1. Senator Christopher Dodd (D-CT): This marks two years in a row for Senator Dodd, who made the 2008 â€œTen Most Corruptâ€ list for his corrupt relationship with Fannie Mae and Freddie Mac and for accepting preferential treatment and loan terms from Countrywide Financial, a scandal which still dogs him. In 2009, the scandals kept coming for the Connecticut Democrat. In 2009, Judicial Watch filed a Senate ethics complaint against Dodd for undervaluing a property he owns in Ireland on his Senate Financial Disclosure forms. Judicial Watchâ€™s complaint forced Dodd to amend the forms. However, press reports suggest the property to this day remains undervalued. Judicial Watch also alleges in the complaint that Dodd obtained a sweetheart deal for the property in exchange for his assistance in obtaining a presidential pardon (during the Clinton administration) and other favors for a long-time friend and business associate. The false financial disclosure forms were part of the cover-up. Dodd remains the head the Senate Banking Committee.
The following is a list of US politicians that are involved in getting "sweetheart" mortgage deals directly from Countrywide Financial. This is a bipartisan scandal including both the Republicans and Democrats. These politicians were accepting low mortgage rates from Countrywide Financial's CEO Angelo Mozillo (who earns about $103 million in 2006 when foreclosure rates grew 46%) while Countrywide cried about raising foreclosure rates and asking that the government pale them out from their bad business practices.
It seems to me that there is a major ethical problem here. These politicians accepting favorable rates are while the rest of use pays the normal rate bad enough, but they are surely influenced by their dealings with Countrywide in making policy. Is the foreclosure policy intended to pale out Countrywide, their friend and CEO Angelo Mozillo, or to help the citizen who might be facing foreclosure? If politicians really wanted to help the average citizen, they would lower taxes and encourage business growth so we can work and pay the mortgage.
Below is a list of the politicians that have received these sweetheart mortgage deals when the rest of us have to pay the normal mortgage rate.
-Alphonso Jaskson the former Secretary of Housing and Urban Development.
-Jim Johnson former chief of Fannie Mae, Obama advisor, and longtime Democratic Party power broker.
-Franklin Delano Raines, the former chairman and chief executive officer of Fannie Mae who served as White House budget director under President Bill Clinton, and "retired" from Fannie Mae to halt a U.S. Securities and Exchange Commission investigation into accounting irregularities. He was accused by The Office of Federal Housing Enterprise Oversight (OFHEO), the regulating body of Fannie Mae, of abetting widespread accounting errors, which included the shifting of losses so senior executives, such as himself, could earn large bonuses.
Donna Shalala, former Secretary of Health and Human Services, who in 1993, the Association of American Physicians and Surgeons, along with several other groups, filed a lawsuit against Donna Shalala over closed-door meetings related to the HillaryCare socialized health care plan, and since leaving the administration was embroiled in scandals at the University of Florida due to her extravagant lifestyle at the Universityâ€™s expense. She was also one of the Countrywide Six.
-Richard Holbrooke, former U.N. ambassador and assistant Secretary of State, who as U.N. Ambassador ignored whistleblower reports about the infamous Oil-for-Food scandals
- Senator Christopher Dodd - D. Connecticut, who oversees the U.S. mortgage industry as chairman of the Senate Banking Committee.
-Gaylord Kent Conrad - D. North Dakota, the chairman of the Senate Budget Committee and one of the first politicians to support Obama over Hillary.
As acting chairman of the Senate Health, Education, Labor, and Pensions Committee Dodd largely wrote the Senate health care bill, and as chairman of the Senate Banking Committee he has been presiding over ongoing attempts to take even greater federal control of our financial system. Dodd has been engulfed by scandals, including the revelation that he received a special sweetheart deal on a mortgage from Countrywide Financial under that company's corrupt "Friends of Angelo Mozilo" mortgage program that provided below-market loans to elected officials (Dorgan was also implicated, by the way). The scandal was especially damaging for Dodd because as chairman of the Banking Committee he was responsible for oversight of companies like Countrywide that were at the center of the housing crisis that brought the U.S. economy to its knees.
Dodd was probably un-electable and conventional wisdom is that his retirement will protect his Connecticut Senate seat for Democrats by letting them elect the state's Attorney General -- Richard Blumenthal. The problem with that plan is that voter anger will likely transfer from Dodd to Blumenthal, who, as the state's top law enforcement officer, should have been investigating the Dodd scandals, instead of insisting without a real investigation that his fellow Democrat had done nothing wrong. Moreover, the strong shift in the national mood is such that anyone with a "D" next to his name may have difficulty this year.
Read more: http://www.foxnews.com/opinion/2010/01/06/phil-kerpen-retire-dodd-dorgan-ritter-obama-democrats#ixzz1KxKSIjVJ