Monday, June 16, 2008

Another Obama buddy bites the dust

Senators Appear to Have Received Below Market Mortgages from Countrywide:

Senator Chris Dodd, a vice-Presidential hopeful Democrat from Connecticut and Chairman of the Senate Banking Committee which regulates mortgage lending, was named as having received preferential treatment from Countrywide in obtaining mortgage loans. Dodd had earlier this year called Countrywide's lending practices 'abusive.'

One week ago the allegation of a similar deal with Countrywide forced former Fannie Mae Chairman Jim Johnson to step down from his volunteer position as head of Barack Obama's vice presidential search team.