NYT: Dodd should release mortgage papers now

The New York Times sets its sights on an unfamiliar target — a liberal Democrat.  Chris Dodd has still not released his mortgage records to the public to show how much money his “Friends of Angelo” loans saved him on two different properties financed by Countrywide, despite his promises to do so.  The Times’ editorial board wonders what excuses Dodd will offer next:

After reports emerged in June about him having received favorable treatment on two home mortgages from the Countrywide Financial Corporation, Senator Christopher Dodd, a Democrat from Connecticut, promised that he would release documents to support his contention that he never benefited financially from the terms of the loans.

The senator has failed to keep his promise, and his excuses are wearing ridiculously thin. …

The Senate Ethics Committee is investigating whether the terms of the loans violated its rules on disclosing gifts. But such an investigation does not preclude Mr. Dodd from being candid.

Mr. Dodd admits he was extended “courtesies” by Countrywide. It’s time for him to extend some courtesy to his constituents and the rest of the nation and release the records on the mortgages, without delay.

An honorable man would have released the records immediately after the cozy relationship got uncovered.  On the other hand, an honorable man would never have put himself in that position in the first place.  Accepting gift mortgage rates under a VIP plan from a company Dodd helped regulate is such an obvious conflict of interest that it should result in criminal prosecution, not an Ethics Committee ruling.

It’s past time for Dodd to release the records.  It’s time for Dodd to resign his seat in the Senate.  It’s time for Barney Frank to resign his seat in Congress, along with the other Representatives who blocked regulators from doing their jobs — like Lacy Clay, who flat-out called them racists for reporting on the fraud that Franklin Raines was committing under their noses, and Maxine Waters, who hailed Raines as a genius while Raines set the stage for the collapse and tried to hide the losses to get bigger bonuses.

Then again … there’s no honor among thieves.

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