Dodd, Conrad, told deals were "sweetened"

[RadiomanATL]

AP IMPACT: Dodd, Conrad told deals were sweetened

—Dodd heads the Banking Committee and is a major player in two big areas: solving the housing foreclosure and financial crises and putting together an overhaul of the U.S. health care system. A five-term senator, he is in a tough fight for re-election in 2010, partly because of the controversy over his mortgages.

_Conrad chairs the Budget Committee. He, too, shares an important role in the health care debate, as well as on legislation to curb global warming.

Both senators were VIP borrowers in the program known as "friends" of Angelo. Angelo Mozilo was chief executive of Countrywide, which played a big part in the foreclosure crisis triggered by defaults on subprime loans. The Calabasas, Calif.-based company was bought last July by Bank of America Corp. for about $2.5 billion.

Mozilo has been charged with civil fraud and illegal insider trading by the Securities and Exchange Commission. He denies any wrongdoing.

Asked by a House investigator if Conrad, the North Dakota senator, "was aware that he was getting preferential treatment?" Feinberg answered: "Yes, he was aware."

Referring to Dodd, the investigator asked:

"And do you know if during the course of your communications" with the senator or his wife "that you ever had an opportunity to share with them if they were getting special VIP treatment?"

"Yes, yes," Feinberg replied.

 

[RadiomanATL]

Amazing snapshot of whats wrong with politics nowadays.

Some low-level, no-name bureaucrat in Hawaii makes a statement on a birth certificate and gets more play in the media and among the populace than the story about two high-ranking, policy making Democrats who were obviously on the take and partially responsible for the housing meltdown that is still occurring.

 

[RadiomanATL]

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