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Justice Dept. Investigating Dodd Loans

The Beginning of the End for Dodd?

Promoted from diaries. – Moe Lane

Breaking News from MSNBC: On Day 140 of Dodd Watch, MSNBC has revealed that the Justice Department is investigating the Countrywide VIP Loan program that doled out two sweetheart mortgages to Sen. Chris Dodd, among others.

According to MSNBC’s ‘Deep Background’, the Justice Department is investigating the legality of Countrywide’s VIP Program. Former Countrywide loan officer Robert Feinberg, the gentleman who was in the middle of the so-called FOA (‘Friends of Angelo’) loan program, spent six hours talking with investigators with the Justice Department’s Public Integrity unit.

“The Justice Department is making very serious inquiry into any possible wrongdoing that may involve (former Countrywide CEO) Anthony Mozilo, other Countrywide employees, Sen. Chris Dodd, Sen. Kent Conrad, (former Fannie Mae CEO) Franklin Raines or other public officials,” said Feinberg’s lawyer, Anthony Salvano. “Robert has always cooperated thoroughly with authorities and is strictly a witness in their investigation.”

The revelation that Justice is now involved is only the latest in the Dodd VIP Mortgage scandal. The pressure on Dodd has been growing in recent days as editorial boards and local reporters have finally (!) picked up the scent of blood in the Dodd case – mostly after Dodd started giving doublespeak answers about when he would release the documents.

Dodd has refused to release the documents, after having promised to release them back in July. It has been 140 days since the story broke, and people are getting sick and tired of Dodd’s antics. His approval ratings are starting to tank and the sharks are starting to circle. It remains to be seen whether Dodd will go the way of his father and take a public rebuke from the Senate or do himself a favor and resign his post.

The Dodd scandal teaches an important lesson for Connecticut voters. For too long, we’ve had Senators who have chosen to be national figure, doing their best to rub elbows with the powerful elite from Washington to Wall Street. These connections have propelled both Senators to failed Presidential bids and long absences from regular people in Connecticut. It would be to the benefit of folks in Connecticut if we finally got a Senator that wanted to represent Connecticut, instead of use us as a staging ground for the White House. Hopefully Dodd will get out of the way so we can have that kind of representation in Washington again.

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