Dodd: I’ll move my Friends of Angelo loans

posted at 12:35 pm on February 2, 2009 by Ed Morrissey

Chris Dodd has decided that the best way to put his sweetheart deals with Countrywide Mortgage behind him is to make them disappear.  Dodd announced today that he will have those mortgages refinanced, and managed by a third party to protect against allegations of influence peddling:

Connecticut Sen. Chris Dodd says he’ll refinance two mortgages that he received through a VIP program from Countrywide Financial Corp.

Dodd told reporters Monday that the mortgages for his homes in Washington and East Haddam, Conn., will be refinanced with a different company.

That doesn’t solve the problem.  First, as Glenn Reynolds constantly reminds us, Dodd still has yet to make the mortgage papers public as he promised over six months ago. This looks like an attempt at a bait-and-switch to avoid the public disclosure of records that would show Dodd as knowingly accepting these sweetheart deals at below-market rates as a gift from a company that Dodd oversaw.  Given the long wait we’ve had for that full disclosure, I’d say that Dodd realizes he has something to hide.

Refinancing now has nothing to do with investigating whether influence peddling took place before, either.  If anything, it looks more like an attempt to bury the evidence than of a sudden commitment to clean government.  The issue isn’t that Dodd has the mortgages now, it’s that he accepted them at all.  Frankly, he could keep the mortgages as they are; that’s not the issue.  The issue is whether Dodd sold out on his oversight responsibilities for personal financial gain, not the size of his mortgage payments.

In a Senate run by Democrats, though, this will be the equivalent of a Geithner/Daschle “I apologize for being an incompetent”‘ defense, and will succeed.  Remember when Democrats ran on the “culture of corruption”?  Looks like they intended on expanding it.


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Did anyone see Beck last week doing “Where in the world are Chris Dodd’s mortgage papers”?

awake on February 2, 2009 at 12:39 PM

Given the long wait we’ve had for that full disclosure, I’d say that Dodd realizes he has something to hide.

Just don’t use that argument with birth certificates.

TexasDan on February 2, 2009 at 12:39 PM

Crook.

marklmail on February 2, 2009 at 12:40 PM

This WILL NOT WORK. Unless he also says “sorry”.

Spider79 on February 2, 2009 at 12:40 PM

Oh, wait. Let me get my glasses out. There it is, in fine print, in the photo caption: “D-Connecticut.”

misslizzi on February 2, 2009 at 12:40 PM

The Morons™ are now in charge.

Bishop on February 2, 2009 at 12:41 PM

I have never seen a political party so morally bankrupt…this is unbelievable.

right2bright on February 2, 2009 at 12:41 PM

Rates are so low now there’s a good chance he would get an even better rate than the sweetheart rate he already has.

Kenrod on February 2, 2009 at 12:42 PM

Unbelievable. I’m commentless.

stenwin77 on February 2, 2009 at 12:45 PM

Donate to Dodd’s primary challenger….six years from now, ugh.

DeathToMediaHacks on February 2, 2009 at 12:45 PM

I have never seen a political party so morally bankrupt…this is unbelievable.
right2bright on February 2, 2009 at 12:41 PM

The absolute lack of scrutiny is unbelievable too. How did our media get to the point where they are willfully willing to ignore this? Or Rangel? Or Frank?

Most Ethical Ever. What a frackin’ joke that is.

Bishop on February 2, 2009 at 12:46 PM

I’m afraid the influence has already been peddled.

ctmom on February 2, 2009 at 12:47 PM

Rates are so low now there’s a good chance he would get an even better rate than the sweetheart rate he already has.

Kenrod on February 2, 2009 at 12:42 PM

I was thinking the same thing. A coworker of mine refinanced at 4.75% on a 30 year fixed with no closing costs or fees. 5.25% is readily available now.

Credit is still readily available, you just have to have a job and decent credit history to qualify for it, unlike previously.

strictnein on February 2, 2009 at 12:48 PM

Dear Mr. Obama,
I will no longer pay my taxes, or my mortgage.
If the IRS or CITIBank want my money, bail me out with that new money you’ve printed.
Oh, and if you want to come take me away, send Border Patrol agents, so when they shoot me in the ass, they go to jail, not me.
Thanks

hbinva on February 2, 2009 at 12:50 PM

It’s Conneticutians who need to be lobbied. Where’s the State conservative opposition?
Randy

williars on February 2, 2009 at 12:52 PM

Did anyone see Beck last week doing “Where in the world are Chris Dodd’s mortgage papers”?

awake on February 2, 2009 at 12:39 PM

No, but the bit he did with a picture of Obama on the beach, with candles around the picture and Barry White music in the background was hilarious.

