Democratic Senators Kent Conrad and Chris Dodd are back under fire for their Countrywide real estate loans.
According to AP both senators deny any wrongdoing, saying that they had no idea that they were receiving preferential treatment from the lender.
Countrywide’s Robert Feinberg, however, disagrees.
Feinberg claims both senators were aware of their special treatment, such as being charged less points for the loans, claiming two houses as primary residences at the same time (which is illegal), along with other spiff.
As a note, if the senators did not see that they were receiving these benefits it makes me wonder if they read any part of their loan and disclosure documents and, if not, that begs they question of, well, you get the picture.
Actually, AP says that Dodd requested Countrywide documents in 2008 “to learn details of his mortgages.” Wouldn’t Senator Dodd have received copies of those documents at the close of escrow?
However, we must remember that here in America people are innocent until proven guilty.
Though, from what has been presented thus far it is not looking real good for the senators.
Conrad, chair of the Senate Budget Committee, and Dodd, chair of the Banking Committee could face serious consequences.
Of course, if found guilty, they would probably still receive their healthy government (Main Street USA-sponsored) pension, while the typical person on the street is still struggling to stay afloat financially, losing more jobs, falling behind on the mortgage payments, getting hit by credit card companies with outrageous interest rates and/or lowered credit limits, etc., etc., etc.
Talk about a double or triple standard.
Over For Now,
Main Street One