :shock:

Now why would Country Wide select Dodd, of all their customers, for the "Friends of Angelo" rate? You don't think that his influential position as the Chairman of the very government committee that just happens to oversee Country Wide had anything to do with the deal?

I seem to remember you being critical of Earl Butz for taking "favors" from Tyson when he was Secretary of Agriculture. I think "crook" was the word you used. What's the difference here?

What criteria constitutes you as a "Friends of Angelo" :???: That sounds snidely and illegal right there...Not trying to defend Dodd-but should an elected official be discriminated against if he falls into the criteria of "Friends of Angelo" :???:
Looks to me like a very good reason that the banking and lending industry needs some stronger oversight and policing put on them...
As far as abuse of power- and using his position to influence someone for personal gain-- you can go back to McCain and the Keating 5- or when he got the US attorneys office to cut his thief/drug user wife a cushy "deferred prosecution" deal and seal the paperwork....

Looks like they need to assign a squad of FBI agents to investigating every banking CEO and Congressman as soon as they walk in the office.... Like I've said- in this new business world- GREED has replaced ETHICS......
 

Tam

Well-known member
Oldtimer said:
Tam said:
Thing is Oldtimer, Dodds could have cleared all of this up in a few minutes just like Obama could have stop the lawsuits against him in a few minutes by providing his Birth Certificate . The guy on the news today said Dodds agreed to provide the mortgage papers and details of the deals back in July but as of yet he hasn't. WHY if the deal was on the UP and UP is he not providing the papers he promise to the voter of Conn. IN JULY????? :? :???: :? :roll:

Got me-- and I don't care....I'm not a Dodd fan-- but all I'm saying is that convicting someone or even showing someone did something for political purposes is not that easy....Especially when the type "special" deal is an every day unquestioned business deal if he wasn't an office holder....

Your sick Oldtimer :x

I can see alot of politicians would love to have you as the investigator on their corruption cases. Your answer to all issues would be it to hard to prove it so I guess I'll just go to the watering hole and let the corruption continue. :roll: :roll: :roll:
 
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Anonymous

Guest
WHY if the deal was on the UP and UP is he not providing the papers he promise to the voter of Conn. IN JULY?????

I don't care- I can't vote for him...And I am not the one investigating him...I'm sure some very competent FBI Agents are....All I'm saying is that its a whole lot harder to convict in a criminal trial- and takes a whole lot more evidence then just "Tam thinks it happened".....Especially when "sweet deals" are an everyday practice that is offered to other business's and customers.....
You're going to have to show direct evidence of intent- that the sweet deal was given for exchange of favors..

And as we've known for years (going back to Abramoff- the Keating 5- and before) Congress's ethics rules have more holes in them than a piece of swiss cheese...
Do I like it? NO-- Is it something new? NO

Hopefully the voters of Conn. will do the same thing Montanan's did with their last crooked Senator- Conman Burns-- send him down the road kicking his lunchcan....
 
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