BuckeyeSam on February 2, 2009 at 12:53 PM

Donate to Dodd’s primary challenger….six years from now, ugh.

DeathToMediaHacks on February 2, 2009 at 12:45 PM

He’s a lib hack, embrace the corrupt power you all have on us. Crush us now while we’re regrouping.

hawkdriver on February 2, 2009 at 12:53 PM

It’s like saying, “Hey, sorry about all the money I stole. How about I launder it? Yeah, it’ll all be clean money then, so no harm, no foul, right? Oooh, an open spot on the Ethics Committee!”

Nethicus on February 2, 2009 at 12:53 PM

I bet rates have dropped enough for him to take advantage of “moving” the loans out.

UNREPENTANT CONSERVATIVE CAPITOLIST on February 2, 2009 at 12:55 PM

I have never seen a political party so morally bankrupt…this is unbelievable. right2bright on February 2, 2009 at 12:41 PM

I wouldn’t bet on it, but the CPUSA just might be worse if given the chance to prove it.

Akzed on February 2, 2009 at 12:56 PM

Thats like saying, I’ll return the money to the bank.”
after getting caught robbing it.

Bevan on February 2, 2009 at 1:00 PM

Donate to Dodd’s primary challenger….six years from now, ugh.
DeathToMediaHacks on February 2, 2009 at 12:45 PM

“Ugh”…your deep concern is noted, too bad it doesn’t instill enough anger in you to demand of your reps that Dodd be fully investigated and punished if necessary.

Ugh.

Bishop on February 2, 2009 at 1:02 PM

I think every democrat in the congress needs to disclose all financial information.
There’s more dirt under this carpet.

Kini on February 2, 2009 at 1:02 PM

BuckeyeSam on February 2, 2009 at 12:53 PM

LOL, that was with Bernie Goldberg. Yes, that was a classic.

awake on February 2, 2009 at 1:03 PM

One of the top crooks. Should be qualified enough for the new Cabinet…. Maybe we will call up Blago next….

DL13 on February 2, 2009 at 1:04 PM

Dear Mr. Obama,
I will no longer pay my taxes, or my mortgage.
If the IRS or CITIBank want my money, bail me out with that new money you’ve printed.
Oh, and if you want to come take me away, send Border Patrol agents, so when they shoot me in the ass, they go to jail, not me.
Thanks

hbinva on February 2, 2009 at 12:50 PM

Well done! LOL

capitalist piglet on February 2, 2009 at 1:05 PM

You know… what we need is a Hall of SHAME Website.

Someplace that just keeps track of these little “problems”… somewhere the MSM can be pointed… because its apparent that they won’t do the work themselves.

Romeo13 on February 2, 2009 at 1:05 PM

Dodd must be really stressed out if he’s giving up his mortgage deal. I hear Charlie Rangel has a place in the Carribean he can rent him if he needs to chill out. (Daschle said he could use his car and driver to get to the airport)

AmericanUnderground on February 2, 2009 at 1:06 PM

records that would show Dodd as knowingly accepting these sweetheart deals at below-market rates as a gift from a company that Dodd oversaw.

A man of great talent.
Imagine–senator & lobbyist simultaneously!

jgapinoy on February 2, 2009 at 1:06 PM

Ugh.

Bishop on February 2, 2009 at 1:02 PM

Can you imagine if this were a bunch of Republicans being caught with this stuff?

capitalist piglet on February 2, 2009 at 1:06 PM

Chris is every bit as honest as his daddy.

notagool on February 2, 2009 at 1:08 PM

I live in Connecticut. I swear that, even if I have two broken legs and a fever of 105° on Election Day 2010, I will go to vote against this clown – and I will bring along as many conservatives as I can find.

He, and his big hair, make me sick!

Logic on February 2, 2009 at 1:17 PM

I blame ignorant, stupid, ignorant, selfish, ignorant, blind, Democrat voters.

kirkill on February 2, 2009 at 1:20 PM

We need to overload his senate email box with complaints. OVERLOAD it! Like we’re going to forget this horse squeeze. How in the world do these guys get re-elected? Dodd if you want us to trust you, show us your Countrywide Mortgage papers today! Dodd is a scammer and he hopes no one notices. I hope Glenn Reynolds and the Hartford Courant writers stay on this guy. Dodd has no right being in charge of the Senate Banking Committee. The spineless Republicans should keep yelling for an ethics investigation until US hardworking Americans see those papers. Not current ones Chris but the “Friends of Angelo” papers… All of them.

