Mozillo’s Countrywide Financial Envelopes Senators In Loan Scandle
I don’t know nothing.
That is the reaction of Senators Kent Conrad, known as the Statistician, and Christopher Dodd, Presidential candidate, after being named as beneficiaries of below market loans by Countrywide Financial. The loans were part of the “Friends of Angelo” program named after CEO Angelo Mozillo.
Of course both Senators deny knowing that they were given special treatment. And if you have seen how these two have spent our tax money you know attention to details as trivial as the interest rates on their mortgages was minimal.
Yeah, right, as the kids say.
That these two happened to apply for a loan and the application of the loan was know to the CEO Mozillo stretches the imagination of coincidence. Instead, the priming of the pump for politicians continues on.
And how many times have these two voted on legislation that helped Mozillo? I do not know but their ethics sure have been brought into question.
Such loans to members of Congress or executive branch officials — if given on favorable terms — could run afoul of federal ethics laws that limit the amount public officials can receive as a gift, according to campaign ethics watchdogs. But if the senators were unaware that they were receiving favorable treatment and if there was no quid pro quo, it would be harder to make a case. Still, Citizens for Responsibility and Ethics in Washington, a nonprofit watchdog group, has called for Congressional ethics committees to investigate.
“There are legitimate questions that need to be answered,” said Melanie Sloan, executive director of the group. “It sounds like these senators didn’t inquire too closely about what they were getting.” via NYTimes.com.
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