Atlanta Media Guy on February 2, 2009 at 1:20 PM

He’s a lib hack, embrace the corrupt power you all have on us. Crush us now while we’re regrouping.

hawkdriver on February 2, 2009 at 12:53 PM

He’s an idiot and he along with Harry Reid, Lieberman, Kerry and the rest of the Dem dinosaurs need to be ousted, but quick. Oh Bernie Sanders, save us.

DeathToMediaHacks on February 2, 2009 at 1:21 PM

So now that the rates are low enough, I will refinace, and get an even lower rate.

Aren’t Democrats swell … Did he think of this all by himself, or did the Chicago thugs show him what to do to save him even more money.

Inquiring minds want to know. And while we are at it, I wnat to know who authorized Rahm to offer the deals to Blago … we have aright to know.

tarpon on February 2, 2009 at 1:23 PM

This is the same thing as
I am sorry i acepted that bribe and payoff

So to make sure it doesnt happen again
I will get rid of the lobbyist

After all everyone knows
I didnt break the law now did i?

jcila on February 2, 2009 at 1:23 PM

“I did not have sex with that woman”, ah, the good old days are here again!

kirkill on February 2, 2009 at 1:25 PM

Remember when Democrats ran on the “culture of corruption”? Looks like they intended on expanding it.

Of course! They ran against the Republican culture of corruption…they never specified a bipartisan culture. That they seem intent on expanding it for their own side shows that they consider only Republican corruption to be bad. Democratic corruption isn’t so bad that an “I’m sorry. I feel embarrassed about this” is all it really takes to fix up the old public trust. Republican corruption takes a scalpel, chemotherapy and a tactical strike to remove. Democratic corruption on the other hand, just needs a band-aid and a kiss from San Fran Nan to make it all better.

Double standard? What double standard?

DakRoland on February 2, 2009 at 1:28 PM

Dodd: I’ll move my Friends of Angelo loans

Chris Dodd, Barney Frank, and Maxine Waters should be sent to GITMO for the duration of the war on money. Moreover, let’s get to the bottom of this monetary nonsense, by having ALL three extensively used to test water-boarding techniques.

byteshredder on February 2, 2009 at 1:29 PM

Can you imagine if this were a bunch of Republicans being caught with this stuff?
capitalist piglet on February 2, 2009 at 1:06 PM

Mediahack would need a mop to clean all the righteous (or would it be lefteous) froth off his keyboard and monitor from screaming “CULTURE OF CORRUPTION!!!”

When it’s a demorat, the best he can muster is “ugh”, about the same thing you might mutter after stepping on a beetle.

Bishop on February 2, 2009 at 1:33 PM

Beck last week doing “Where in the world are Chris Dodd’s mortgage papers”?

Beck should take a page out of the MSLSD Olby playbook and provide a daily reminder of how long it has been since Dodd said he’d release the paperwork.

moxie_neanderthal on February 2, 2009 at 1:37 PM

I bet rates have dropped enough for him to take advantage of “moving” the loans out.

UNREPENTANT CONSERVATIVE CAPITOLIST on February 2, 2009 at 12:55 PM

YUP. My real estate loans have dropped from 8.7somethingorther to 5.somethingorother.
That is HUGE for me (the amount I owe is ungodly). My interest savings alone is in the tens of thousands.
Awesome.
I’m sure this is why Dodd is motivated in this direction.
Corrupt a$$hat.

Badger40 on February 2, 2009 at 1:38 PM

Culture of Corruption = Republicans = An apology proves the crime (I’m sorry I’m corrupt)

Culture of Mistakes = Democrats = An apology means I’m human (I’m sorry I made a mistake, just like you).

It’s all in the word choice.

BobMbx on February 2, 2009 at 1:41 PM

[marklmail on February 2, 2009 at 12:40 PM]

Ditto that.

Dusty on February 2, 2009 at 1:44 PM

Moving them doesn’t change what you are Dodd. Or your Pals.

dogsoldier on February 2, 2009 at 1:48 PM

I have never seen a political party so morally bankrupt…this is unbelievable.

right2bright on February 2, 2009 at 12:41 PM

That kinda says it all. My jaw is tired from dropping.

scalleywag on February 2, 2009 at 1:49 PM

My question is – why does Dodd even have a mortgage? He’s rich, he should be able to be debt free. Something isn’t right here. Me thinks that he funnels money through these mortgages somehow.

suzyk on February 2, 2009 at 2:00 PM

And to think that Bob Packwood was basically kicked out of the Senate for being a letch.

rbj on February 2, 2009 at 2:04 PM

I guess that means he is getting an even better deal from BofA or Citi, after the bailout. Maybe his mortgages were noted in the actual bailout bill, has anyone checked?

Vashta.Nerada on February 2, 2009 at 2:16 PM

Nothing to see here. Keep moving.

Fuquay Steve on February 2, 2009 at 2:17 PM

Refinancing now has nothing to do with investigating whether influence peddling took place before, either. If anything, it looks more like an attempt to bury the evidence than of a sudden commitment to clean government.

Given this turd’s chutzpah, I’m betting that he stuck with his below-market Countrywide loan until interest rates dropped so much that he’d have a better deal even after paying the costs of refinancing.

Where’s the Senate Ethics Committee? Dodd sold Americans out. I still can’t believe the residents of Connecticut voted this clown back into office. Couldn’t they muster a least a little outrage and elect a younger flaming liberal who has only just begun his or her career of corruption?

BuckeyeSam on February 2, 2009 at 2:23 PM

Senator Dodd, get thee to a hosery.

Mason on February 2, 2009 at 2:32 PM

What do you want Chrissy? A medal or a chest to pin a subpoena on?

Jamie Gorelick also benefited from these sweetheart loans and claimed that despite working at Fannie Mae she had no idea her super duper low rate was less than what the little people paid. Which is a bit like being in the dairy business and not knowing the price of a cow.

Donate to Dodd’s primary challenger….six years from now, ugh.
DeathToMediaHacks on February 2, 2009 at 12:45 PM

What? You mean this isn’t just another case of a politician being a politician?

Buy Danish on February 2, 2009 at 2:46 PM

He can probably get a better interest rate now.

danking70 on February 2, 2009 at 2:55 PM

Beck should take a page out of the MSLSD Olby playbook and provide a daily reminder of how long it has been since Dodd said he’d release the paperwork.

moxie_neanderthal on February 2, 2009 at 1:37 PM

Then he’d just look like a copycat (Instapundit’s been doing the count for a while now).

Voters of Connecticut, if you want to destroy your own state, that’s up to you. But for the love of all that’s holy, will you please stop inflicting your self-hatred on the rest of the nation and quit re-electing this incompetent, corrupt, lying POS to the Senate?

AZCoyote on February 2, 2009 at 3:06 PM

Jamie Gorelick also benefited from these sweetheart loans and claimed that despite working at Fannie Mae she had no idea her super duper low rate was less than what the little people paid. Which is a bit like being in the dairy business and not knowing the price of a cow.

Buy Danish on February 2, 2009 at 2:46 PM

Given how unbelieveably stupid the woman has repeatedly shown herself to be, I’m inclined to believe her whenever she says she didn’t know something. Being unable to recognize the significance or plain meaning of things that are staring her in the face seems to be the one constant in her life (that, and being placed in high-profile and/or high-paying jobs for which she has absolutely no skills, experience, or other qualifications).

AZCoyote on February 2, 2009 at 3:13 PM

Dodd is bad enough. But lets go after Frank first. These are the two prime movers of the current crisis and they both should be expelled from congress (and end up in jail).

duff65 on February 2, 2009 at 3:51 PM

Will he refinance at a rate that is higher than the going rate for us peons, by the difference that he screwed the public via Countrywide for all those years?

Dusty on February 2, 2009 at 4:00 PM

like father, like son

except that I think that’s probably unfair to Tom Dodd, who despite his ethics lapses had some stellar qualities.

JudetheFossil on February 2, 2009 at 4:16 PM

If you have ethic lapses then that cancels out your stellar qualities. Tom Dodd got caught with his hand in the cookie jar. Apparently it is genetic as Chris got caught with both hands in the cookie jar. Question is, what is going to be done about it?

BetseyRoss on February 2, 2009 at 4:28 PM

My guess is that Dodd does not want anyone to see the terms of the mortgage, especially the interest rate.

GarandFan on February 2, 2009 at 5:42 PM

GarandFan on February 2, 2009 at 5:42 PM

Or the terms. We are assuming that Dodd is paying back this loan in the first place. Friends of Angelo might very well have a lax payment schedule to boot.

Hog Wild on February 2, 2009 at 5:54 PM

Has Dodd found his Mortgage papers to prove he didn’t get a sweet heart loan? Franks bailed out a bank, The Bank owns a Condo on the ocean here in Ca. They buy Porches for the employees. Isn’t that just wonderful. Franks and Dodd and Daschel, and Geithner or how ever you spell those two morons names. Should be on trial. Should have been arrested months ago and put on trial.

*Screams on top of her lungs*

sheebe on February 2, 2009 at 11:07 PM

I have never seen a political party so morally bankrupt…this is unbelievable.

right2bright on February 2, 2009 at 12:41 PM

See the Right when they try to justify tax havens – the definition of moral bankruptcy.

sethstorm on February 3, 2009 at 3:38 AM